Bank Foundation Changes Scholarship Approach
The Bank of Bermuda Foundation has changed its process for awarding scholarships to Bermuda’s students, with a focus on its newly developed ‘Theory of Change.’
“The philanthropic organisation recently underwent an intensive strategic planning process, out of which a new and innovative direction for grant giving and scholarship awards was born,” a spokesperson said.
“The Foundation developed a Theory of Change, which enabled it to more clearly articulate its strategic direction and determine how it would implement new processes and procedures needed to accomplish its intended outcomes. The strategy is based upon four spheres of influence: Economic Participation, Education, Healthy Families and Connected Communities.
“Education and scholarships are crucial to the Foundation’s vision for the future. Annual scholarship funding is a priority commitment for the Foundation, which provides $950,000 per annum in scholarships for a wide variety of career choices.”
Margaret Hallett, Foundation Deputy Chair and Chair of the Education Committee said, “Our student recipients represent our hopes and dreams for achieving our vision for the future: We envision that all people in Bermuda are healthy, independent, financially secure and connected to community, with equitable opportunities for all.”
“This year saw the Foundation change the criteria for awarding their scholarships, placing priority on students with financial need, in addition to academic merit. This is in response to its commitment that there are ‘equitable opportunities for people to lead purposeful lives, have financial security and enjoy a sense of belonging in the community.’
“Bank of Bermuda Foundation is extremely proud of the 20 Bermudian students awarded scholarships this year under the new criteria.”
Chair of the Scholarship Committee, Dennis Tucker, said, “We continue to be encouraged and excited by the quality and optimism of all of our recipients and know they will make very meaningful contributions to our community in the future. We feel the future is in good hands.”
Margaret Hallett and Dennis Tucker:
“The list of this year’s awardees can be found online.”
Margaret Hallett, who spoke at the Scholarship Awards Reception, said, “As I read through the student bios, I was struck by several themes that emerged in what you wanted to do: themes were giving back, optimism, building a better world, the human condition, the environment, the economy, health and creativity.
“You covered it all and between you I think you could likely form a really impressive government – we have a minister of national security, a minister of health, a minister of finance, a minister of community and cultural affairs and more.
“I felt I also learned a few things from you. I learned that it is important to be practical – you have chosen career paths that are relevant and necessary in our community – you will have roles to fill in the future. I learned that it is important to be inspired; to find people and experiences that lift you up and to do things that are meaningful for you.
“I learned that it is important to connect with others – you spoke often about the impact of other people and networking on your lives. I learned that it is important to treasure and honour our experiences – to learn from them and truly engage in what we do.
“As my grandfather, who was born in 1882 – such a long time ago – said ‘aim high, there is plenty of room.’ Perhaps other people have said this, but I hope all of you will continue to aim high and be the best you can be.”
“Over the years the Foundation has added new scholarships to its offering including a public schools’ scholarship, supporting those graduating from a public school and wishing to attend university overseas, and a vocational scholarship for those wishing to learn a trade or obtain technical training.
“Bank of Bermuda Foundation invites students and the community to learn more about its Scholarships and deadlines for next year’s awards, by visiting its website.”
