GRAND LODGE SCHOLARSHIP PROGRAM UPDATE

The drastic turndown in the Global Financial market has negatively affected most of us personally over the past twelve months.  This investment challenge has also placed barriers on many public and private programs.  It has negatively impacted the investments in the Vasa Grand Lodge Scholarship Program.  Over the years many generous Vasa members have donated funds which support individual scholarship awards.  The principle donated by these individuals must be safeguarded and only interest earned may be presented in the form of scholarships to deserving students each year.   These investments have also been negatively affected. 

The Grand Lodge Executive Board has therefore regretfully made the difficult decision to place a hold on the Scholarship Program for 2010.  An upward curve in investment earnings is expected later in 2010 and the Board anticipates the Scholarship Program to be financially healthy and able to perform as in the past by 2011.

Bill Lundquist, Vice Grand Master
Scholarship Program Chairman