National Merit Scholarship Corporation
2014–15 Annual Report
BOARD OF DIRECTORS
RICHARD L. KEYSER, Chairman*
Chairman Emeritus
W.W. Grainger, Inc.
MICHAEL G. JOHNSON*
Chief Human Resources Officer
UPS
DIANA M. SCHMELZER, Vice Chairman*
Former Principal
University High School
Irvine, California
TIMOTHY E. McGUIRE*
President
National Merit Scholarship Corporation
DEBORAH V. TRASKELL, Vice Chairman*
Former Executive Vice President
State Farm Insurance Companies
BRIAN F. BEGLEY
Principal
Millard North High School
Omaha, Nebraska
JUDITH L. BONNER
President
The University of Alabama
FRANK J. DELLAQUILA
Executive Vice President and Chief Financial Officer
Emerson Electric Co.
DAVID A. DOHNALEK
Senior Vice President and Treasurer
The Boeing Company
MARK C. DZIATCZAK
Assistant Superintendent for Secondary Instruction
Troy School District
Troy, Michigan
JENNIFER L. MOENCH
Executive Director
NiSource Charitable Foundation
THOMAS J. QUINLAN III*
President and Chief Executive Officer
R. R. Donnelley & Sons Company
WILLIAM E. TROUTT
President
Rhodes College
PAUL G. WEAVER
District Director of Counseling and Guidance
Plano Independent School District
Plano, Texas
JAMES H. WOOTEN, JR.
Former Senior Vice President,
General Counsel and Secretary
Illinois Tool Works Inc.
Honorary Director
JAMES R. DONNELLEY, Former Chairman
M. TIMOTHY GOTT
Principal
Palmetto Scholars Academy
North Charleston, South Carolina
COLLEEN M. HARSIN
Director
The Davidson Academy of Nevada
Reno, Nevada
MICHAEL J. HEILMAN
Superintendent of Schools
Burleigh County School District
Bismarck, North Dakota
JOHN C. HITT
President
University of Central Florida
MATTHEW P. HORVAT
Head of School
The Overlake School
Redmond, Washington
*Executive Committee
OFFIC­­ERS
TIMOTHY E. McGUIRE
President
JEFFREY Z. LITTLE
Executive Vice President
KAMILLA L. SPOEHR
Vice President and Treasurer
RICHARD L. SEVCIK
Secretary
Contents
President’s message. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2
Featured Scholars
Class of 2015 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
Class of 2011. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12
National Merit® Scholarship Program. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22
Sponsors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26
Colleges and universities enrolling
2015 Merit Scholar® awardees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32
National Achievement® Scholarship Program. . . . . . . . . . . . . . . . . . . . . . . . 36
Sponsors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39
Colleges and universities enrolling
2015 Achievement Scholar® awardees. . . . . . . . . . . . . . . . . . . . . . . . . . 40
Financial Report: June 1, 2014–May 31, 2015 . . . . . . . . . . . . . . . . . . . . . . . . 43
National Merit Scholarship Corporation (nmsc) is a private, not-for-profit organization that operates without government assistance. nmsc is exempt from taxation
under Section 501(c)(3) of the Internal Revenue Code; grants and contributions
to nmsc are deductible by the donor under Section 170 of the Code. All nmsc
resources are committed to the conduct of its two annual competitions, the National
Merit Scholarship Program and the National Achievement Scholarship Program.
The corporate “Lamp of Learning” logo
and the names National Merit,
National Achievement, Merit Scholarship, Achievement Scholarship, Merit Scholar, and
Achievement Scholar are federally registered service marks of nmsc. The corporation
enforces its rights in these marks. psat/nmsqt is a registered trademark of nmsc
and the College Board. ap and sat are registered trademarks of the College Board,
which was not involved in the production of this publication. The registration and
service mark symbols appear in this report only on initial use in each chapter for
reasons of style and format.
October 31, 2015
President’s message
National Merit Scholarship Corporation (nmsc) was founded in 1955 to administer the National Merit Scholarship
Program and provide recognition and college scholarships to a highly distinguished and exemplary group of
high school students. In 1964, nmsc expanded its efforts to recognize and honor academically talented students
by creating the National Achievement Scholarship Program, a privately-funded competition for Black American
high school students. The National Merit Program and the National Achievement Program have been funded
separately and conducted simultaneously for five decades, with both programs encouraging the pursuit of academic
excellence at all levels of education.
This has been a milestone year in the history of nmsc. After 51 years of administering the National Achievement
Scholarship Program, nmsc decided to make a significant change to the program and establish a new partnership
with uncf, the nation’s largest and most effective minority education organization. After nmsc has met the
financial obligations of all National Achievement Scholarships awarded through the 2015 competition, including
four-year awards, it will grant the remaining program funds to uncf, which will carry on the name and legacy of the
National Achievement Scholarship Program through the newly established uncf Achievement Capstone Program.
This new program will be administered by uncf and underwritten with funds from the National Achievement
Scholarship Program. Instead of focusing on high school students, the program will honor and award financial
assistance to high-achieving, underrepresented college graduates at Historically Black Colleges and Universities
and Predominantly Black Institutions in the United States. With the restructuring of the National Achievement
Scholarship Program, nmsc will now return to running only the National Merit Scholarship Program.
nmsc would like to thank the many educators and corporate and college sponsors who have been instrumental
in the success of the National Achievement Scholarship Program. The 228,000 students recognized through
the program have made a significant impact across all sectors of American society, and nmsc will continue to
celebrate their many accomplishments for years to come. The many talented individuals named Achievement
Scholars from 1965 to 2015 have demonstrated high potential for success and distinguished themselves greatly
among their peers. They will forever retain the recognition they have earned in the National Achievement
Scholarship Program.
Through the ongoing administration of the National Merit Scholarship Program, nmsc will continue to carry
out its mission by shining a spotlight on brilliant students, encouraging the pursuit of academic excellence, and
promoting a greater respect for learning. nmsc identifies and honors the nation’s highest performing students
each year through the National Merit Scholarship Program, which is open to all U.S. high school students
who meet participation requirements. Scholars are selected through a holistic review that considers academic
accomplishments, community involvement, demonstrated leadership, and more. This process ensures that nmsc
invests in the students who display the greatest potential for future success.
One such student, Kaeli Subberwal, is pictured on the following page. I had the distinct honor of meeting Kaeli
and her father as she prepared to enroll at the University of Chicago. Kaeli is the 2015 recipient of the National
Merit John M. Stalnaker Memorial Scholarship award. This award is underwritten by nmsc in honor of its
founding President, who recognized a need for increased support for science and mathematics education in the
United States. I hope you enjoy reading about Kaeli and the many other Scholars showcased in this report. While
their academic backgrounds and career plans vary a great deal, each of them displays the remarkable perseverance
and commitment to success that distinguish nmsc’s Scholars.
A
Timothy E. McGuire
President
2
2014–15 Annual Report
Kaeli Subberwal
National Merit John M. Stalnaker Memorial Scholarship, 2015
(Left to right) nmsc President Timothy E. McGuire, Kaeli Subberwal, and her father, Atul Subberwal
Kaeli Subberwal is currently attending the University of Chicago, where she plans
to study astrophysics. Kaeli has long been interested in physics and astronomy. In
high school, she founded the cosmology club and volunteered with two after-school
science clubs for middle school students. She also attended summer science
programs: she studied cosmology at Stanford University and physics at Oxford
University. Through research and education, Kaeli hopes to expand our scientific
knowledge of the universe and increase public interest in astronomy and science.
At the University of Chicago, Kaeli has joined the Ryerson Astronomical Society. She
recently traveled with the group to observe stars at the Yerkes Observatory in Wisconsin, and she hopes to join the society’s efforts to restore a university telescope. Kaeli
is also involved with the Society of Physics Students, which hosts weekly lectures and
offers research and internship opportunities that she would like to pursue this summer. Kaeli is presently writing for an online political publication and volunteering as
a tutor in the Neighborhood Schools Program at a nearby elementary school.
Served as the president of the
National Honor Society
Founded the cosmology club
Attended summer science
programs at Stanford University
and Oxford University
Currently attending the
University of Chicago
Considering a major in
astrophysics
Being selected for the National Merit John M. Stalnaker Memorial Scholarship was one of my most
satisfying accomplishments in high school, as it was a gratifying recognition of the years of hard work
I had put into my academics.
National Merit Scholarship Corporation
3
Featured Scholars—Class of 2015
Michael K. Bervell
National Achievement $2500
Scholarship, 2015
4
2014–15 Annual Report
As chief financial officer and executive director of Hugs for Ghana, Michael K. Bervell
provides school supplies, toys, and medical support for children in his parents’ home
country. Michael runs the non-profit organization with his two siblings, who were also
recognized in the National Achievement Program. (His sister Rachel was featured
in nmsc’s 2008–09 Annual Report.) After shadowing a doctor at Seattle Children’s
Hospital, Michael was inspired to create a new branch of Hugs for Ghana focused
on small acts of kindness. He and his peers log nearly 200 hours of community
service for the organization each month by performing live music in retirement
homes, tutoring elementary students, and delivering notes of encouragement to
hospitalized children.
Michael is also the founder and chief financial officer of an application company and
a website building service. He developed a philanthropic initiative which donates
one-tenth of his company’s profits to local community organizations each month.
“Our donations have been small, but the results have been amazing,” he says. Michael
has been recognized for his extraordinary service work by Build-A-Bear Workshop,
Bank of America, and Radio Disney.
President of the Associated
Student Body
Writer, section editor, and
vice president for the school
newspaper
Officer of Hugs for Ghana, a
non-profit aid organization
Captain of debate and knowledge bowl teams
Drummer in a jazz quartet
Currently attending Harvard
College
Planning to study economics
Michael is now at Harvard College. Because of his interests in business, computer
science, and medicine, he plans to pursue a concentration in economics and select
a secondary field in either neuroscience or computer science. He is interested in
writing for the Harvard Crimson or Lampoon, and plans to conduct volunteer work
in Nepal. He will continue drumming, one of his greatest passions, and would like
to establish a jazz quartet at Harvard. He says, “Music fuels my cerebral experience.”
National Merit Scholarship Corporation
5
Vanessa M. Moody
National Achievement Boule
Foundation Scholarship, 2015
I desire to become a well-respected surgeon. The only career I could possibly be content with is one
that tests my limits every single day—facing challenging obstacles in exchange for the highest rewards.
National gymnastics champion
Hospital volunteer
Member of the International
Baccalaureate program
Leadership role in 4-H
Currently attending the
University of Pennsylvania
Considering studies in mathematics and neuroscience
Varsity gymnastics
Vanessa M. Moody fought through the shattering pain of a severely injured back to
become the all-around champion at a national gymnastics competition. After the
meet, she was diagnosed with a vertebra stress fracture and bulging disc, and yet she
returned to the gym within two months. She is now competing with the varsity team
at the University of Pennsylvania, a culmination of 15 years in the sport.
Vanessa’s dedication to gymnastics has not impeded her academic success. “It has
pushed me to strive for perfection in all aspects of my life,” she says. “It has shown me
that the line between possible and impossible only becomes tangible when the mind
constructs it.” While pursuing an intensive training schedule in gymnastics, Vanessa
completed the International Baccalaureate program at her high school, volunteered
at a hospital, and performed community service with the National Honor Society.
Vanessa plans to major in either math or neuroscience and one day become a neurosurgeon. She is confident that she can handle the pressures of college and medical
school because of the immense challenges she has overcome in the past. She says, “I
will approach the years of collegiate medical education required with the same determination I have shown in the past, and I will accomplish this dream.”
6
2014–15 Annual Report
Liam R. Corrigan
Pfizer Inc Scholarship, 2015
Liam R. Corrigan competed internationally in rowing while in high school, representing the United States at both the Junior World Rowing Championships and the
Youth Olympic Games. Liam was also the captain of his school’s rowing team, and
led the group to multiple wins at the state and national levels. Training year-round
for international competition with the USRowing team put significant demands on
Liam’s time, yet he continued his involvement in school activities. He played trumpet
in the school band and wind ensemble, served as co-captain of the varsity basketball
team, competed in first robotics, and co-founded and led a Model UN team.
Member of USRowing’s Junior
National Team
Liam’s many extracurricular accomplishments were matched by his consistently high
academic performance. He took honors, ap, and dual enrollment courses, studied
both Spanish and Chinese, and received numerous awards for his scholastic achievements, including an academic letter and membership in the National Honor Society.
Liam is now attending Harvard College, where he intends to major in physics. He will
continue rowing as a member of the Harvard heavyweight crew team.
Majoring in physics
Played first trumpet in two
school bands
Varsity basketball
Currently attending Harvard
College
Rowing with the Harvard
heavyweight crew team
National Merit Scholarship Corporation
7
8
2014–15 Annual Report
Kathryn DuHadway
National Merit Hillsdale College
Scholarship, 2015
Ballet forced me to develop self-discipline
and perseverance as I walked the tightrope
between schoolwork and dance.
Homeschooled student
Won first place in statewide speech and essay contests
Tutored elementary school students
Editor of a literary magazine
Volunteered at a summer camp for children with special needs
Danced ballet with a preprofessional company
Currently attending Hillsdale College
Considering studies in science
As a member of a preprofessional ballet company,
Kathryn DuHadway spent an average of 17 hours
dancing every week in high school. Her extensive
involvement in dance forced her to develop excellent
discipline and time management. Although ballet
practice left her with numerous injuries, Kathryn
nonetheless calls dance “invigorating” and her “most
cherished hobby.” She says, “Dance has brought me
beauty and it has brought me pain, and I cannot imagine my life without it.”
A homeschooled student, Kathryn completed both ap®
and dual enrollment college courses in high school.
She served as the editor of a literary magazine and won
the post, district, and state levels of the Veterans of Foreign Wars Voice of Democracy speech contest. Kathryn
also completed extensive community service, tutoring
students in a second-grade classroom and volunteering
at camps for children with disabilities. She observes,
“No pleasure derived from focusing solely on my own
needs can quite compare with the knowledge that I
have helped change someone’s life for the better.”
Kathryn is currently pursuing a liberal arts education at
Hillsdale College. She is considering studies in science
because she enjoys problem solving. She is also interested in writing and mathematics. “I see the utterly enthralling beauty in answering a question precisely, fixing
an issue with innovation, or simply learning something
for the first time,” she says. “I hope to put my passion for
creative ideas to use by tackling issues that affect those
around me.”
National Merit Scholarship Corporation
9
Celeste Runnels
National Merit $2500
Scholarship, 2015
President of the National
Honor Society
Selected as her high school’s
Student of the Year
Principal cellist in the advanced
orchestra
Attended a French immersion
program in Nova Scotia
Currently attending Georgia
Institute of Technology
Majoring in engineering
10
2014–15 Annual Report
Celeste Runnels has a passion for science and a belief that “the most important way
to advance the human condition and promote human rights in the modern world is
through science and engineering.” A freshman at the Georgia Institute of Technology, Celeste is majoring in engineering and plans to use her technical education to
fuel her activism. She says, “I hope that my education will improve the lives of others
in the form of the change and progress I am able to bring about due to my academic
background in the field of human rights.” In addition to her academic work, Celeste
hopes to get involved in women’s organizations and play cello in the Georgia Tech
Symphony Orchestra.
Celeste is a President’s Scholar, a highly competitive designation awarded to the top
40 incoming students at Georgia Tech each year. Along with a full scholarship, she will
have access to an engaged community, one-on-one mentoring, and employment opportunities. Celeste can also participate in annual retreats with her cohort and enjoy
travel opportunities both within the U.S. and internationally.
Christopher R. Larry
National Achievement NMSC Scholarship
(and National Merit Finalist), 2015
As a senior in high school, Christopher R. Larry attended an immersive science and
engineering program at Massachusetts Institute of Technology (mit). In his six weeks
at Minority Introduction to Engineering and Science (mites), Christopher learned
the value of collaborating to solve scientific problems. “This experience taught me
that constructive group interaction and working with others, rather than being competitive or independent, is often the best way to achieve a goal,” he says.
President of the math club
Christopher graduated high school as the salutatorian of a large class. “This accomplishment represents the manifestation of four years of hard work and dedication,”
he says. “It validates countless hours of studying and striving to better myself and my
mind.” Christopher is now studying electrical engineering and computer science at
mit because he considers technology to be “an integral part of life.” He is interested
in creating devices that can complete tasks without human input and says, ”By applying the things I will learn, I can bring change to many people by creating technological devices and systems that facilitate daily life.”
Currently attending
Massachusetts Institute of
Technology
Worked as a math instructor
Key Club Outstanding Service
Award
Performed community service
Majoring in electrical engineering and computer science
National Merit Scholarship Corporation
11
Featured Scholars—Class of 2011
Lucy M. Richardson
National Merit $2500 Scholarship, 2011
12
2014–15 Annual Report
From testing drinking water in Rwanda to
piloting new projects in south Texas and
Bolivia, I learned a tremendous amount about
engineering in the developing world and mentoring
younger engineering students.
Southern Methodist University
Majored in civil engineering, minored in art history
Worked internationally with Engineers Without Borders
President of SMU’s chapter of Chi Epsilon, a civil engineering
honor society
Completed three engineering internships
Summa cum laude
Pursuing a master’s degree in civil engineering at Purdue University
Recipient of the David M. Knox Fellowship
At Southern Methodist University (smu), Lucy M.
Richardson combined her diverse academic interests by
majoring in engineering and minoring in art history.
She had the opportunity to study art and architecture
in Italy, where she and her classmates received private
tours of the Vatican Museum and the Sistine Chapel.
Lucy also traveled to Peru to visit Machu Picchu with an
Inca art history class.
Lucy took on leadership roles in two engineering organizations at smu. As the vice president of projects for
Engineers Without Borders, she tested drinking water
in Rwanda and implemented pilot projects in both
Bolivia and Texas. She also served as the president of
her university’s chapter of Chi Epsilon, a civil engineering honor society. Lucy completed three summer internships with engineering firms that focus on
transportation, which led her to pursue a career as a
consultant in traffic engineering and operations.
In addition to improving mobility and accessibility,
Lucy says she hopes her work in traffic engineering will
enable her to improve traffic signal systems and work
on emerging technology for intelligent transportation
systems. Lucy is currently attending graduate school
at Purdue University, where she is seeking a master’s
degree in civil engineering. She has been awarded
Purdue’s David M. Knox Fellowship, which is granted to
students who increase the diversity of backgrounds and
experiences within the graduate school.
National Merit Scholarship Corporation
13
Abigail X. Xu
National Merit Northrop
Grumman Scholarship, 2011
In law school and beyond, I will not be content
with just studying and practicing law to benefit
individuals. My legal education at Stanford will shape
me so that I can go on to help shape the future of law
and society to empower the unheard.
Amherst College
Majored in political science and economics
Served as treasurer of student government
Internship with the U.S. Department of Justice
Graduated with honors
Attending Stanford Law School
Recipient of the John Woodruff Simpson Fellowship
While Abigail X. Xu studied political science and economics at Amherst College, she completed internships
at several law firms. The opportunities enabled her to
quickly gain experience in her field and witness firsthand the impact of the law on individuals needing its
protection. “I discovered the legal profession’s ability
to give voice to those who have been silenced,” she explains. “With this discovery, I uncovered the purpose to
which I will dedicate my career.”
As an intern at the U.S. Department of Justice’s Criminal Division, Abigail assisted attorneys working on international issues and was exposed to legal professionals
visiting from around the world. She says, “I realized that
the law’s reach is expanding across borders due to the
globalizing world and that my future career responsibilities can and should as well.” She continues, “As a
lawyer, I hope to address the far-reaching consequences
of our laws and collaborate with other governments to
strengthen the rule of law and to improve the quality of
life around the world.”
Abigail is now enrolled in law school at Stanford
University as a member of the class of 2018. She plans to
work in both the public and private sectors and continue
her commitment to service and integrity throughout
her career. A first-generation U.S. immigrant, Abigail
hopes to use her voice to expand the equal protection
of the law to more individuals and communities who
need it. She maintains, “Everyone has a right to speak,
to be heard, and to be treated equally.”
14
2014–15 Annual Report
Jason C. Silverman
National Merit $2500 Scholarship, 2011
University of Southern California
Majored in astronautical engineering
Chief design engineer at the USC Rocket Propulsion Laboratory
Recipient of USC’s Mork Family Scholarship
Two-time winner of the Astronaut Scholarship
Completed a bachelor’s degree and a master’s degree in four years
Working at SpaceX as a structures engineer
Jason C. Silverman earned a bachelor’s degree and a
master’s degree in astronautical engineering from the
University of Southern California (usc). As an incoming freshman, he was one of only ten recipients of the
Mork Family Scholarship, an internationally competitive, full-tuition award for usc students. He was further
honored in both his junior and senior years of college
when he was selected as a winner of the prestigious
Astronaut Scholarship, an award provided by a foundation created by the Mercury 7 astronauts in order to
support U.S. students of science and engineering.
In his time at usc, Jason served as the avionics lead,
structures lead, webmaster, and chief design engineer at
the usc Rocket Propulsion Laboratory, and conducted
research on space trajectories in Beijing at China’s
renowned Tsinghua University. He also completed two
summer internships at SpaceX, working in both thermal control and life support engineering. His research
in Beijing and time at SpaceX affirmed his choice to
pursue a career in aerospace engineering.
Jason continued to work part-time at SpaceX during
his senior year in college and is now a structures engineer for the company. He is working on the life support
system for the Dragon 2 crew capsule, a vehicle designed
to hold up to seven crew members and provide more
economical access to Earth orbit, the International
Space Station, and lunar missions. In his career in aeronautical engineering, Jason hopes to contribute to space
exploration and efforts to engineer a self-sustaining civilization on Mars. He believes that “space exploration is
a vital outlet for humanity’s will to explore, as well as a
catalyst for new technologies and philosophies.”
National Merit Scholarship Corporation
15
Lila Neahring
National Merit $2500 Scholarship
underwritten by State Farm Companies
Foundation, 2011
Photo Credit: Toby Butterfield
Stanford University
Majored in biology
Studied immunology at Oxford
University
Founder of the Stanford
Climbing Team
Graduated with distinction
Working as a Stanford researcher
Plans to attend medical school
and earn a PhD
Lila Neahring is pursuing a career as a physician-scientist to study the biology of
cancer. Lila has spent years researching the signaling pathways of cells implicated in
some cancers. Her course work and independent research at Stanford University and
studies in immunology at Oxford University have given Lila a foundation in scientific
thinking and the opportunity to apply her knowledge to unsolved questions. She
explains, “I have truly found a field where my passions intersect with the needs of
society. I look forward to using my career in research to help unravel scientific
mysteries that will pave the way for new medical treatments.” While she continues to
conduct her work in a laboratory at Stanford, she is applying to MD-PhD programs.
Lila has received much recognition for her stellar academic work. She graduated
with distinction and was a recipient of the J.E. Wallace Sterling Award for Scholastic
Achievement, given to the top 25 graduates of the School of Human­ities and Sciences
at Stanford each year. Lila was also recognized for her honors thesis—she earned the
Firestone Medal for Excellence in Undergraduate Research, which is awarded to the
top 10 percent of honors theses in science, social science, and engineering.
An avid climber, Lila founded the Stanford Climbing Team as an undergraduate and
directed the group for four years. In 2015, the team was presented with the Sherry
Posthumus Club Sports Team of the Year Award, given to a team displaying excellence in athletic performance or community service. The team placed sixth at the
Collegiate Climbing Nationals and Lila placed fourth individually.
16
2014–15 Annual Report
Having
outside
support from the
scholarship reminded me
that my education is a
responsibility as well as a
gift; college provided me
with the tools to take on
problems facing society
today, and as a recent
graduate, I can’t wait to
get started.
Photo Credit: Aja Neahring
National Merit Scholarship Corporation
17
Matthew D. Hing
National Merit $2500
Scholarship, 2011
Personally, I understood this honor not as a reward for my past activities, but a charge to continue
pursuing excellence in my future. This award carries a weight—a responsibility—distinct from any
other honor.
University of Notre Dame
Majored in Spanish and
preprofessional studies,
minored in peace studies
Public health internship in
Nicaragua
Medical internships in Mexico
Magna cum laude
Phi Beta Kappa
Completing an international
development fellowship
Planning to attend medical
school and pursue a
simultaneous degree in public
health or public policy
18
2014–15 Annual Report
While still an undergraduate at the University of Notre Dame, Matthew D. Hing
engaged directly with complex global health problems in the developing world. In
Puebla, Mexico, Matthew completed an internship at an hiv/aids clinic and shadowed medical students at public hospitals to study surgery and obstetrics. During
an internship in Jinotepe, Nicaragua, he worked with staff members at a small,
government-run clinic to establish a program to provide improved services and education for pregnant women in remote areas. The program empowered women to act
as healthcare providers within their communities.
In addition to his work abroad, Matthew volunteered extensively with South Bend
aids Ministries, Catholic Relief Services, and the South Bend Center for the Home-
less. He received a number of awards at Notre Dame in recognition of both his commitment to service and his academic accomplishments. His senior thesis project,
which examined medical workers’ responses to gender-based violence in Nicaragua,
was selected for presentation at multiple conferences and acknowledged as one of
the five best theses in the university’s honors program.
Currently, Matthew is completing a year-long fellowship funded by Notre Dame’s
Kellogg Institute. He works with a local organization to improve long-term care for
people with chronic illnesses in Chiapas, Mexico. At the conclusion of his fellowship,
Matthew plans to attend medical school and pursue a simultaneous degree in either
public health or public policy. He says, “I hope to always work toward improving
global health equity as both a physician and as an advocate.”
Briana D. Brooks
National Achievement $2500
Scholarship, 2011
Being selected for this scholarship helped validate me, but it also helped me take the first step towards
the rest of my life.... It really helped further motivate me to do my best and get the most I could out of
my college experience.
Through an integrated business program, Briana D. Brooks has worked toward her
undergraduate and graduate degrees simultaneously at the University of Texas at
Austin. She had the opportunity to study international accounting policies through
a program in Paris, France, and recently completed a bachelor’s degree in business
administration with a double major in accounting and business honors. She is currently finishing her master’s degree in professional accounting and will soon sit for
the cpa exam with the intention of becoming a Certified Public Accountant.
Briana completed internships with Ernst & Young in Christchurch, New Zealand, and
Dallas, Texas, and plans to begin working for the firm as a public accountant after
finishing her master’s program this summer. The internships, she says, gave her a
broader view of her profession and enabled her to, in her words, “transform my classroom knowledge into real world experiences and feel confident in my career choice.”
Briana has decided to pursue auditing so she can do her part to “monitor financials
and be the watchdog for the public that auditors are designed to be.”
University of Texas at Austin
Majored in accounting and
business honors
Studied abroad in France
Completed internships with
Ernst & Young in New Zealand
and Texas
Pursuing a master’s degree
in professional accounting
Plans to become a Certified
Public Accountant and work
at Ernst & Young
National Merit Scholarship Corporation
19
Rice University
Majored in mechanical engineering and focused on environmental
sustainability
Winner of a Udall Scholarship
Volunteered in Ecuador and studied abroad in Australia
Completed an internship in China
Summa cum laude
Phi Beta Kappa
Received a Watson Fellowship to pursue international research in
sustainable design
Zachary H. Bielak is currently traveling around the
world with support from a Thomas J. Watson Fellowship
to research and analyze sustainable design solutions.
Zachary will spend a full calendar year working on projects in Chile, Sweden, Ghana, India, Japan, and Korea
to learn the social effects of sustainability projects ranging in complexity from water filters to fully planned
cities. The fellowship, funded by the Watson Foundation, gives students the opportunity to plan and execute
global projects of their own design.
While studying mechanical engineering at Rice University, Zachary had the opportunity to work and study
in several countries, strengthening his interest in both
international work and the environment. He took
classes in engineering and social sustainability during
a six-month study abroad program in Australia. He
also volunteered to teach in the local schools of a small
town in Ecuador. In Shenzhen, China, he completed
an internship with the sustainability department of a
supply chain company, implementing social programs
to improve working conditions in local factories and
installing devices to track and lower energy use in product manufacturing.
In recognition of his significant environmental work,
Zachary was awarded a Udall Scholarship. The highly
competitive award is granted by the Udall Foundation,
an organization established by the U.S. Congress to
support both natural resources and Native American
communities. Zachary explains, “I chose engineering
because I truly feel that through technological products (be it buildings or consumer products or cities as a
whole), I can help better the lives of people around the
world and make a positive impact on both environment
and society.”
20
2014–15 Annual Report
Zachary H. Bielak
National Merit $2500 Scholarship
underwritten by 3M Company, 2011
If you truly want to make the world around you better, please consider
funding scholarships like these: by supporting students to fulfill their
passions and dreams, you pay it forward to future generations and help make
this world a better place.
National Merit Scholarship Corporation
21
National Merit ® Scholarship Program
Identifying scholastically talented youth and bringing
them to the attention of colleges and universities and
the American public are enduring goals of the National
Merit Scholarship Program. In the 60 competitions
completed to date, over 2.9 million outstanding students have been honored, and approximately 372,000
academic champions have received scholarships worth
over $1.5 billion for undergraduate study.
Each annual Merit Scholarship® competition spans
about 18 months. The program begins when high
school students enter the competition for recognition
and college scholarships, typically in the fall of their
junior year, by taking the Preliminary sat/National
Merit Scholarship Qualifying Test (psat/nmsqt ®)
administered at approximately 22,000 schools. The
program concludes when winners of scholarships are
notified in the spring of their senior year.
Program Recognition
In October 2013, about 1.5 million students took the
psat/nmsqt and met participation requirements to
enter the 2015 National Merit Scholarship Program.
Some 50,000 students earned psat/nmsqt scores that
qualified them for recognition. In the fall, at the beginning of their senior year, these high scorers were
notified that they would be designated as either
Commended Students or Semifinalists.
Annie W. Graves is pursuing a double major in electrical engineering and
music at the University of Pennsylvania. Annie believes this combination
of majors will prepare her for a career in audio engineering. She would also
like to study abroad in Japan and the United Kingdom as an undergraduate. Annie is the recipient of a 2015 National Merit Dow Chemical
Company Scholarship.
22
2014–15 Annual Report
Commended Students
In the 2015 program, 37,705 entrants (approximately
two thirds of high scorers) were named Commended
Students on the basis of a nationally applied qualifying
score. Although they did not continue in the competition for National Merit Scholarships, some of these
students became candidates for Special Scholarships
provided by corporate sponsors. Students in this group
received Letters of Commendation in recognition
of their outstanding performance on the qualifying
test and their potential for success in challenging
college studies.
Semifinalists
There were 16,307 participants designated Semifinalists
(approximately one third of high scorers) on a staterepresentational basis. These students were the topscoring entrants in each state and the only program
participants who had the opportunity to continue in the
competition for Merit Scholarship awards by fulfilling
additional requirements. In addition to designating
Semifinalists in each state, nmsc has created selection
units for participants attending high schools in the District of Columbia, U.S. commonwealths and territories,
schools in other countries that enroll U.S. citizens, and
U.S. boarding schools that enroll a sizable proportion
of students from outside the state in which the school is
located. nmsc sent Semifinalists’ names to U.S. colleges
and universities to broaden the students’ educational
opportunities, and a press release about them was sent
to news media.
Finalists
From the Semifinalist group, 15,121 students were
notified in February 2015 that they met academic and
other requirements to become Finalists and were being
considered for Merit Scholarship awards. The requirements to attain Finalist standing include submitting a
detailed scholarship application, having an outstanding academic record in all of grades 9­–12, submitting
sat ® scores that confirm the earlier psat/nmsqt
performance, and being endorsed and recommended
by a high school official. Approximately 90% of Semifinalists fulfilled these requirements. High school
officials were sent Certificates of Merit to present to
these outstanding students.
Scholars
About 8,700 Merit and Special Scholarship winners
were chosen on the strength of their credentials
and potential for future success, without regard for
2015
Program
Entrants
Mason R. Wilde, a 2015 National Merit $2500 Scholarship winner,
founded a non-profit organization as a high school student to create free
prosthetic hands for children in need. He is now studying mechanical engineering at the University of Kansas and plans to continue to learn and help
develop medical and prosthetic innovations to improve people’s lives across
the globe. Mason is also a talented athlete and qualified for the state track
meet in all four years of high school.
gender, race, ethnic origin, or religious preference.
Every Scholar received a certificate in recognition of his
or her award.
A total of 7,468 Merit Scholar® designees in 2015 were
chosen from the Finalist group to receive Merit Scholarship awards worth a total of $32.1 million. The rigorous
review process that Semifinalists undergo to advance in
the competition results in a talent pool of exceptional
Finalists who compete for National Merit Scholarships.
The names of Merit Scholar awardees were released
to news media in four separate announcements in the
spring and summer.
An additional 1,218 outstanding program participants,
who were not Finalists but met criteria specified by corporate and business sponsors, received Special Scholarships valued at $11 million. These Special Scholarships
are provided by corporations, company foundations,
and business organizations to complement their Merit
Scholarship awards. Special Scholarship winner
announcements were handled independently by the
corporate sponsors.
Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
District of Columbia
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
New York
North Carolina
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
South Carolina
South Dakota
Tennessee
Texas
Utah
Vermont
Virginia
Washington
West Virginia
Wisconsin
Wyoming
Other
Selection Units
TOTAL
Commended
Students
Semifinalists
11,753155 223
2,19045 37
20,798506 289
5,98864131
180,7957,001 2,124
18,762513 250
31,312772 186
6,60296 47
4,143
198
47
67,5751,120 830
35,0261,036 454
5,661117 64
8,094106 82
37,6001,469 735
32,429563 343
7,653145 158
8,493262 154
11,176195 208
11,457136 219
10,184136 74
41,9011,267 304
47,9531,920 352
25,544574 567
18,114651 288
5,89160136
13,145324 330
3,98932 49
5,480101 99
7,63474103
7,612
135
83
73,569
2,580
521
6,564
89
96
132,598
2,906
1,017
40,842
734
462
1,704
0
35
46,6901,065 614
7,762102 191
15,133438 177
69,8731,565 682
5,587
89
52
17,714
198
207
2,244
9
42
14,585408 319
204,3063,517 1,334
5,772122 156
3,71090 38
47,1391,476 407
36,8701,049 317
3,500
0
59
16,898294 314
1,102926
20,335
1,192
275
1,469,45137,705 16,307
National Merit Scholarship Corporation
23
National Merit Program scholarships
National Merit Scholarships vary in a number of ways,
including candidate criteria and monetary value. Although eligible candidates can be considered for
more than one type of scholarship, they can receive
only one monetary award through nmsc. The awards
must be used by Scholars for undergraduate study at
regionally accredited colleges and universities in the
United States.
National Merit ® $2500 Scholarships
The National Merit $2500 Scholarships are an integral part of the National Merit Scholarship Program
because all Finalists compete for these awards and
winners are named in every state and selection unit.
A Selection Committee, made up of college admission officers and high school counselors, convenes to
select winners of these one-time awards. In the 2015
program, most of the 2,500 National Merit $2500
Scholarships were financed by nmsc with its own
funds. Business organizations that provide corporatesponsored awards also helped underwrite a portion of
these scholarships with grants they provided in lieu of
paying administrative fees.
Corporate-sponsored scholarships
These scholarships are either four-year renewable
awards that provide stipends ranging from $500 to
$10,000 per year or single-payment awards of $2,500 to
$5,000. They consist of two types:
Merit Scholarship awards. Most corporate-sponsored
Merit Scholarship awards are offered to Finalists in the
National Merit Scholarship Program who are children
of the grantor organization’s employees or members.
Some awards are designated for Finalists who reside in
communities specified by the sponsor, and a few are
provided for Finalists who are planning college majors
or careers the sponsor wishes to encourage. Only Finalists in the National Merit Scholarship Program who
meet a sponsor’s criteria are considered for that sponsor’s National Merit Scholarships.
Special Scholarship awards. Approximately two-thirds
of the corporations, company foundations, and
business organizations that fund Merit Scholarship
awards for Finalists in the National Merit Program
also provide funding for Special Scholarships. The
number of Finalists eligible for a particular sponsor’s
scholarships varies from year to year, but many sponsor
24
2014–15 Annual Report
During high school, Jordan J. Kleist raised funds for band and choir tours
that allowed him to travel to New York, Los Angeles, and Chicago. In his
senior year, he received a superior rating for his solo in a statewide choir
and ensemble contest. A winner of a 2015 National Merit University
of Minnesota Scholarship, Jordan plans to major in physics, sing in choir,
and play intramural tennis in college.
organizations want to provide a fixed number of awards
in each competition. These sponsors use nmsc’s
services to supplement their National Merit Scholarships with Special Scholarships for high-performing
program participants who are not Finalists. Corporate
scholarships are usually named for the grantor organization; however, the “National Merit” designation is not
included in the Special Scholarship name. To be considered for a Special Scholarship, students must meet
the sponsor’s specific criteria in addition to the participation requirements of the National Merit Scholarship
Program. An Entry Form for the student must also be
submitted to the sponsor organization.
This year, the 236 corporations, company foundations,
and other business organizations listed on pages 27–31
committed over $18 million to finance 1,014 National
Merit Scholarships and 1,218 Special Scholarships.
College-sponsored Merit Scholarship awards
Only National Merit Program Finalists who notify
nmsc of plans to attend a sponsoring college and are
admitted to the institution are considered for the
awards financed by the institution. College-sponsored
scholarships, which can be used only at the college or
university financing the award, are renewable annually
and provide stipends ranging from $500 to $2,000
per year. In the 2015 National Merit Program, 3,954
college-sponsored awards worth $18.7 million were
funded by 183 U.S. colleges and universities, which are
listed on pages 27–31.
Merit Scholars of 2015
The 7,468 Merit Scholarship recipients come from
every state in the nation and from varied ethnic and
socioeconomic backgrounds. They have demonstrated
outstanding academic ability throughout high school
and are a particularly high-achieving group.
The following statistics of National Merit Scholars’ grade
averages, class ranks, average sat scores, and honorslevel courses taken are compared with those of more
than one million college-bound seniors of 2015 who
took the sat. The information was provided by students
when registering to take the sat. (These data are used
with permission of the College Board, which sponsors
the sat.)
Academic Performance
99.1% of Scholars had a high school grade average of Aor above compared to 48% of all college-bound seniors.
Percent taking honors-level courses
National Merit Scholars take greater advantage of their high
schools’ honors-level courses in core academic and elective
fields than their college-bound peers.
Scholars
College-bound seniors
100
80
60
40
20
0
English
Mathematics
Natural/
physical
sciences
Social
sciences/
history
Foreign
languages
95% of Scholars who attended high schools that rank
students were in the top tenth of their class compared
to 35% of all college-bound seniors.
Scholars also performed extremely well on objective
measures. On a scale ranging from 200 to 800, the
2015 Scholars’ average sat critical reading score was
749, the average mathematics score was 747, and the
average writing skills score was 734. The total group of
college-bound seniors, by comparison, had average
scores of 495, 511, and 484, respectively.
Tentative college majors
The fields of study listed below were selected by 3%
or more of National Merit Scholars when applying for
their scholarships.
Engineering - 25% Biology or biomedical science - 13%
Physical sciences - 6% Social sciences or psychology - 6% Business or finance - 5% Computer and information sciences - 5% Health and clinical science professions - 5% Mathematics or statistics - 5% English, journalism, or creative writing - 3%
History, humanities, or pre-law studies - 3%
Paige M. Rudin dribbles the ball down the field during a high school varsity
soccer game. Currently, Paige is in the first-year honors engineering program
at Purdue University. She intends to major in biomedical engineering with
a neuroengineering focus. She was drawn to this field after watching her
grandfather’s fight with ALS. She would like to work toward improving the
lives of those affected by neurodegenerative diseases. Paige is the recipient
of a 2015 National Merit Dow Chemical Company Scholarship.
National Merit Scholarship Corporation
25
Sponsors
The National Merit Scholarship Program strives
to provide scholarships for as many students as
possible. With the support of 419 independent sponsor organizations, approximately half of the Finalists
and a substantial number of other deserving program
participants in the 2015 competition received scholarships for their undergraduate education. Corporations,
foundations, and other business organizations have
provided scholarships in all 60 Merit Scholarship
competitions completed to date. Colleges and universities began underwriting awards in 1963. In 2015,
sponsor organizations financed 72% of the scholarships
awarded. All funds provided by sponsors are used for
scholarships and are 100% tax-deductible.
Corporate sponsorship
The 236 corporate organizations that sponsored awards
in the 2015 competition represent the broad spectrum of U.S. business, including many Fortune 500
companies. They share the belief that supporting the
educational development of intellectually talented
youth is a wise investment in the future, and they value
the relationships they develop with their award recipients. Commonly regarded as the highest honor a U.S.
high school student can attain, the Merit Scholar title is
a distinction with which corporate sponsors are proud
to be associated.
Through a formal agreement with nmsc, corporate
and foundation sponsors tailor their programs to fit
nmsc President Timothy E. McGuire
(second from right) congratulates
Courtney N. Catris and her parents, David and Kimberly Catris,
during their visit to nmsc’s office.
Courtney is the recipient of a 2015
Bunzl USA, Inc. Scholarship.
Bunzl USA, Inc. supports Merit
Scholarship awards and Special
Scholarships for children of its employees and has been a sponsor
in the National Merit Scholarship
Program since 1991. Courtney is
in the School of Journalism at the
University of Missouri-Columbia.
She is studying strategic communications with a minor in business.
26
2014–15 Annual Report
their objectives by specifying candidate qualifications
that match their particular interests. The number of
scholarships a company or foundation offers annually
ranges from one to more than 100. These sponsors also
select the monetary limits of scholarships they finance.
All aspects of program management, from identification of candidates to distribution of scholarship
payments to winners, are handled by nmsc without
charge. Services include providing sample materials
for publicizing a sponsor’s program, Web-based entry
for award candidates, scholarship application processing, selection and notification of award winners, public
announcement of National Merit Scholarship recipients, and certificates for presentation to winners. nmsc
also monitors the Scholars’ progress during their undergraduate years and sends their sponsors periodic
status reports.
College and university sponsorship
The 183 higher education institutions that provided
Merit Scholarship awards in 2015 range from small
private colleges to flagship state universities, and they
all share the ability to attract National Merit Program
Finalists to their campuses. nmsc provides college
sponsors with lists of Finalists who have selected their
institutions as first choice; college officials then choose
the winners of their institutions’ awards. nmsc sends
scholarship offers to winners, issues press releases,
provides certificates for presentation to Scholars, and
administers the awards during the recipients’ undergraduate years, all without charge.
Sponsors and the scholarships they supported in the 2015 National Merit® Scholarship Program
Sponsor
Merit Special
AbbVie Inc.
6
Abilene Christian University
5
Accenture llp
6
Acushnet Company
1
2
adp Foundation
1525
Advocate Medical Group2
Aerojet Rocketdyne Foundation
19
Air Products and Chemicals, Inc.
5
Akzo Nobel Inc.
24
Albany International
2
The Allergan Foundation
9
Alliance Data Systems Corporation
2
Alma College
2
Ameren Corporation Charitable Trust
32
American City Business Journals, Inc.
1
1
American Electric Power Company, Inc.
5
American Financial Group
1
1
American University
9
AmerisourceBergen Corporation
17
The ametek Foundation
7
Anadarko Petroleum Corporation
4
Aon Foundation
93
Apache Corporation
1
Archer Daniels Midland Company
19
Arizona State University
94
Arkema Inc. Foundation
22
Armstrong Foundation
46
asc Partners, llc
2
asm Materials Education Foundation
1
Astellas us llc
2
AstraZeneca Pharmaceuticals lp
10
Auburn University
51
Avantor Performance Materials, Inc.
11
Baker Hughes Foundation
1
Ball State University
2
basf Corporation
13
Battelle
14
Bayer usa Foundation
520
Baylor University
53
Bentley Systems, Incorporated
1
Bethel University
3
Trust Under The Will of Mary E. Beyerle
8
Black & Veatch Corporation
2
bmc Software, Inc.
2
bnsf Railway Foundation
3
The Boeing Company
42
BorgWarner Inc.
2
2
Boston College
4
Boston University
29
Sponsor
Merit Special
Bowdoin College
28
bp Foundation, Inc.
933
Bradley University2
Branch Banking & Trust Company
28
Brandeis University
9
Bridgestone Americas Trust Fund
239
Brigham Young University
42
Bristol-Myers Squibb Foundation, Inc.
1431
Broadridge Financial Solutions, Inc.
22
Brocade Communications Systems, Inc.
3
Brooks Brothers Group, Inc.
2
Bucknell University
5
Bunge North America, Inc.
2
Bunzl usa, Inc.
5
Butler University
3
caci International Inc
5
California Resources Corporation
2
Calvin College
12
Cardinal Health Foundation
3
Carleton College
45
Carlisle Companies Incorporated
2
Carpenter Technology Corporation
13
Case Western Reserve University
44
cbs Corporation
3
cc Services, Inc.
5
cdk Global, llc 24
Centre College
1
Chemtura Corporation3
Chevron u.s.a. Inc.
15
Chico’s fas, Inc.
3
Citizen Watch Company of America, Inc.
25
Claremont McKenna College
11
Clemson University
41
Colby College (Maine)
4
Colgate-Palmolive Company
211
College of Charleston
3
College of Wooster
3
Colorado College
7
Colorado State University
3
Computer Aid, Inc.
2
Computer Sciences Corporation
6
ConAgra Foods Foundation
2
Concordia College (Minnesota)
4
consol Energy Inc.
26
Corning Incorporated
5
Corporate sponsor grants
94
Covidien
210
Creighton University
1
csx Corporation8
National Merit Scholarship Corporation
27
Sponsors and the scholarships they supported in the 2015 National Merit® Scholarship Program (continued)
Sponsor
Merit Special
Sponsor
Merit Special
Cytec Industries Inc.
3
Gustavus Adolphus College
2
Davidson College
3
Harding University
6
The Delphi Foundation4
Harris Corporation
2
Denison University
2
Harsco Corporation Fund
1
1
dentsply International Inc.
1
Harvey Mudd College
29
DePauw University
3
H. J. Heinz Company Foundation
1
Dickinson College7
Hendrix College
10
R. R. Donnelley Foundation
518
Henkel Corporation
14
The Dow Chemical Company Foundation
15
Hillsdale College
8
Dow Jones & Company, Inc.
38
Hope College
3
Drake University
3
Hormel Foods Corporation Charitable Trust 18
e*trade Financial Corporation
2
Houghton Mifflin Harcourt
11
Eastman Chemical Company Foundation, Inc.
6
The Harvey Hubbell Foundation
3
Eaton Charitable Fund
510
Illinois Tool Works Foundation
118
Electrolux North America
1
1
Illinois Wesleyan University 2
Emerson Charitable Trust10
Indiana University Bloomington
50
Emory University
46
Ingalls Shipbuilding Division of Huntington 1
3
Ingalls Industries
Essentra Holdings Corporation
1
Ingersoll-Rand Charitable Foundation
Estee Lauder Companies Inc.
3
8
Ethicon, Inc.
2
Insperity Services, l.p.
22
Eversource Energy
3
International Union of Bricklayers
1
2
FedEx Custom Critical, Inc.
3
and Allied Craftworkers
Iowa State University
FedEx Freight Corporation 20
25
FedEx Ground Package System, Inc.
15
Ithaca College
3
Ferro Corporation
11
Jacobs Engineering Foundation
7
Fifth Third Foundation
124
Janssen Pharmaceuticals, Inc.
32
Florida State University
22
Janssen Research & Development, llc3
Fluor Foundation
3
Janssen Supply Chain
12
fmc Corporation
3
John Bean Technologies Corporation
1
1
fmc Technologies, Inc.
2
Johnson & Johnson World Headquarters
2
Fordham University
38
Kalamazoo College
4
forum Pharmaceuticals Inc.
2
Kaman Corporation
2
1
Franklin and Marshall College
1
Kansas State University
8
fts International, llc
1
The Kennametal Foundation
5
Furman University
10
Kenyon College
21
gaf
2
Knovel
2
Gannett Foundation, Inc.
210
Knox College
1
Genentech, Inc.
20
lanxess Corporation
2
General Dynamics
15
Lawrence University (Wisconsin)
12
General Dynamics Ordnance and Tactical Systems
2
Lehigh University
7
General Mills Foundation 4
Leidos, Inc.
7
George Washington University
14
Lennox International Inc.
16
Georgia-Pacific Foundation, Inc.
3 47
Lewis & Clark College (Oregon)
1
gkn Foundation
23
Liberty Mutual Scholarship Foundation
327
Gleason Family Foundation
3
Liberty University
21
Gordon College (Massachusetts)
3
lmi Aerospace, Inc.2
Goshen College3
Lockheed Martin Corporation Foundation
4258
W.W. Grainger, Inc.
19
Loews Foundation
2
Greyhound Lines, Inc.
1
4
Lord & Taylor Foundation
2
Grinnell College
18
Louisiana State University
16
28
2014–15 Annual Report
Sponsor
Merit Special
Louisiana Tech University
8
Loyola University Chicago
8
lpl Financial
3
6
The Lubrizol Foundation
1
Luther College
5
Luxottica Retail North America Inc.
4
Macalester College
27
Macy’s, Inc.
945
Mallinckrodt Enterprises llc
2
3
Mannington Mills, Inc.
1
Marquette University
5
Marsh & McLennan Companies, Inc.
713
McDonald’s usa
2
McGraw Hill Financial, Inc.
33
McKesson Foundation Inc.
812
Mead Johnson & Company, llc
1
1
Mead Witter Foundation, Inc.
10
Messiah College
2
MetLife Foundation
9
Miami University-Oxford
9
Michigan State University
36
Michigan Technological University
4
Millennium: The Takeda Oncology Company
1
2
Mississippi State University
33
Missouri University of Science and Technology
4
The mitre Corporation
2
Montana State University-Bozeman
5
The Moody’s Foundation
2
Motorola Solutions Foundation
10
National Distillers Distributors Foundation
10
National Merit Scholarship Corporation
2,407
Nationwide Foundation
7
New College of Florida
7
New Jersey Manufacturers Insurance Company
3
New York Life Foundation
8
Sponsor
Merit Special
The NewMarket Foundation
2
NextEra Energy Foundation, Inc.
2
NiSource Charitable Foundation
219
Norfolk Southern Foundation
28
North Dakota State University
8
Northeastern University (Massachusetts)
67
Northrop Grumman Corporation
1832
Northwestern University
146
Novartis us Foundation
20
Novo Nordisk Inc.
2
Oberlin College
25
Occidental College
2
Occidental Petroleum Corporation
1
O’Donnell Foundation
2
Ohio University-Athens
1
Oklahoma Christian University
5
Oklahoma City University3
Oklahoma State University
16
Old National Bancorp
3
Franklin W. Olin College of Engineering
7
omnova Solutions Foundation, Inc.
2
Omron Foundation, Inc.
5
Oregon State University
4
Ouachita Baptist University
3
Owens Corning Foundation
2
Parker Hannifin Foundation
6
Payless ShoeSource, Inc.
5
Frank E. Payne and Seba B. Payne Foundation
1
The Penn Mutual Life Insurance Company
1
Pennsylvania State University
5
Pepperdine University
4
The PepsiCo Foundation, Inc.
17
Pfizer Inc
2525
Pilkington North America, Inc.
2
Pomona College
6
William P. Lauder, Executive Chairman of the Estee Lauder Companies Inc.,
presents a 2015 Estee and Joseph Lauder Scholarship to Divya G.
Rao at a special luncheon held for scholarship winners. Divya is attending the University of Pennsylvania where she is studying premedicine and
premedical studies. Estee Lauder Companies Inc. has underwritten Merit
Scholarship awards and Special Scholarships through the National Merit
Scholarship Program since 1983.
National Merit Scholarship Corporation
29
Sponsors and the scholarships they supported in the 2015 National Merit® Scholarship Program (continued)
Sponsor
ppg Industries Foundation
ppl
Merit Special
Sponsor
Merit Special
1531
td Ameritrade Services Company, Inc.
14
22
Tennessee Technological University
1
PricewaterhouseCoopers Charitable Foundation, Inc.
14
Teradata Corporation
4
Principal Life Insurance Company
2
Texas a&m University
107
Public Service Enterprise Group
3
Texas Christian University
3
Purdue University
68
Texas Instruments Incorporated
22
Putnam Investments, llc
2
Texas Tech University
5
Quanex Foundation
1
Textron Charitable Trust
55
Raytheon Company
22
J. Walter Thompson Company Fund, Inc.
2
Rensselaer Polytechnic Institute
16
3M Company
932
Research Triangle Institute
2
Tomkins Gates Foundation
15
Rexam Inc. Foundation
2
Towers Watson and Company5
Reynolds American Foundation
2
6
Transylvania University
4
Rheem Manufacturing Company
1
3
The Travelers Employees’ Club
1
4
Rhodes College
9
Tredegar Corporation
2
Trinity University (Texas)
Rochester Institute of Technology
12
5
Rockwell Automation Charitable Corporation
8
Truman State University
14
Rockwell Collins Charitable Corporation
14
Tufts University
47
Rolls-Royce North America Inc.
5
Tulane University
28
Rose-Hulman Institute of Technology
9
tw telecom, Inc.
1
Rutgers, The State University of New Jersey
28
Uhlig llc
2
Sage Software, Inc.
1
United Services Automobile Association
4
Saint Louis University
3
United States Fire Insurance Company3
St. Olaf College
16
University of Alabama at Tuscaloosa
120
Samford University
4
University of Alabama at Birmingham
18
Santa Clara University
3
University of Arizona
57
Schindler Elevator Corporation
5
University of Arkansas, Fayetteville
31
Schneider Electric North America Foundation
119
University of Central Florida
59
Scripps College
4
University of Chicago
207
Scripps Howard Foundation
5
University of Cincinnati
38
Scripps Networks Interactive, Inc. 2
University of Dallas
14
Sensient Technologies Foundation
1
1
University of Dayton
4
Sentry Insurance Foundation, Inc.
14
University of Evansville
4
Siemens Foundation
2862
University of Florida 113
Snap-on Incorporated
23
University of Georgia Foundation
28
Sogeti usa llc1
University of Houston-Main Campus
27
Solvay America
4
University of Idaho
20
Sony Electronics Inc.
1
2
University of Iowa
17
South Dakota State University
2
University of Kansas
20
Southern Company Services, Inc.
10
University of Kentucky
93
Southern Methodist University
15
University of Louisville
16
Southwest Airlines Co.
7
University of Maine
2
Southwestern University (Texas)3
University of Maryland
50
C. D. Spangler Foundation, Inc.
1
University of Miami
27
Spirit AeroSystems, Inc.
1
University of Minnesota
118
sri International2
University of Mississippi
34
State Farm Companies Foundation
1684
University of Missouri-Columbia
15
Stony Brook University
23
University of Missouri-Kansas City
3
Suburban Propane, l.p.
1
University of Montana-Missoula
2
Tate & Lyle Americas llc
11
University of Nebraska-Lincoln
41
30
2014–15 Annual Report
Sponsor
Merit Special
University of Nevada, Reno
15
University of Nevada, Las Vegas8
University of New Mexico13
University of North Dakota
1
University of North Texas
15
University of Oklahoma
240
University of Oregon
6
University of Pittsburgh
3
University of Puget Sound
3
University of Richmond
4
University of Rochester
31
University of St. Thomas (Minnesota)1
University of the South
4
University of South Carolina
33
University of South Florida
9
University of Southern California
181
University of Southern Mississippi
5
University of Tennessee 18
University of Texas at Dallas
78
University of Tulsa
28
University of Utah
25
University of Vermont
9
University of Wisconsin-Madison
4
University of Wisconsin-Eau Claire
3
University of Wyoming
4
The ups Foundation
20105
Ursinus College
2
usg Foundation, Inc.
26
Utility Workers Union of America, afl-cio
2
Valparaiso University
3
Vanderbilt University
138
Varian Medical Systems
2
Villanova University
6
Sponsor
Merit Special
Vulcan Materials Company Foundation
12
Walgreen Co.
21
Washington and Lee University
8
Washington State University
4
Waste Management
1
Wayne State University (Michigan)
6
Weatherford International, llc
2
West Virginia University Foundation, Inc.
7
Western Washington University
3
Westmont College
1
Wheaton College (Illinois)
25
Whitman College
6
Wichita State University
3
Willamette University
4
Wirtz Corporation
2
Wofford College
1
Worcester Polytechnic Institute
10
Wm. Wrigley Jr. Company
3
Xavier University (Ohio)2
The Xerox Foundation
19
Zoetis Inc.5
7,468 1,218
Merit ®
National
$2500 Scholarships
All corporate sponsors also provide grants in lieu of paying administrative fees
to help nmsc underwrite National Merit $2500 Scholarships.
President’s Fund
Unsolicited contributions to support Merit Scholarship® awards were received
from the following donors in the 2014–15 fiscal year. They are acknowledged
with sincere appreciation.
Dignity Health
Nicholas Foundation
Beth L. O’Donohoe
Jake P. and Deborah V. Traskell
Anonymous
David M. Daly, President and Chief Operating Officer of pseg Long
Island (left), and Derek M. Di Risio, President, pseg Services Corporation
(second from right), congratulate 2015 National Merit Public Service
Enterprise Group Scholarship winners Swathi Chakrapani and
Gregory M. Bertrand at an awards ceremony held at pseg’s head‑
quarters in Newark, New Jersey. Since 1958, pseg Services Corporation
has funded a total of 184 awards for children of employees through both
the National Merit Scholarship Program and the National Achievement
Scholarship Program.
National Merit Scholarship Corporation
31
Colleges and universities enrolling the 2015 entering class of Merit Scholar® awardees
Merit
Scholars
Merit
Scholars
Merit
Scholars
5* Abilene Christian University (5)
1 Allegheny College (Pennsylvania)
3*Alma College (2)
10* American University (9)
10 Amherst College
2 Appalachian State University
112* Arizona State University (94)
64* Auburn University (51)
1 Ave Maria University
2* Ball State University (2)
3 Barnard College
1 Bates College
75* Baylor University (53)
3 Benedictine College (Kansas)
4* Bethel University (3)
8* Boston College (4)
35* Boston University (29)
33* Bowdoin College (28)
2* Bradley University (2)
12* Brandeis University (9)
63* Brigham Young University (42)
76 Brown University
1 Bryan College (Tennessee)
5* Bucknell University (5)
3* Butler University (3)
45 California Institute
1 Conservatory of Music of
Puerto Rico
1 Cooper Union for the Advancement of Science & Art
1 Corban University
72 Cornell University (New York)
4* Creighton University (1)
64 Dartmouth College
8* Davidson College (3)
3* Denison University (2)
3* DePauw University (3)
7* Dickinson College (7)
5* Drake University (3)
7 Drexel University
108 Duke University
1 Earlham College
1 Eastern Michigan University
1 Eckerd College
1 Embry-Riddle Aeronautical
University (Florida)
58* Emory University (46)
1 Evergreen State College
1 Fairmont State University
22* Florida State University (22)
Fordham University
32*Bronx (29)
12* College at Lincoln Center (9)
1* Franklin and Marshall College (1)
10* Furman University (10)
1 Gannon University
3 George Fox University
1 George Mason University
17* George Washington University (14)
32 Georgetown University
59 Georgia Institute of Technology
3 Georgia Regents University
2 Gettysburg College
3* Gordon College (Massachusetts) (3)
3* Goshen College (3)
23* Grinnell College (18)
3* Gustavus Adolphus College (2)
1 Hamilton College
1 Hamline College
8* Harding University (6)
209 Harvard College
43* Harvey Mudd College (29)
5 Haverford College
11* Hendrix College (10)
10* Hillsdale College (8)
1 Hofstra University
4* Hope College (3)
1 Houston Baptist University
Illinois Institute of Technology
Illinois Wesleyan University (2)
Indiana University Bloomington (50)
Iowa State University (25)
Ithaca College (3)
Johns Hopkins University
Juniata College
Kalamazoo College (4)
Kansas State University (8)
Kennesaw State University
Kent State University
Kenyon College (21)
King’s College
Knox College (1)
Lafayette College
Lawrence University (Wisconsin) (12)
Lehigh University (7)
Lewis & Clark College (Oregon) (1)
Liberty University (21)
Louisiana State University at
Baton Rouge (16)
10* Louisiana Tech University (8)
1 Loyola Marymount University
9* Loyola University Chicago (8)
1 Loyola University Maryland
7* Luther College (5)
30* Macalester College (27)
6* Marquette University (5)
1 Marshall University
2 Maryville University of St. Louis
139 Massachusetts Institute
of Technology
2 Mercer University
2* Messiah College (2)
9* Miami University-Oxford (9)
43* Michigan State University (36)
4* Michigan Technological University (4)
4 Middlebury College
37* Mississippi State University (33)
1 Missouri State University
6* Missouri University of Science
and Technology (4)
7* Montana State UniversityBozeman (5)
1 Mount Holyoke College
2 Muhlenberg College
8* New College of Florida (7)
12 New York University
5 North Carolina State University
9* North Dakota State University (8)
85* Northeastern University
(Massachusetts) (67)
of Technology
14* Calvin College (12)
1 Cardinal Stritch University
52* Carleton College (45)
51 Carnegie Mellon University
60* Case Western Reserve
University (44)
2 Cedarville University
1* Centre College (1)
1 Chapman University
15* Claremont McKenna College (11)
1 Clarkson University
5 5* Clemson University (41)
1 Cleveland State University (Ohio)
1 Coe College
5* Colby College (Maine) (4)
4* College of Charleston (3)
2 College of New Jersey
5 College of William and Mary
4* College of Wooster (3)
8* Colorado College (7)
6 Colorado School of Mines
4* Colorado State University (3)
78 Columbia College of
Columbia University
4* Concordia College (Minnesota) (4)
3
2*
68*
33*
3*
47
1
4*
9*
1
1
25*
1
3*
2
12*
11*
1*
23*
27*
*An asterisk indicates that Merit Scholars whose scholarships are sponsored by the institution are included; the number sponsored by the college is shown in parentheses.
32
2014–15 Annual Report
Merit
Scholars
Merit
Scholars
Merit
Scholars
Northland College (Wisconsin)
Northwest Nazarene University
Northwestern University (146)
Oberlin College (25)
Occidental College (2)
Ohio State University-Columbus
Ohio University-Athens (1)
7*Oklahoma Christian University (5)
3* Oklahoma City University (3)
17* Oklahoma State University (16)
14* Franklin W. Olin College of
Engineering (7)
1 Olivet Nazarene University
4* Oregon State University (4)
4* Ouachita Baptist University (3)
1 Pacific Union College
21* Pennsylvania State University University Park (5)
1 Pensacola State College
4* Pepperdine University (4)
16* Pomona College (6)
146 Princeton University
94* Purdue University (68)
3 Reed College
19* Rensselaer Polytechnic
Institute (16)
10* Rhodes College (9)
59 Rice University
1 Ringling College of Art
and Design
14* Rochester Institute of
Technology (12)
1 Rollins College
13* Rose-Hulman Institute of Technology (9)
35* Rutgers, The State University
of New Jersey (28)
7* Saint Louis University (3)
1 Saint Mary’s University
of Minnesota
19* St. Olaf College (16)
1 Saint Vincent College and Seminary
4* Samford University (4)
6* Santa Clara University (3)
1 Savannah College of Art and Design
5* Scripps College (4)
2 Seattle Pacific University
1 Skyline College
2* South Dakota State University (2)
1 Southern Adventist University
20* Southern Methodist University (15)
3* Southwestern University (Texas) (3)
176 Stanford University
State University of New York at
2Binghamton
1Buffalo
25* Stony Brook (23)
13 Swarthmore College
2 Syracuse University
1 Taylor University
1 Temple University-Philadelphia
1* Tennessee Technological
University (1)
142*Texas a&m University (107)
7* Texas Christian University (3)
8* Texas Tech University (5)
8* Transylvania University (4)
5* Trinity University (Texas) (5)
16* Truman State University (14)
55* Tufts University (47)
33* Tulane University (28)
2 University of Akron
University of Alabama,
148*Tuscaloosa (120)
24*Birmingham (18)
2
Huntsville
65* University of Arizona (57)
University of Arkansas,
37*Fayetteville (31)
1 Little Rock
University of California,
129Berkeley
3Davis
2Irvine
43 Los Angeles
1Riverside
18 San Diego
4
Santa Barbara
1 University of Central Arkansas
69* University of Central Florida (59)
294* University of Chicago (207)
44* University of Cincinnati (38)
5 University of Colorado Boulder
2 University of Connecticut
15* University of Dallas (14)
4* University of Dayton (4)
3 University of Delaware
1 University of Denver
7* University of Evansville (4)
146* University of Florida (113)
42* University of Georgia (28)
29* University of Houston Main Campus (27)
23* University of Idaho (20)
University of Illinois at
26Urbana-Champaign
1 Chicago
20* University of Iowa (17)
26* University of Kansas (20)
111* University of Kentucky (93)
1 University of Louisiana
at Lafayette
19* University of Louisville (16)
2* University of Maine (2)
University of Maryland,
61* College Park (48)
2* Baltimore County (2)
1 University of Massachusetts
Amherst
35* University of Miami (27)
University of Michigan
56
Ann Arbor
1 Dearborn
University of Minnesota 147* Twin Cities (115)
1*Duluth (1)
2*Morris (2)
40* University of Mississippi (34)
University of Missouri 18*Columbia (15)
5* Kansas City (3)
2* University of Montana-Missoula (2)
University of Nebraska
47*Lincoln (41)
1
Omaha
University of Nevada,
16*Reno (15)
9* Las Vegas (8)
14* University of New Mexico (13)
20 University of North Carolina at
Chapel Hill
2* University of North Dakota (1)
1 University of North Florida
15* University of North Texas (15)
57 University of Notre Dame
288* University of Oklahoma (240)
6* University of Oregon (6)
1 University of the Pacific
139 University of Pennsylvania
16* University of Pittsburgh (3)
3 University of Puget Sound (3)
4* University of Richmond (4)
37* University of Rochester (31)
1* University of St. Thomas
(Minnesota) (1)
1 University of San Diego
1
1
206*
31*
2*
18
1*
*An asterisk indicates that Merit Scholars whose scholarships are sponsored by the institution are included; the number sponsored by the college is shown in parentheses.
National Merit Scholarship Corporation
33
Colleges and universities enrolling the 2015 entering class of Merit Scholar® awardees (continued)
Merit
Scholars
Merit
Scholars
Merit
Scholars
4* University of the South (4)
46* University of South CarolinaColumbia (33)
9* University of South Florida (9)
226* University of Southern California (181)
6* University of Southern Mississippi (5)
23* University of Tennessee, Knoxville (18)
University of Texas at
60Austin
101*Dallas (78)
2
San Antonio
35* University of Tulsa (28)
33* University of Utah (25)
10* University of Vermont (9)
36 University of Virginia
12 University of Washington
University of Wisconsin 15*Madison (4)
5* Eau Claire (3)
1Oshkosh
1 River Falls
2 Stevens Point
3* Western Washington
University (3)
1 Westminster College (Utah)
1* Westmont College (1)
28* Wheaton College (Illinois) (25)
9* Whitman College (6)
1 Whitworth University
4* Wichita State University (3)
5* Willamette University (4)
1 William Jewell College
21 Williams College
1 Winthrop University
1* Wofford College (1)
13* Worcester Polytechnic
Institute (10)
2* Xavier University (Ohio) (2)
166 Yale University
5*
2*
1
3*
206*
3
8*
4
University of Wyoming (4)
Ursinus College (2)
Utah State University
Valparaiso University (3)
Vanderbilt University (138)
Vassar College
Villanova University (6)
Virginia Polytechnic Institute and
State University
13* Washington and Lee
University (8)
5* Washington State
University (4)
32 Washington University in
St. Louis
7* Wayne State University
(Michigan) (6)
3 Wellesley College
1 Wesleyan College (Georgia)
1 West Texas a&m University
10* West Virginia University (7)
1 Western Kentucky University
Scholars
enrolled
Colleges
attended
4,230
3,238
7,468
191
138
329
private institutions
public institutions
*An asterisk indicates that Merit Scholars whose scholarships are sponsored by the institution are included; the number sponsored by the college is shown in parentheses.
Julia E. Krogh is a 2015 National Merit
$2500 Scholarship winner. Fascinated by
outer space from a young age, Julia read everything she could on the subject. In her last year
in high school she completed an internship at
the University of North Dakota, where she meas‑
ured expanding galactic clusters. Julia is now
in her first year at Brown University, where
she is pursuing a degree in astrophysics. As a
classically trained violinist, Julia hopes to continue her passion for music by joining a string
quartet in college.
I’d love to discover something that changes the way
the whole world thinks about the
universe that we live in.... I’m
interested in making the complexities of our universe more
accessible and understandable to
the public.
34
2014–15 Annual Report
Accomplishments and future plans of Scholars who graduated from college in 2015
84% reported a gpa of A- or above
upon graduation.
68% reported receiving academic
honors, awards, fellowships, or scholarships in addition to the awards they
received from nmsc.
Top postgraduate plans of recipients of National Merit Scholarships,
National Achievement Scholarships, and Special Scholarship awards
Graduate School (25%)
Business (13%)
Medical School (10%)
44% graduated summa cum laude
(with highest honors).
Computer Science (9%)
91% of the students surveyed
reported participation in extracurricular
activities, such as community service,
teaching, research, serving as an officer
of an organization, athletics, music,
theater, or student government.
Healthcare (4%)
Engineering (7%)
Teaching (3%)
Other (29%)
A 2011 National Merit University of Alabama Scholarship winner, Joseph K. Aicher
completed a double major in mathematics and
physics with a minor in biology. During the last
two years of his undergraduate program, he was
simultaneously enrolled in a master’s degree
program in mathematics. Joseph chose his field
of study to pursue a career as both a physician
treating patients and a cross-disciplinary scientist. At the University of Pennsylvania, Joseph
is pursuing his MD and PhD in genomics and
computational biology through the Medical Scientist Training Program at the Perelman School
of Medicine.
National Merit Scholarship Corporation
35
National Achievement® Scholarship Program
The National Achievement Scholarship Program, a privately financed academic competition, was established
in 1964, contemporaneously with the passage of the Civil
Rights Act, specifically to encourage Black American
youth to continue their education. The program’s defining purposes were to honor scholastically promising
Black American high school students and increase their
educational opportunities, and to provide National
Achievement Scholarships for college undergraduate
study to a substantial number of the most outstanding
participants in each annual competition.
Program transition
The National Achievement Scholarship Program is
transitioning into a program for college graduates (see
the President’s message on page 2 of this report). The
final group of high school students to be recognized in
the National Achievement Program entered college in
2015. While Black American high school students may
still participate in the National Merit® Scholarship Program, they no longer have the opportunity to enter the
National Achievement Scholarship Program and compete for recognition and Achievement Scholarship®
awards. As college graduates, they may be eligible to
receive awards in the newly created uncf Achievement
Capstone Program, which will be administered by uncf
and underwritten by nmsc with funds from the National
Achievement Scholarship Program.
Although the National Achievement Scholarship Program is moving in a new direction, nmsc is proud of
its legacy. Throughout the history of the program, from
1964 to 2015, more than 4.6 million Black Americans
entered the program, and approximately 228,000 outstanding students were honored. Of those recognized,
more than 34,000 of the most outstanding participants
were chosen to receive Achievement Scholarship awards
worth about $108 million.
Participation and recognition in 2015
Nearly 150,000 Black American students in more than
12,000 high schools requested consideration in the
2015 National Achievement Scholarship Program when
they took the 2013 Preliminary sat/National Merit
Scholarship Qualifying Test (psat/nmsqt ®) and entered the National Merit Scholarship Program. Black
students were able to compete for scholarships and be
honored in both programs, but could receive only one
monetary award through nmsc.
36
2014–15 Annual Report
2015
Program
Entrants
Outstanding
Participants
Referred
to Colleges
Semifinalists
Connecticut, Delaware, District of
Columbia, Maine, Maryland,
Massachusetts, New Hampshire,
New Jersey, New York, Pennsylvania,
Rhode Island, Vermont, and Virginia 54,919
1,105
452
Illinois, Indiana, Kentucky, Michigan,
North Carolina, Ohio, Tennessee,
West Virginia, and Wisconsin 25,966
376
397
Alabama, Arkansas, Florida, Georgia,
Louisiana, Mississippi, and South Carolina
27,298
441
484
Alaska, Arizona, California, Colorado,
Hawaii, Idaho, Iowa, Kansas, Minnesota,
Missouri, Montana, Nebraska, Nevada,
New Mexico, North Dakota, Oklahoma,
Oregon, South Dakota, Texas, Utah,
Washington, and Wyoming
38,959
1,072
353
1,834
107
38
Other Selection Units
TOTAL
148,976
3,1011,724
A total of 4,825 entrants earned psat/nmsqt scores
high enough to qualify for recognition in the National
Achievement Program. Their scores placed them in
the top 3% of program participants. These high performers were notified of their status in the fall of their
senior year.
Outstanding Participants
Of the high scorers, 3,101 young men and women
were named Outstanding Participants and brought to
the attention of four-year U.S. colleges and universities. These students received certificates in recognition
of the academic potential demonstrated by their high
performance on the qualifying test, but they did not
continue in the competition for National Achievement
Scholarship awards.
Semifinalists
There were 1,724 students named Semifinalists on a
regional representation basis. The number of Semifinalists named in each region was proportional to the
region’s population of Black Americans. Semifinalists
were the highest-scoring participants in the states that
make up each region and the only National Achievement
Scholarship Program participants who had an opportunity to continue in the competition for Achievement
Scholarship awards. nmsc sent Semifinalists’ names to
U.S. colleges and universities and distributed a press
release about them to news media.
Finalists
From the Semifinalist group, 1,354 students met all the
requirements to progress to the Finalist level of the
competition to be considered for an Achievement
Scholarship award. The requirements to become a
Finalist included submitting a detailed scholarship application, having a consistently high academic record in
all of grades 9–12, being endorsed and recommended
by a high school official, and submitting sat ® scores
that confirmed his or her earlier psat/nmsqt performance. By meeting these requirements, about 80% of
Semifinalists in the competition became Finalists and
earned a Certificate of Achievement.
sponsors specified their awards for Finalists who reside
in an area served by the sponsor, who have career plans
the grantor wishes to encourage, or who are children
of their employees. Sponsors of this year’s Achievement
Scholarship awards are listed on page 39.
Corporate sponsors chose to offer either a single payment of $2,500 to $5,000 when the Scholar entered
college or an annual stipend that could range from
$500 to $10,000 per year for up to four years of undergraduate study. A total of 79 corporate-sponsored
Achievement Scholarship awards worth $800,000 were
offered to Finalists.
Scholars
A total of 779 students were selected from the group of
Finalists to become Achievement Scholar® designees,
winning scholarships worth approximately $2.5 million
for college undergraduate study. Every Scholar received
a certificate in recognition of his or her award. nmsc
announced scholarship winners in a press release sent
to news media in Scholars’ communities.
National Achievement Program scholarships
National Achievement Scholarships vary in both monetary value and candidate criteria. Scholarships must be
used for undergraduate study at regionally accredited
colleges and universities in the United States.
National Achievement ® $2500 Scholarships
Every Finalist was considered for one of the 700 National
Achievement $2500 Scholarships offered through the
National Achievement Scholarship Program. These
scholarships were awarded on a regional representation basis. Award winners were selected by an independent committee of college admission officers and
high school counselors who evaluated information
submitted by Finalists and their schools as part of the
application process. Most of these one-time awards were
financed by nmsc with its own funds, but support was
also provided by grants from corporate sponsors.
Corporate-sponsored scholarships
Corporations, foundations, business organizations,
and professional associations underwrote additional
Achievement Scholarship awards. Most corporate
David O. Osula is a first-year medical student at the University of Alabama
School of Medicine. David majored in biochemistry at Samford University
and chose a career in medicine because of his passion for science and desire
to help those in need. He won a National Achievement $2500 Scholarship underwritten by The McGraw-Hill Companies, Inc. in 2011.
National Merit Scholarship Corporation
37
Achievement Scholars of 2015
The 779 Achievement Scholarship recipients have
shown outstanding scholastic and extracurricular accomplishments in high school and have demonstrated
high potential for academic success in college.
The following statistics of National Achievement Scholars’ grade averages, class ranks, average sat scores, and
honors-level courses taken are compared with those of
more than one million college-bound seniors of 2015
who took the sat. The information was provided by
students when registering to take the sat. (These data
are used with permission of the College Board, which
sponsors the sat.)
Academic performance
98.8% of Scholars had a high school grade average of
A- or above, compared to 48% of all college-bound
seniors graduating in 2015.
89.5% of Scholars who attended high schools that rank
students were in the top tenth of their class, compared
to 35% of all college-bound seniors.
In addition to demonstrating high achievement in the
classroom, Scholars also performed extremely well on
objective measures. On a scale ranging from 200 to 800,
the 2015 Achievement Scholars’ average sat critical
reading score was 701, the average mathematics score
was 693, and the average writing skills score was 692. The
total group of college-bound seniors, by comparison,
had average scores of 495, 511, and 484, respectively.
Tentative college majors
The fields of study below were selected by 3% or more
of National Achievement Scholars when applying for
their scholarships.
Engineering - 21%
Biology or biomedical science - 15%
Social sciences or psychology - 8%
Business or finance - 7%
Health and clinical science professions - 6%
Computer and information sciences - 5%
Physical sciences - 5%
History, humanities, or pre-law studies - 4%
English, journalism, or creative writing - 3%
Mathematics or statistics - 3%
Percent taking honors-level courses
National Achievement Scholars take greater advantage of their
high schools’ honors-level courses in core academic and elective
fields than their college-bound peers.
Scholars
College-bound seniors
100
80
60
40
20
0
38
English
Mathematics
2014–15 Annual Report
Natural/
physical
sciences
Social
sciences/
history
Foreign
languages
As a freshman at Harvard College, Brianna A. Oppong-Antwi plans to
concentrate in chemistry with a premedicine focus. She looks forward to a
career in medicine, and says, “My ultimate goal is to be able to innovate,
impact, and excel in such a way that what I create and do in my lifetime will
positively impact others for years to come.” Brianna is the winner of a 2015
National Achievement - The UPS Foundation Scholarship.
Sponsors
Corporations, foundations, business organizations,
and professional associations have financed National
Achievement Scholarships in every competition since
the program began in 1964. They have expended or
committed approximately $51 million for some 14,000
awards for outstanding Black American high school students to continue their education. nmsc would like to
thank sponsors of National Achievement Scholarships
and encourage them to join nmsc in supporting the
uncf Achievement Capstone Program.
Sponsors and the scholarships they supported in the
2015 National Achievement® Scholarship Program
Sponsor
# awards
Alliance Data Systems Corporation
Ameren Corporation Charitable Trust
The Boule Foundation
Chevron u.s.a. Inc.
Con Edison
Delta Sigma Theta Sorority, Inc.
Gaylord and Dorothy Donnelley Foundation
R. R. Donnelley Foundation ExxonMobil
Loews Foundation
Mead Witter Foundation, Inc.
Motorola Solutions Foundation
National Merit Scholarship Corporation
The NewMarket Foundation
Norfolk Southern Foundation
ppg Industries Foundation
Reynolds American Foundation
Rheem Manufacturing Company
Sony Electronics Inc.
The ups Foundation
usg Foundation, Inc.
Walgreen Co.
The Xerox Foundation
1
1
12
2
1
1
1
2
2
1
5
3
713
1
1
2
5
1
3
6
1
4
10
779
Onajia Stubblefield is majoring in business and music at the University of
Louisville. He hopes to study abroad at Oxford University as an undergraduate. Winning a National Achievement $2500 Scholarship in 2015
meant a great deal to him and his family and gave him confidence in taking
on studies at college.
Funding for National Achievement Scholarships, 1964–2015
$70 million for 19,387 awards
SPONSORS
nmsc
$38 million for 14,842 awards
TOTAL: $108 million for 34,229
Achievement Scholarship awards
Sponsors have been the largest source of funding in the National Achievement
Program. Figures include college and university support (1973–2003).
A 2015 National Achievement $2500 Scholarship winner, Cameron
Comrie is a freshman at Harvard College planning to study neurobiology
and history. As a premedical student, Cameron looks forward to conducting medical missionary work and studying abroad in the Spanish-speaking
world. She would also like to compete in taekwondo and write for the
campus newspaper or a literary magazine.
National Merit Scholarship Corporation
39
Colleges and universities enrolling the 2015 entering class of Achievement Scholar® awardees
Achievement
Scholars
1 Albion College
1 Alcorn State University
4 Amherst College
6 Arizona State University
5 Auburn University
1 Azusa Pacific University
2 Barnard College
2 Baylor University
1 Bethel University
2 Boston University
2 Bowdoin College
17 Brown University
1 Bucknell University
1 Butler University
1 California Institute of Technology
California State University,
1 Long Beach
1Monterey Bay
1 Carleton College
7 Carnegie Mellon University
1 Case Western Reserve University
1 Claremont McKenna College
1 Clemson University
4 College of William and Mary
27 Columbia College of
Columbia University
18 Cornell University (New York)
Achievement
Scholars
8 Dartmouth College
2 Davidson College
2 Drexel University
22 Duke University
2 Elon University
5 Emory University
3Florida a&m University
2 Florida State University
Fordham University
3Bronx
1 Lincoln Center
1 Fort Valley State University
2 George Mason University
4 Georgetown University
16 Georgia Institute of Technology
1 Georgia State University
1 Grinnell College
1 Guilford College
64 Harvard College
1 Harvey Mudd College
1 Haverford College
1 Hinds Community College
7 Howard University
1 Indiana State University
2 Indiana University Bloomington
10 Johns Hopkins University
1 Kennesaw State University
Achievement
Scholars
1 Kent State University
1 Lafayette College
3 Louisiana State University
at Baton Rouge
1 Louisiana Tech University
1 Macalester College
1 Maryville College (Tennessee)
33 Massachusetts Institute
of Technology
1 Michigan State University
1 Middle Tennessee State University
3 Mississippi State University
1 Morehouse College
4 New York University
1 North Carolina Agricultural and
Technical State University
3 North Carolina State University
3 Northeastern University
(Massachusetts)
8 Northwestern University
8 Ohio State University-Columbus
9 Pomona College
27 Princeton University
1 Purdue University
2 Queens College of the City
University of New York
2 Rhodes College
Nathaniel A. Brimmer-Beller is enrolled in
the international relations program in the School
of Social and Political Science at the University
of Edinburgh in Scotland. He is preparing for a
career in international relations and diplomacy.
As an active participant in theater, he says, “I
think diplomatic negotiation and collaboration is
one of the most versatile and important stages a
person can perform on, for these performances
literally change the world.” Nathaniel is a 2015
Honorary Achievement Scholar. An Honorary
Achievement Scholarship award signifies that the
Scholar’s educational plans or other awards preclude receipt of a monetary scholarship.
40
2014–15 Annual Report
Achievement
Scholars
4 Rice University
1 Ringling College of Art and Design
1 Rochester Institute of Technology
1 Rose-Hulman Institute of Technology
2 Rutgers, The State University of
New Jersey
1 Saint Joseph’s University
(Pennsylvania)
1 Samford University
1 Santa Clara University
1 Smith College
2 Southern Methodist University
1 Southwestern University (Texas)
2 Spelman College
53 Stanford University
1 Stetson University
5 Swarthmore College
3 Temple University-Philadelphia
3Texas a&m University
1 Texas Christian University
1 Truman State University
1 Tufts University
2 Tulane University
University of Alabama,
8Tuscaloosa
4Birmingham
2Huntsville
1 University of Arizona
University of Arkansas,
1Fayetteville
1 Little Rock
University of California,
1Berkeley
1Davis
5 Los Angeles
1 San Diego
2 University of Central Florida
17 University of Chicago
3 University of Cincinnati
1 University of Colorado Boulder
1 University of Connecticut
1 University of Detroit Mercy
12 University of Florida
4 University of Georgia
University of Illinois at
4Urbana-Champaign
1Chicago
3 University of Kentucky
3 University of Louisville
University of Maryland,
7 College Park
2 Baltimore County
1 University of Memphis
3 University of Miami
Achievement
Scholars
11 University of Michigan
1 University of MinnesotaDuluth
2 University of Mississippi
1 University of Missouri Kansas City
1 University of New Mexico
University of North Carolina at
7 Chapel Hill
2Charlotte
1Greensboro
5 University of Notre Dame
31 University of Pennsylvania
4 University of Pittsburgh
1 University of Richmond
1 University of Saint Joseph
1 University of San Diego
5 University of South CarolinaColumbia
1 University of South Florida
12 University of Southern California
2 University of Tennessee, Knoxville
University of Texas at
10Austin
1Dallas
1 University of Tulsa
6 University of Virginia
1 University of Washington
3 University of Wisconsin-Madison
21 Vanderbilt University
1 Vassar College
1 Virginia Military Institute
3 Virginia Polytechnic Institute and
State University
2 Wake Forest University
1 Washington and Lee University
22 Washington University in St. Louis
1 Wayne State University (Michigan)
1 Wellesley College
2 Wesleyan University (Connecticut)
1 Wheaton College (Illinois)
2 Williams College
1 Winthrop University
1 Wofford College
2 Xavier University of Louisiana
40 Yale University
Scholars
enrolled
Colleges
attended
562
217
779
085
76
161
private institutions
public institutions
National Merit Scholarship Corporation
41
Funding for scholarships in 2015
Sponsors provided funding for the vast majority of scholarships
offered in nmsc’s programs this year.
SPONSORS
$37.6 million for 6,345 awards
$8 million for 3,120 awards
Total: $45.6 million for 9,465 Merit Scholarship, Special
Scholarship, and Achievement Scholarship awards
42
2014–15 Annual Report
nmsc
FINANCIAL REPORT
June 1, 2014–May 31, 2015
To the Board of Directors
National Merit Scholarship Corporation
Evanston, Illinois
Report on the Financial Statements
We have audited the accompanying financial statements of National Merit Scholarship Corporation which comprise the statements of
financial position as of May 31, 2015 and 2014, and the related statements of activities and cash flows for the years then ended, and
the related notes to the financial statements.
Management’s Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting
principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of
internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement,
whether due to fraud or error.
Auditor’s Responsibility
Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits in accordance
with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit
to obtain reasonable assurance about whether the financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The
procedures selected depend on the auditor’s judgement, including the assessment of the risks of material misstatement of the financial
statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s
preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. Accordingly, we express no
such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant
accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
Opinion
In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of National Merit
Scholarship Corporation as of May 31, 2015 and 2014, and the changes in its net assets and its cash flows for the years then ended in
accordance with accounting principles generally accepted in the United States of America.
McGladrey LLP
Chicago, Illinois
July 30, 2015
43
STATEMENTS OF FINANCIAL POSITION May 31, 2015 and 2014
Assets
Cash
2015
$
Investments, at fair value
Money market funds
Common and preferred stocks (cost: 2015, $7,686,158; 2014, $13,157,864)
Mutual funds (cost: 2015, $109,667,379; 2014, $96,971,090)
Net assets
Unrestricted
National Merit Program
National Achievement Program
Temporarily restricted
National Merit Program
National Achievement Program
Permanently restricted
National Merit Program
National Achievement Program
See Notes to Financial Statements.
44
2014
$
160,623
9,136,120
11,163,147
134,991,010
10,491,867
20,072,939
133,296,556
155,290,277
163,861,362
7,285,844
200,525
27,962
6,797,005
174,866
49,550
7,514,331
$ 163,200,777
7,021,421
$ 171,043,406
$
$
Other assets
Software, equipment, furniture and leasehold improvements
Other receivables and prepaid expenses
Accrued interest and dividend income receivable
Liabilities and Net Assets
Liabilities
Sponsor grants received in advance
Accounts payable and accrued expenses
Payable to brokers and banks
396,169
1,978,914
1,048,836
22,437
1,947,023
947,126
122,036
3,050,187
3,016,185
151,417,341
4,255,203
152,494,724
11,076,717
155,672,544
163,571,441
1,094,280
322,750
1,076,735
318,029
1,417,030
1,394,764
2,421,016
640,000
2,421,016
640,000
3,061,016
160,150,590
$ 163,200,777
3,061,016
168,027,221
$ 171,043,406
STATEMENTS OF ACTIVITIES years ended May 31, 2015 and 2014
Unrestricted
Revenue:
Sponsor grants and donor contributions
Investment income, net
Test fee revenue
Operational contributions
Other
Net assets released from restriction
Expenses:
Sponsor scholarship expense
nmsc scholarship expense
Contribution expense
Operating expenses
Net realized and unrealized gain on investments
Change in unrestricted net assets
Temporarily restricted
Investment loss, net
Net realized and unrealized gain on investments
Net assets released from restriction
Change in temporarily restricted net assets
Increase (decrease) in net assets
Net assets
Beginning of year
End of year
Total
2014
Total
494,626
49,914
747,554
75
40,646
$ 38,781,502
1,680,226
3,239,240
4,983,696
3,615
185,075
$ 39,436,847
1,106,470
2,700,000
3,760,694
9,746
171,845
47,540,539
1,332,815
48,873,354
47,185,602
37,545,883
5,979,250
3,239,240
9,549,505
458,251
1,952,250
5,000,000
998,524
38,004,134
7,931,500
8,239,240
10,548,029
38,707,450
7,922,583
2,700,000
10,289,144
56,313,878
8,409,025
64,722,903
59,619,177
7,695,956
254,696
7,950,652
18,501,821
(1,077,383)
(6,821,514)
(7,898,897)
6,068,246
(6,598)
168,572
(144,429)
(1,848)
47,215
(40,646)
(8,446)
215,787
(185,075)
(7,546)
529,916
(171,845)
17,545
4,721
22,266
350,525
(1,059,838)
(6,816,793)
(7,876,631)
6,418,771
155,992,475
$ 154,932,637
12,034,746
$ 5,217,953
168,027,221
$160,150,590
161,608,450
$168,027,221
Merit
$ 38,286,876
1,630,312
3,239,240
4,236,142
3,540
144,429
2015
Achievement
$
See Notes to Financial Statements.
45
STATEMENTS OF CASH FLOWS years ended May 31, 2015 and 2014
Cash Flows from Operating Activities
Change in net assets
Unrealized (gain) loss on investments
Realized gain on investments
Loss on disposal of assets
Depreciation and amortization
Changes in:
Accrued interest and dividend income receivable
Other receivables and prepaid expenses
Sponsor grants received in advance
Accounts payable and accrued expenses
Payable to brokers and banks
Net cash used in operating activities
2015
$
Cash Flows from Investing Activities
Purchase of investments
Proceeds from sale of investments
Purchase of software, equipment, furniture and leasehold improvements
Net cash provided by investing activities
Increase (decrease) in cash
Cash:
Beginning of year
End of year
$
(7,876,631)
14,439,921
(22,606,360)
47,151
2,166,362
2014
$
6,418,771
(8,969,663)
(10,062,074)
50,465
1,963,514
21,588
(25,659)
31,891
101,710
(99,599)
3,233
(47,678)
199,904
(475,112)
60,289
(13,799,626)
(10,858,351)
(92,356,934)
109,094,458
(2,702,352)
(73,666,528)
85,374,971
(1,053,175)
14,035,172
10,655,268
235,546
(203,083)
160,623
396,169
$
363,706
160,623
See Notes to Financial Statements.
NOTES TO FINANCIAL STATEMENTS
Note 1. Nature of Activities and Significant Accounting Policies
National Merit Scholarship Corporation (nmsc) is an Illinois not-for-profit corporation. nmsc executes agreements with some 440 corporations, company foundations, other business organizations, and colleges and universities to provide grants in support of scholarships awarded
by nmsc to students for college undergraduate study. nmsc conducts two annual competitions: the National Merit Scholarship Program, which
is open to all U.S. high school students, and the National Achievement Scholarship Program, in which Black American students participate.
With the conclusion of the 2015 program, the National Achievement Scholarship Program will undergo a transition. Beginning in 2016, nmsc
is forging a new relationship with United Negro College Fund (UncF) to carry on the name and legacy of the National Achievement Scholarship Program. During the year ended May 31, 2015, nmsc contributed $5,000,000 to UncF to endow the Achievement Capstone Program
underwritten by the National Achievement Scholarship Program to honor and award financial assistance to high achieving, underrepresented
college graduates. This contribution is shown on the statements of activities as contribution expense.
The financial statements have been prepared in conformity with accounting principles applicable to nonprofit organizations, which require that
net assets and related revenue, expenses, gains and losses be classified as unrestricted, temporarily restricted, or permanently restricted based
on the existence or absence of donor-imposed restrictions. Unrestricted net assets are not subject to donor-imposed restrictions, and include
funds designated by the Board of Directors for specific purposes. Temporarily restricted net assets are subject to donor-imposed restrictions
which will be met either by nmsc’s actions or the passage of time. Temporarily restricted net assets are reclassified to unrestricted net assets
when the restrictions have been met or have expired. Temporarily restricted net assets of nmsc include earnings on the endowment fund
which have not yet been appropriated for expenditure. Permanently restricted net assets are subject to donor-imposed restrictions requiring
the principal to be maintained in perpetuity, and the income to be used only for nmsc’s scholarship programs.
46
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires
management to make estimates and assumptions affecting the amounts reported in the financial statements and accompanying notes. Actual
results could differ from those estimates.
The carrying amounts of financial instruments, including cash, accounts receivable, accounts payable and accrued expenses approximates fair
value due to the short maturity of these instruments.
Cash consists primarily of checking accounts held in a major national bank. The cash balances are insured by the Federal Deposit Insurance
Corporation (FDIc) up to $250,000 per bank. nmsc had cash balances on deposit at May 31, 2015 that exceeded the balance insured by the
FDIc. nmsc has not experienced any losses in such accounts and management believes that nmsc is not exposed to any significant credit risk
on cash.
Investments are reflected at fair value based on quoted market prices for those or similar investments. The net gains or losses on the sale of
investment securities are computed using the average cost method. Transactions in all securities are recorded on a trade-date basis. Interest
income is recorded on the accrual basis. Dividends are recorded on the ex-dividend date. Interest and dividends are included in investment
income (loss), net.
nmsc’s investments are exposed to various risks such as interest rate, market and credit risk. Due to the level of risk associated with certain
investments, it is at least reasonably possible that changes in values of investments will occur in the near term and that such changes could
materially affect the amounts reported in the statements of financial position.
Investment income (loss) is reflected net of related portfolio management fees of $273,898 and $271,117 for the years ended May 31, 2015
and 2014, respectively.
Software, equipment, furniture, and leasehold improvements are stated at cost. Expenditures for major additions and improvements are
capitalized and minor replacements and maintenance expenditures are charged to expense. Leasehold improvements are amortized over the
shorter of useful life or remaining lease term. For financial reporting purposes, annual depreciation is computed using the straight-line method
over the estimated useful lives of the assets. Equipment and software are depreciated over five years and furniture is depreciated over 10 years.
nmsc receives grants for scholarships from various sponsors, and the grants are recognized as revenue when the applicable scholarship pay-
ments are disbursed. Amounts received in advance of the disbursement of the applicable scholarship payment are recorded as a liability under
“sponsor grants received in advance.”
Donor contributions are recognized in the period received. Contributions received with donor-imposed restrictions are recorded as temporarily
or permanently restricted revenue dependent on the nature of the restriction.
Pursuant to an agreement with the College Board, nmsc is entitled to receive a percentage of the annual testing fees the College Board
collects from the Preliminary sAT/National Merit Scholarship Qualifying Test (psAT/nmsQT). For fiscal years 2015 and 2014, nmsc chose to
waive receipt of these fees, and has effectively donated them back to the College Board as an investment in the exam’s quality and validity, and ensuring the cost per exam is kept to a minimum. These fees are reflected on the statements of activities as equivalent amounts of
test fee revenue and contribution expense. In fiscal years 2015 and 2014, nmsc recorded operational contributions revenue of $4,983,696
and $3,760,694, respectively, from the College Board to support a significant software and systems renovation, as well as certain ongoing
operational services.
nmsc is exempt from income taxes under Section 501(c)(3) of the Internal Revenue Code and applicable state law. The accounting standard
on accounting for uncertainty in income taxes addresses the determination of whether tax benefits claimed or expected to be claimed on a tax
return should be recorded in the financial statements. Under this guidance, nmsc may recognize the tax benefit from an uncertain tax position
only if it is more-likely-than-not that the tax position will be sustained on examination by taxing authorities, based on the technical merits of
the position. The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has
a greater than 50 percent likelihood of being realized upon ultimate settlement. The guidance on accounting for uncertainty in income taxes
also addresses de-recognition, classification, interest and penalties on income taxes, and accounting in interim periods.
Management evaluated nmsc’s tax positions for all open tax years and has concluded that nmsc had taken no uncertain tax positions that
require adjustment to the financial statements. Generally, nmsc is no longer subject to income tax examinations by the U.S. federal, state or
local tax authorities for years before fiscal year 2012, which is the standard statute of limitations look-back period.
nmsc has evaluated subsequent events for potential recognition and/or disclosure through July 30, 2015, the date the financial statements
were available to be issued.
47
NOTES TO FINANCIAL STATEMENTS (continued)
Note 2. Endowment Net Assets
Endowment net assets are comprised of permanently restricted contributions, all of which are invested in perpetuity as required by the donors,
and accumulated unspent earnings on those contributions. The endowments are held in a mix of broad based stock and fixed income funds.
The income from these endowments is used to pay for scholarships sponsored by donors in the National Merit Program and the National
Achievement Program.
Interpretation of Relevant Law — nmsc’s management has interpreted the Illinois Uniform Prudent Management of Institutional Funds Act
(UpmIFA) as requiring the preservation of the fair value of the original gift as of the gift date of the donor-restricted endowment funds absent
explicit donor stipulations to the contrary. As a result of this interpretation, management has classified as permanently restricted net assets
(a) the original value of gifts donated to the permanent endowment, (b) the original value of subsequent gifts to the permanent endowment,
and (c) accumulations to the permanent endowment made in accordance with the direction of the applicable donor gift instrument at the time
the accumulation is added to the fund. The remaining portion of the donor-restricted endowment fund that is not classified in permanently
restricted net assets is classified as temporarily restricted net assets until those amounts are appropriated for expenditure by management in
a manner consistent with the standard of prudence prescribed by UpmIFA. Board-designated endowment funds represent the unspent endowment earnings accumulated prior to nmsc’s adoption of UpmIFA.
In accordance with UpmIFA, nmsc considers the following factors in making a determination to appropriate or accumulate earnings on donorrestricted endowment funds:
(1) The duration and preservation of the fund; (2) The purpose of the donor-restricted endowment fund; (3) General economic conditions;
(4) The possible effect of inflation and deflation; (5) The expected total return from income and the appreciation of investments; and (6) The
investment policy of nmsc’s endowment fund.
nmsc’s endowment net asset composition at May 31, 2015 and 2014 is as follows:
Unrestricted
Donor-restricted funds
Board-designated funds
$
2015
Permanently
Restricted
Total
$ 1,417,030
$ 1,417,030
Unrestricted
Temporarily
Restricted
2014
Permanently
Restricted
$
-
$ 1,394,764
$ 3,061,016
$ 4,455,780
370,287
-
-
370,287
370,287
$ 1,394,764
$ 3,061,016
$ 4,826,067
$
$ 3,061,016
$ 3,061,016
$ 4,478,046
370,287
$ 4,848,333
370,287
370,287
$
Donor-restricted funds
Board-designated funds
Temporarily
Restricted
Total
Endowment net assets are comprised of the following amounts related to the National Merit Program and National Achievement Program at
May 31, 2015 and 2014:
National Merit Program
National Achievement Program
48
2015
2014
$ 3,787,511
1,060,822
$ 4,848,333
$ 3,769,966
1,056,101
$ 4,826,067
Changes in endowment assets for the years ended May 31, 2015 and 2014 were as follows:
Unrestricted
Balance, beginning of year
Investment loss, net
Net realized and unrealized gain
on investments
Endowment net assets
appropriated for expenditure
Balance, end of year
$
$
$
$
2015
Permanently
Restricted
Total
370,287
-
$ 1,394,764
(8,446)
$ 3,061,016
-
$ 4,826,067
(8,446)
-
215,787
-
215,787
370,287
(185,075)
$ 1,417,030
$ 3,061,016
(185,075)
$ 4,848,333
Unrestricted
Balance, beginning of year
Investment loss, net
Net realized and unrealized gain
on investments
Endowment net assets
appropriated for expenditure
Balance, end of year
Temporarily
Restricted
Temporarily
Restricted
2014
Permanently
Restricted
Total
370,287
-
$ 1,044,239
(7,546)
$ 3,061,016
-
$ 4,475,542
(7,546)
-
529,916
-
529,916
370,287
(171,845)
$ 1,394,764
$ 3,061,016
(171,845)
$ 4,826,067
Return Objectives and Risk Parameters — nmsc has adopted endowment investment and spending policies that attempt to provide a predictable stream of funding to provide scholarships as indicated by the donor while ensuring that the original value of the endowment contributions
is preserved. While acknowledging that unfavorable capital market conditions may cause the market value of the endowment fund to fall
below the value of the corpus during short-term periods, nmsc intends to at least preserve the value of the corpus over the long-term horizon
while experiencing 4.4 percent real annual growth. Actual returns in any given year may vary from this amount.
Strategies Employed for Achieving Objectives — To satisfy its long-term rate-of-return objectives, nmsc determines the overall target
asset allocation for the endowment fund’s total investment portfolio. This determination is based upon a study of the actual rates of return
achieved by various asset classes, both separately and in various combinations, over periods in the past. Based on the analysis, nmsc has evaluated the probabilities of achieving acceptable rates of return and defined the target asset allocation deemed most appropriate for the needs
of the endowment fund. Currently the overall target asset allocation for the endowment fund is as follows:
Asset Class
Equity
Fixed income
Normal
Allocation
Allowable
Range
65%
62–68%
35%
30–40%
Spending Policy — nmsc has a policy of appropriating expenditures from the endowment fund each year.
49
NOTES TO FINANCIAL STATEMENTS (continued)
Note 3. Fundraising Costs
Total fundraising costs incurred by nmsc were $1,590,907 and $1,472,779 for the years ended May 31, 2015 and 2014, respectively. Such
costs are reflected in National Merit Program and National Achievement Program operating expenses in the statements of activities.
Note 4. Total NMSC Expenses
Total nmsc expenses incurred for the years ended May 31, 2015 and 2014 were allocated as follows:
Program Services
Merit
Achievement
Scholarship expense
Contribution expense
Compensation and employee benefits
Printing, general office, and depreciation
Professional services
Rent, maintenance, and amortization of
leasehold improvements
Advisory Council and Selection Committees
Directors’ meetings and employees’ travel
$ 43,525,133
3,239,240
1,703,659
1,551,607
2,809,193
304,410
67,656
19,159
$ 53,220,057
$
$
2,410,501
5,000,000
122,133
192,931
223,532
38,051
19,777
2,041
8,008,966
Program Services
Merit
Achievement
Scholarship expense
Contribution expense
Compensation and employee benefits
Printing, general office, and depreciation
Professional services
Rent, maintenance, and amortization of
leasehold improvements
Advisory Council and Selection Committees
Directors’ meetings and employees’ travel
$ 44,229,017
2,295,000
1,682,304
1,379,327
2,881,167
267,346
65,867
24,963
$ 52,824,991
$
$
2,401,016
405,000
112,331
171,379
253,210
33,418
18,766
2,689
3,397,809
2015
Management
and General
Fundraising
$
$
Total
310,766
466,029
707,174
$ 45,935,634
8,239,240
2,893,479
2,671,456
4,316,804
103,282
4,976
1,902,973
97,846
9,092
$ 1,590,907
543,589
87,433
35,268
$ 64,722,903
2014
Management
and General
Fundraising
$
$
$
$
756,921
460,889
576,905
691,458
401,497
733,084
90,707
6,852
1,923,598
Total
283,493
410,827
681,814
$ 46,630,033
2,700,000
2,769,586
2,363,030
4,549,275
85,933
10,712
$ 1,472,779
477,404
84,633
45,216
$ 59,619,177
Note 5. Investment Gains and Losses
Net realized and unrealized gains and losses for the years ended May 31, 2015 and 2014 consisted of the following:
Total
2014
Total
1,068,775
3,015,015
$28,800,620
43,240,541
$43,240,541
34,270,878
(12,493,681)
20,358,209
(1,946,240)
2,248,151
(14,439,921)
22,606,360
8,969,663
10,062,074
$ 7,864,528
$ 301,911
$ 8,166,439
$19,031,737
Merit
Net unrealized gain at end of year
Net unrealized gain at beginning of year
Net unrealized gain (loss) for the year
Net realized gain for the year
Net realized and unrealized gain on
investments for the year
$ 27,731,845
40,225,526
2015
Achievement
$
Note 6. Fair Value Disclosures
Investments are presented in the financial statements at fair value in accordance with accounting principles generally accepted in the United
States of America. Guidance provided by the Financial Accounting Standards Board defines fair value as the price that would be received to sell
an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date and sets out a fair value
hierarchy. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1) and the
50
lowest priority to unobservable inputs (Level 3). Inputs are broadly defined under this guidance as assumptions market participants would use
in pricing an asset or liability. The three levels of the fair value hierarchy under this guidance are described below:
Level 1: Unadjusted quoted prices in active markets for identical assets that nmsc has the ability to access at the measurement date.
Level 2: Inputs other than quoted prices within Level 1 that are observable for the asset, either directly or indirectly. Level 2 investments also
include alternative investments that do not have any significant redemption restrictions or other characteristics that would cause liquidation
and report date net asset value to be significantly different.
Level 3: Inputs are unobservable for the asset and include situations where there is little, if any, market activity for the asset. The inputs into
the determination of fair value are based upon the best information in the circumstances and may require significant management judgment
or estimation.
nmsc assesses the levels of the investments at each measurement date, and transfers between levels are recognized on the actual date of the
event or change in circumstances that caused the transfer. For the years ended May 31, 2015 and 2014, there were no such transfers.
For the years ended May 31, 2015 and 2014, the application of valuation techniques applied to similar assets and liabilities has been consistent.
The following table summarizes nmsc’s investments accounted for at fair value. The fair values of such investments as defined by the fair value
hierarchy at May 31, 2015 and 2014 consisted of the following:
Common and preferred stocks
Large-cap
Mid-cap
Mutual funds
U.S. Stock Funds
Global Stock Funds
Fixed Income Funds
Money market funds
Common and preferred stocks
Large-cap
Mid-cap
Mutual funds
U.S. Stock Funds
Global Stock Funds
Fixed Income Funds
Money market funds
2015 Total
$
9,208,896
1,954,251
Quoted Prices in
Active Markets for
Identical Assets
Level 1
$
9,208,896
1,954,251
16,288,515
68,811,771
49,890,724
9,136,120
$ 155,290,277
4,881,206
65,746,405
21,299,760
9,136,120
$ 112,226,638
Significant Other
Observable Inputs
Level 2
$
-
11,407,309 (a)
3,065,366 (b)
28,590,964 (c)
$ 43,063,639
2014 Total
Quoted Prices in
Active Markets for
Identical Assets
Level 1
$ 16,719,945
3,352,994
$ 16,719,945
3,352,994
$
33,003,248
47,939,044
52,354,264
10,491,867
$ 163,861,362
15,354,753
44,909,238
24,699,571
10,491,867
$ 115,528,368
17,648,495 (a)
3,029,806 (b)
27,654,693 (c)
$ 48,332,994
Significant Other
Observable Inputs
Level 2
-
(a) This category includes U.S. securities of large, mid, and small capitalization companies. The fair values of investments in this category
have been estimated using the net asset value per share of investments. These investments can be redeemed within one business day.
(b) This category includes U.S. and non-U.S. securities of large, mid, and small capitalization companies. The fair values of investments
in this category have been estimated using the net asset value per share of investments. These investments can be redeemed within
one business day.
(c) This category includes corporate bonds, municipal securities, asset backed securities, and U.S. government and government agency
obligations. The fair values of investments in this category have been estimated using the net asset value per share of investments.
These investments can be redeemed at least monthly.
51
NOTES TO FINANCIAL STATEMENTS (continued)
Note 7. Property and Equipment
Property and equipment for the years ended May 31, 2015 and 2014 consisted of the following:
Software
Equipment
Furniture and fixtures
Leasehold improvements
2015
2014
$ 12,813,266
144,362
102,078
390,349
$ 10,160,640
181,808
102,078
390,349
Accumulated depreciation and amortization
13,450,055
(6,164,211)
$ 7,285,844
10,834,875
(4,037,870)
$ 6,797,005
The provisions for depreciation and amortization amounted to $2,166,362 and $1,963,514 for the years ended May 31, 2015 and 2014, respectively.
Note 8. Commitments for Future Scholarship Payments
The obligation for future payments to scholarship recipients presently in college and those appointed and entering college in the fall of
2015 is estimated to be $101,300,000; this includes the National Merit Program, $97,700,000, and the National Achievement Program,
$3,600,000. The majority of the total obligation is to be funded by grantors for scholarships they are sponsoring; future payments are covered
by agreements between nmsc and such grantors. The portion of the total obligation for scholarships to be paid by nmsc with its own funds
is approximately $8,600,000; this includes the National Merit Program, $6,200,000, and the National Achievement Program, $2,400,000.
Note 9. Lease Commitments
nmsc has a noncancelable lease for office space expiring September 30, 2019. Rent expense for the years ended May 31, 2015 and
2014 was $497,932 and $433,422, respectively. Minimum rental commitments for each of the five succeeding fiscal years are as follows:
$441,502 for 2016; $450,019 for 2017; $404,780 for 2018; $401,359 for 2019; and $134,575 for 2020. Future rentals may be adjusted
for increases in certain taxes and operating expenses incurred by the lessor.
Note 10. Employee Benefit Plan
nmsc maintains a defined contribution 403(b) Retirement Plan for its eligible employees who have completed at least one year of service.
The total contributed by nmsc was $301,850 and $251,131 for the years ended May 31, 2015 and 2014, respectively. At the employee’s
election, each contribution is made as a premium on an annuity contract or a contribution to a mutual fund custodial account.
52
ADVISORY COUNCIL: 2014–15
SELECTION COMMITTEES: National Scholarships in 2015
DAVID ADNEY
Executive Director
Minnesota Association of Secondary
School Principals
St. Paul, Minnesota
Merit
Achievement
MYRON ARAKAWA
Director of College Counseling
Punahou School
Honolulu, Hawaii
ANTHONY M. BROOKS
Former Director of Undergraduate Admissions
North Carolina Central University
MURRAY W. BROCKMAN
President
South Carolina Governor’s School for
Science and Mathematics
Hartsville, South Carolina
DAVID J. CHEHEY
Counseling Department Chair
Boise High School
Boise, Idaho
LINDA A. BRODEUR
President
Bishop Guertin High School
Nashua, New Hampshire
TONI CORRY
Director of Guidance and Counseling
Barrington High School
Barrington, Rhode Island
JIMMY S. CASAS
Principal
Bettendorf High School
Bettendorf, Iowa
BETSY DOLAN
Director of College Counseling
Phillips Exeter Academy
Exeter, New Hampshire
PHILIP A. HOOPER
Director of College Guidance
Episcopal Collegiate School
Little Rock, Arkansas
KATHLEEN B. GRANT
Director of College Counseling
Catlin Gabel School
Portland, Oregon
PETER C. JENNINGS
Director of College Counseling
Concord Academy
Concord, Massachusetts
ZAKAREE M. HARRIS
Associate Dean of Admissions
Bowdoin College
GRETCHEN M. KESSLER
Principal
Regis Jesuit High School (Girls Division)
Aurora, Colorado
SUSAN MALONE
Principal
Hillcrest High School
Midvale, Utah
KATHLEEN E. MARTIN
Director of College Guidance
Wilmington Friends School
Wilmington, Delaware
GLENN B. MILEWSKI
Executive Director, sat & psat/nmsqt Assessments
The College Board
New York, New York
MARIA G. MORALES-KENT
Director of College Counseling
Thacher School
Ojai, California
JULIE A. KERICH
Director of Admission
Franklin & Marshall College
BILL P. PINK
Vice President, Academic Affairs
Oklahoma State University-Oklahoma City
CHARLENE RENCHER
Former Dean of College Counseling
Cranbrook Kingswood Upper School
Bloomfield Hills, Michigan
WAYNE SIGLER
Former Vice President for
Enrollment Management
George Mason University
KEITH SOUTHERGILL
Director of Admissions
Barrett, The Honors College
Arizona State University
JUDY STATHAM
Counseling Department Chair
Madison Central High School
Madison, Mississippi
JULIE STAYNER
Former College Counselor
Jackson Hole High School
Jackson, Wyoming
DOUGLAS K. ZELTINGER
Senior Admission Counselor
North Dakota State University
© 2015 National Merit Scholarship Corporation. All rights reserved. Printed in U.S.A.
JULIE K. ENDERSBE
Former School Counselor
Rosemount High School
Rosemount, Minnesota
TIMOTHY L. FIELDS
Associate Dean of Admission
Emory University
DANIEL S. FOLLMER
Director of Admissions
The University of Chicago
EVERETT L. JACKSON
Associate Director of Admissions
University of Nevada, Reno
LOLETHIA LOMAX-FRAZIER
Professional School Counselor
Eleanor Roosevelt High School
Greenbelt, Maryland
ALLENE P. NIEMIEC
Associate Director of College Guidance
Saint Andrew’s School
Boca Raton, Florida
TERRI JAMES SOLOMON
Associate Director of College Counseling
Milton Academy
Milton, Massachusetts
NMSC Mission Statement
The mission of National Merit Scholarship Corporation (NMSC) is to recognize
and honor the academically talented students of the United States. NMSC
accomplishes its mission by conducting nationwide academic scholarship
programs. The enduring goals of NMSC’s scholarship programs are:
• To promote a wider and deeper respect for learning in general and for
exceptionally talented individuals in particular
• To shine a spotlight on brilliant students and encourage the pursuit of
academic excellence at all levels of education
• To stimulate increased support from organizations that wish to sponsor
scholarships for outstanding scholastic talent
NMSC Lamp of Learning Logo
NMSC’s “Lamp of Learning” logo is modeled after an oil-burning lamp----a classic
symbol of knowledge and wisdom. Education fuels the flame that burns from the
lamp, which is shown resting on a base that represents the Book of Knowledge.
The logo is symbolic of the enduring goals of NMSC’s scholarship programs.
®
National Merit Scholarship Corporation
1560 Sherman Avenue, Suite 200
Evanston, IL 60201-4897
(847) 866-5100
www.nationalmerit.org