Grant Description and Guidelines

The Foundation is funded principally by the actuarial profession through voluntary contributions. Therefore, the Actuarial Foundation will consider proposals for funding of mentoring programs that involve actuaries in supporting the teaching and learning of mathematics.

In programs awarded funding, the mentors are actuaries and others in the local community who provide academic support in schools through tutoring programs for students of all abilities. The programs can also encourage interest in mathematics applications in business and societal issues by students and teachers. Applicants will be given wide latitude in designing and organizing programs to best utilize local community resources.

Benefits accruing to individual mentors and local communities include:

increased involvement by mentors in local schools and community affairs
increased presence of business professionals in the school system
increased appreciation by students and teachers of the importance of mathematics in the real world

Eligibility

any local school is eligible to apply for funding. Collaboration among school systems, local actuarial clubs, corporations and other stakeholders in education is encouraged in order to enhance the chances of success, particularly on a long-term basis.
preference in funding is given to innovative programs that do not merely replicate existing grant programs

Project Components: The following items are expected to be included in any project:

development of a network of actuaries and others as mentors
a plan to coordinate and manage the mentoring either independently or with other tutoring or volunteer services
a plan to train mentors (this would typically involve other volunteer groups and school officials)
active support from those with a stake in education, such as principals, teachers and school boards
an evaluation plan to measure the ongoing activity and performance of the students and tutors
a reporting plan allowing The Actuarial Foundation to evaluate support of the project

Time Frame for Grants

Grant funding is for two years with evaluation conducted at the end of each year. The Foundation will consider a third year of funding to obtain needed resources to sustain the program long-term.

Sources of Funding

The Foundation encourages co-funding from other sources, particularly within the local community. Local bases of support generally increase the chances of program viability and success, particularly in the long term.

A project budget is required with any project proposal. Present a detailed budget and explain all items. Specify the amount requested from the Foundation and indicate the amounts of any support from other potential funding organizations. Discuss the long-term viability of the project and funding prospects for continuing support.

Application Guidelines

Applications must be submitted in accordance with the specified guidelines.