THE ROTARY CLUB OF NICOSIA – ASPELIA
Recognised as a charitable organisation by the Ministry of Finance: File no. 13.36.002.04
The R.C. Nicosia –Aspelia Scholarship Fund was established in 2002 with a long-term view to provide annual financial assistance to needy students from the District of Nicosia. It awarded the first scholarships in September 2002 from the interest earned from a Capital Fund and other fund-raising events throughout the Rotary year.
The Trustees are the incumbent President, Incoming President, Vice President and two Past Presidents, as well as other officers who might be considered necessary.
The Scholarship Fund is recognized by the state as a legal entity charity for tax purposes and has supported more than 30 scholars so far. For the RY 2010-2011, the Trustees have awarded 10 scholarships worth € 18000
Each student can be supported for up to four consecutive years to the first degree, provided that the high academic level required is maintained and they report to the Trustees of the Fund with their results in order to continue receiving their scholarship.
The Club is considering recruiting the successful scholars as potential Rotaractors.
A senior executive from a private university in Nicosia has volunteered as an advisor to help with the application assessment, interview and selection process. For his service, he has been awarded a Paul Harris Fellowship.
The scholarship is advertised in the local media (free of charge) every July/August, when students are home for their summer break or about to begin their new studies at the end of September. Interviews usually take place up to December to coincide with any holidays.
In recent years, the Club has introduced the scheme of Corporate Sponsors, whereby large companies contribute an amount equal to one scholarship a year, which constitutes their contribution as part of the Corporate Social Responsibility. That amount is tax-deductable.