National Merit Scholarship Corporation
2015–16 Annual Report
BOARD OF DIRECTORS
RICHARD L. KEYSER, Chairman*
Chairman Emeritus
W.W. Grainger, Inc.
MICHAEL G. JOHNSON*
Former 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
Provost and Executive Vice President
Mississippi State University
FRANK J. DELLAQUILA*
Executive Vice President and Chief Financial Officer
Emerson Electric Co.
JENNIFER L. MOENCH
Former Executive Director
NiSource Charitable Foundation
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.
DAVID A. DOHNALEK
Senior Vice President and Treasurer
The Boeing Company
MARK C. DZIATCZAK
Assistant Superintendent for Secondary Instruction
Troy School District
Troy, Michigan
M. TIMOTHY GOTT
Principal
Palmetto Scholars Academy
North Charleston, South Carolina
COLLEEN M. HARSIN
Director
The Davidson Academy of Nevada
Reno, Nevada
JOHN C. HITT
President
University of Central Florida
MATTHEW P. HORVAT
Head of School
The Overlake School
Redmond, Washington
PETER C. JENNINGS
Director of College Counseling
Concord Academy
Concord, Massachusetts
*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
Merit Scholar® class of 2016. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3
2016 National Merit® Scholarship Program—at a glance. . . . . . . . . . . . . . . . . 4
Scholarships . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
Sponsors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
Colleges and universities enrolling
2016 Merit Scholar awardees. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14
Featured Merit Scholars of 2016 and 2012. . . . . . . . . . . . . . . . . . . . . . . . . . 17
Featured Achievement Scholars® of 2015 and 2012. . . . . . . . . . . . . . . . . . . 34
Financial Report: June 1, 2015–May 31, 2016 . . . . . . . . . . . . . . . . . . . . . . . . 39
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 the National Merit 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. sat is a registered trademark 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, 2016
President’s message
With the administration of its 2016 competition, National Merit Scholarship Corporation (NMSC) returns to its
roots firmly planted in 1955 when grants from the Ford Foundation and the Carnegie Corporation were used
to create the National Merit Scholarship Program. The major intentions of these grants were to discover our
country’s most capable youth and make it possible for them to receive a college education, and provide a means
whereby businesses and other organizations could contribute effectively to the support of higher education. A
further purpose was to provide a flexible scholarship program that would meet the interests and objectives of
donors. The National Merit Scholarship Program was a call to invest in the future of our nation, and NMSC has
not wavered from this mission.
From 1965 to 2015, NMSC also administered the National Achievement Scholarship Program for Black American
high school students. Some 800 Achievement Scholars graduated from college this year and about 2,400 from
the Scholar classes of 2013, 2014, and 2015 are currently enrolled in college. A change was made last year to
preserve the name and legacy of the National Achievement Scholarship Program by establishing the UNCF
Achievement Capstone Program through a partnership with UNCF, the nation’s largest and most effective minority
education organization. UNCF presented the first Achievement Capstone awards in 2016 to college graduates
from Historically Black Colleges and Universities and Predominantly Black Institutions throughout the United
States. NMSC furthers its mission of encouraging the pursuit of academic excellence at all levels of education by
sponsoring the UNCF Achievement Capstone Program through the National Achievement Scholarship Program.
As we hear from NMSC’s Scholars about their accomplishments, aspirations, and future goals, it is our pleasure
to share some of their stories in NMSC’s Annual Reports. Each year as students move through the National Merit
Scholarship Program, it is exciting to see the high potential of already accomplished young Scholars embarking on
their college studies, as well as the successful growth of Scholars who, having just finished college, are ready to start
their careers or pursue graduate studies. At the same time, NMSC continues to celebrate the ongoing successes of
the Scholars recognized through the National Achievement Scholarship Program, several of whom are featured in
this report. One such Scholar, Ronald Obi Nwumeh (see pages 34 and 35), graduated from Washington University
in St. Louis this year with a degree in molecular biology and biochemistry. Obi plans to attend medical school in
the fall, but is presently conducting research at University of Colorado in the lab of one of our past National Merit
Scholars, Nobel Prize winner Dr. Thomas R. Cech. The accomplishments of Scholars like Obi demonstrate why it is
such an honor for NMSC to support students who serve as models for others through their leadership, innovation,
compassion, and dedication to excellence.
NMSC will continue to reaffirm its mission by conducting the independently supported National Merit Scholarship
Program, which offers a well-honed system designed to assist organizations that wish to invest in our nation’s
intellectual capital. It is time to ignite greater interest in the best and brightest young minds of the United States,
who will become the leaders of tomorrow. This was emphasized many years ago by NMSC’s founding President,
John M. Stalnaker, when he said, “The talent of a nation’s people is its prime resource.” Providing exceptional
young people with an opportunity to develop their full potential contributes not only to their future, but to that of
our country as well. The National Merit Scholarship Program has stood the test of time, and its purposes are just as
vital today as they were 61 years ago.
A
Timothy E. McGuire
President
2
2015–16 Annual Report
Merit Scholar® class of 2016
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 61 competitions
completed to date, over 2.9 million outstanding students have been honored, and approximately 380,000
academic champions have received scholarships worth
over $1.5 billion for undergraduate study.
The 7,367 Merit Scholarship® recipients of 2016 come
from every state in the nation and from varied ethnic
and socioeconomic backgrounds. Regardless of the
opportunities available to them, Scholars have demonstrated outstanding academic ability throughout high
school. When applying for their scholarships, students
provided their intended college major. The fields
of study listed below were selected by 3% or more of
National Merit Scholars.
Engineering - 25% Biology or biomedical science - 13%
Computer and information sciences - 7%
Physical sciences - 6% Social sciences or psychology - 6% Business or finance - 5% Health and clinical science professions - 5% Mathematics or statistics - 5% History, humanities, or pre-law studies - 3%
The following statistics of National Merit Scholars’ average sat ® scores, honors-level courses taken, class ranks,
and grade averages are compared with those of more than one million college-bound seniors from the class of
2016 who took the sat. The information was provided by students when they registered to take the test. (These
data are used with permission of the College Board, which sponsors the sat.)
Average sat scores
Honors-level courses
On a scale ranging from 200 to 800, Scholars’ average SAT section scores were
higher than those of the total group of college-bound seniors.
A greater percentage of Scholars took advantage of honors-level course offerings in core academic and elective fields than their college-bound peers.
100
Scholars
College-bound seniors
Critical Reading
80
60
Mathematics
40
Writing
200
400
600
800
Scholars
College-bound seniors
20
0
English Mathematics Natural/
physical
sciences
Social
sciences/
history
Foreign
languages
Class rank
Grade average
Percent of Scholars who were in the top tenth of their high school class
compared to that of all college-bound seniors
Percent of Scholars who had a high school grade average of A- or above
compared to that of all college-bound seniors
94.9%
35%
98.9%
47%
Scholars
College-bound seniors
Scholars
College-bound seniors
National Merit Scholarship Corporation
3
Entrants took the psat/nmsqt
High Scorers identified
Commended Students and Semifinalists designated
OCTOBER 2014
APRIL 2015
SEPTEMBER 2015
2016 National Merit® Scholarship
Program—at a glance
ENTRANTS
1,497,368
Each annual Merit Scholarship® competition spans about 18 months. The
program begins when about 1.5 million high school students meet requirements to 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 more than 22,000 schools. The program concludes when winners of
scholarships are notified in the spring of their senior year.
HIGH SCORERS
55,992
Over 50,000 students earned psat/nmsqt scores that qualified them for
recognition in the 2016 program. At the beginning of their senior year,
these high scorers were notified that they had been designated as either
Commended Students or Semifinalists.
4
COMMENDED STUDENTS
39,765
SEMIFINALISTS
16,227
About two-thirds of the high scorers were named Commended Students on the basis of a nationally
applied qualifying score. 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. 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.
Approximately one-third of the high
scorers were designated Semifinalists on a state representational basis.
They were the top-scoring entrants
in each state and the only program
participants who had the opportunity
to continue in the competition for
Merit Scholarship awards. 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.
2015–16 Annual Report
2016
Program
Entrants
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 SemiStudents
finalists
12,062 182234
2,063 2643
22,299 568294
6,473 28143
185,756 7,2892,102
17,490 520253
32,141 724180
6,517 11043
4,004
248
44
69,0661,400807
34,6431,183455
5,885 11966
7,033 8192
38,0571,455758
33,786 516337
7,408 130167
8,180 256155
10,670 238225
11,201 231212
8,805 11876
42,1781,377307
51,3621,941345
24,728 500543
16,465 541304
5,707 121128
12,183 298349
4,084 1152
5,222 7497
8,008 125104
8,056
146
75
77,860
2,802
512
5,690
55
91
133,585
3,078
961
40,977
855
436
1,601
0
20
45,5331,151603
9,397 116187
15,557 360177
75,9531,580699
5,825
69
55
18,426
257
201
2,194
0
44
13,951 463335
215,209 4,0261,308
5,673 66156
3,871 7435
46,6981,708381
37,5171,048345
3,312
0
79
15,788 237323
1,033 024
20,186
1,264
265
1,497,368 39,76516,227
Finalists notified
Scholars selected
Scholars announced
FEBRUARY 2016
MARCH–JUNE 2016
APRIL–JULY 2016
FINALISTS
15,067
To compete for National Merit Scholarships, Semifinalists must advance to the Finalist level of the competition by
meeting several requirements.
The requirements 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. About 90% of the Semifinalists fulfilled these requirements.
They were notified in early February that they had become National Merit Program Finalists and were being
considered for Merit Scholarship awards. High school officials were sent Certificates of Merit to present to these
outstanding students.
SCHOLARS
8,526
Merit and Special Scholarship winners were chosen on the strength of their credentials and potential for future
success, without regard for gender, race, ethnic origin, or religious preference. Every Scholar received a certificate
in recognition of his or her award.
A total of 7,367 Merit Scholar® designees in 2016 were chosen from the Finalist group to receive Merit Scholarship
awards worth a total of $31.3 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 1,159 outstanding program participants, who were not Finalists but met criteria specified by corporate
and business sponsors, received Special Scholarships valued at $10.9 million. These Special Scholarships were pro‑
vided by corporations, company foundations, and business organizations to complement their Merit Scholarship awards.
Special Scholarship winner announcements were handled independently by the corporate sponsors.
Funding for scholarships in 2016
Sponsors provided funding for the vast majority of scholarships
offered in nmsc’s programs this year.
$36.2 million for 6,121 awards
SPONSORS
$6 million for 2,405 awards
Total: $42.2 million for 8,526 Merit Scholarship and Special
Scholarship awards
nmsc
National Merit Scholarship Corporation
5
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 2016 program,
most of the 2,500 National Merit $2500 Scholarships
were financed by nmsc with its own funds. Busi‑
ness organizations that provide corporate-sponsored
In high school, Adam Barsouk worked to leave a positive impact on his
community. He co-founded a youth activism group, conducted skin cancer
research, and promoted extracurricular opportunities for underprivileged students. A first-generation American and recipient of a 2016 National Merit
$2500 Scholarship, Adam says, “I feel indebted...and hope to work
towards becoming a clinician, scientist, and bigger person in college and
medical school so that I may give back to our country and all the support
structures in it that have allowed me to achieve and make the most of myself.” Adam is currently enrolled in the Accelerated Premedical-Medical Program through Pennsylvania State University and Jefferson Medical College.
6
2015–16 Annual Report
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.
2016 Macy’s Inc. Scholarship awardee Olivia M. Henderson aspires to
make a difference in the lives of young athletes. Olivia was the captain of her
high school basketball team, and after a season-ending injury she learned
to lead from the sidelines. Olivia was challenged to “turn a devastating situation into a positive one” and was selected as a 2014 Hero of Character by
the Character Council of Cincinnati for demonstrating positivity and resolve
while overcoming obstacles both on and off the basketball court. She intends to use her personal experience as inspiration while pursuing a career
in sports medicine. Olivia currently attends Miami University-Oxford and is
majoring in kinesiology with a focus in premedicine.
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
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 227 corporations, company foundations,
and other business organizations listed on pages 9–13
committed over $18 million to finance 1,032 National
Merit Scholarships and 1,159 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 these
awards. A sponsor college may decide to offer a
Merit Scholarship award to every eligible Finalist who
is admitted to the institution or choose to limit the
number of awards it provides. 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 2016 National Merit Program, 3,835
college-sponsored awards worth $17.8 million were
funded by 175 U.S. colleges and universities, which are
listed on pages 9–13.
Hadley E. Ankrum is the recipient of a 2016 National Merit
Fordham University Scholarship. She plans to pursue majors in
environmental studies and Spanish
language and literature and is excited about the numerous mission
trip and study abroad opportunities available to her at Fordham.
Hadley’s goals for the future are to
ensure access to basic nutrition for
everyone in the U.S. and to promote
healthy living on a global level.
National Merit Scholarship Corporation
7
Sponsors
The National Merit® Scholarship Program strives
to provide scholarships for as many students as
possible. With the support of 402 independent sponsor organizations, approximately half of the Finalists
and a substantial number of other deserving program
participants in the 2016 competition received scholarships for their undergraduate education. Corporations,
foundations, and other business organizations have
provided scholarships in all 61 Merit Scholarship®
competitions completed to date. Colleges and universities began underwriting awards in 1963. In 2016,
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 227 corporate organizations that sponsored awards
in the 2016 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
their objectives by specifying candidate qualifications
Texas Instruments Incorporated
Executive Vice President of Business
Operations Brian Crutcher shows
electrical engineer Jack Kilby’s Nobel Prize in Physics to winners of
the 2016 National Merit Jerry R.
Junkins Memorial Scholarship
at a reception. Shown from left to
right: Paige M. Rigsby, Milan Ho,
Si Qi Tong, and Brian Crutcher. Since
1996, Texas Instruments Incorpo‑
rated has sponsored National Merit
awards for children of its employees.
8
2015–16 Annual Report
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 levels 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 175 higher education institutions that provided
Merit Scholarship awards in 2016 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 2016 National Merit® Scholarship Program
Sponsor
Merit Special
AbbVie Inc.
10
Abilene Christian University
2
Acushnet Company
3
adp Foundation
1228
Advocate Medical Group2
Aerojet Rocketdyne Foundation
19
Air Products Foundation
5
Akzo Nobel Inc.
15
Albany International
2
The Allergan Foundation
82
Alliance Data Systems Corporation
6
Ameren Corporation Charitable Trust
24
American City Business Journals, Inc.
1
1
American Electric Power Company, Inc.
5
American Financial Group
2
American University
4
AmerisourceBergen Corporation
44
The ametek Foundation
25
Anadarko Petroleum Corporation
13
Aon Foundation
75
Archer Daniels Midland Company
46
Arizona State University
89
Arkema Inc. Foundation
4
Armstrong Foundation
18
asc Partners, llc
2
asm Materials Education Foundation
1
Astellas us llc
2
AstraZeneca Pharmaceuticals lp
5
9
Auburn University
52
Ball State University
3
basf Corporation
6
Battelle
16
Bayer usa Foundation
322
Baylor University
70
Belmont University
4
Bentley Systems, Incorporated
3
Bethel University
1
Trust Under The Will of Mary E. Beyerle
10
Black & Veatch Corporation
2
bnsf Railway Foundation
3
The Boeing Company
49
BorgWarner Inc.
4
Boston College
7
Boston University
44
Bowdoin College
12
bp Corporation North America, Inc.
831
Bradley University2
Branch Banking & Trust Company
416
Brandeis University
10
Bridgestone Americas Trust Fund
228
Sponsor
Merit Special
Brigham Young University
41
Bristol-Myers Squibb Foundation, Inc.
2624
Broadridge Financial Solutions, Inc.
22
Brocade Communications Systems, Inc.
3
Brooks Brothers Group, Inc.
2
Bucknell University
1
Bunge North America, Inc.
12
Bunzl usa, Inc.
5
Butler University
3
caci International Inc
5
Calvin College
13
Cardinal Health Foundation
6
Carleton College
39
Carlisle Companies Incorporated
2
Carpenter Technology Corporation4
Case Western Reserve University
53
cbs Corporation
1
cc Services, Inc.
5
cdk Global, llc 24
Centre College
3
Chemtura Corporation2
Chevron u.s.a. Inc.
9
Chico’s fas, Inc.
3
Citizen Watch Company of America, Inc.
25
Claremont McKenna College
4
Clemson University
36
Colby College (Maine)
4
Colgate-Palmolive Company
14
College of Charleston
7
College of Wooster
4
Colorado College
7
Colorado State University
8
Commvault Systems, Inc.
2
Computer Aid, Inc.
11
Computer Sciences Corporation
8
ConAgra Foods Foundation
4
Concordia College (Minnesota)
1
Corning Incorporated
41
Corporate sponsor grants
96
Covidien
102
Creighton University
3
csx Corporation7
Cytec Industries Inc.
3
Davidson College
3
The Delphi Foundation4
Denison University
2
Dentsply Sirona Inc.
11
Dickinson College2
Gaylord and Dorothy Donnelley Foundation
1
R. R. Donnelley Foundation
421
National Merit Scholarship Corporation
9
Sponsors and the scholarships they supported in the 2016 National Merit® Scholarship Program (continued)
Sponsor
Merit Special
The Dow Chemical Company Foundation
10
Dow Jones & Company, Inc.
46
Drake University
5
Eastman Chemical Company Foundation, Inc.
6
Eaton Charitable Fund
69
Electrolux North America
2
Emerson Charitable Trust10
Emory University
45
Essentra Holdings Corporation
1
1
Estee Lauder Companies Inc.
2
1
Ethicon, Inc.
2
Eversource Energy Foundation, Inc.
5
FedEx Custom Critical, Inc.
1
FedEx Freight Corporation 20
FedEx Ground Package System, Inc.
6
Ferro Corporation1
Fifth Third Foundation
619
Florida State University
21
Fluor Foundation
6
fmc Corporation
1
fmc Technologies, Inc.
11
Fordham University
37
forum Pharmaceuticals Inc.
1
Franklin and Marshall College
2
fts International, llc
1
Furman University
8
gaf
2
Gannett Foundation, Inc.
210
geico Philanthropic Foundation
3
Genentech, Inc.
191
General Dynamics
18
General Dynamics Ordnance and Tactical Systems
1
General Mills Foundation 2
George Washington University
15
Georgia-Pacific Foundation, Inc.
2 48
gkn Foundation
23
Gleason Family Foundation
3
Global Tungsten & Powders Corp.1
Goshen College3
W.W. Grainger, Inc.
10
Greyhound Lines, Inc.
3
Grinnell College
15
Sponsor
Merit Special
Gustavus Adolphus College
4
Harding University
11
Harris Corporation
2
Harsco Corporation Fund
5
Harvey Mudd College
31
H. J. Heinz Company Foundation
1
1
Hendrix College
8
Henkel Corporation
24
Hillsdale College
7
Hope College
1
Hormel Foods Corporation Charitable Trust
1 15
Houghton Mifflin Harcourt
11
The Harvey Hubbell Foundation
3
Illinois Tool Works Foundation
517
Illinois Wesleyan University 1
Indiana University Bloomington
38
Ingalls Shipbuilding Division of Huntington 1
3
Ingalls Industries
Ingersoll-Rand Charitable Foundation
79
Insperity Services, l.p.
22
International Union of Bricklayers
3
and Allied Craftworkers
Iowa State University
22
Jacobs Engineering Foundation
7
Janssen Pharmaceuticals, Inc.5
Janssen Research & Development, llc3
Janssen Supply Chain
12
John Bean Technologies Corporation
2
Johnson & Johnson World Headquarters
2
Kalamazoo College
2
Kaman Corporation
3
Kansas State University
5
The Kennametal Foundation
14
Kenyon College
9
Knovel
2
Knox College
2
lanxess Corporation
2
Lawrence University (Wisconsin)
5
Lehigh University
6
Leidos, Inc.
6
Lewis & Clark College (Oregon)
3
Liberty Mutual Scholarship Foundation
822
“I believe that education is the greatest gift that you can give, and as someone who feels that my
education has been the most valuable part of my career preparation, I can think of no better way to
support students than to contribute to their college education.”
Maria V. Filsinger Interrante, 2012 Scholar
10
2015–16 Annual Report
“The National Merit Scholarship award provided me with not only needed financial assistance to
realize my very long and expensive education, but also the knowledge that there are individuals and
corporations in our country willing to support the next generation of Scholars and workers like me.”
Adam Barsouk, 2016 Scholar
Sponsor
Merit Special
Liberty University
21
Lockheed Martin Corporation
4060
Loews Foundation
3
Lord & Taylor Foundation
2
Louisiana State University
24
Louisiana Tech University
6
Loyola University Chicago
4
lpl Financial
4
6
The Lubrizol Foundation
3
Luther College
1
Macalester College
18
Macy’s, Inc.
936
Mannington Mills, Inc.
1
Maritz Holdings Inc.
1
Marquette University
4
Marsh & McLennan Companies, Inc.
713
McKesson Foundation Inc.
119
Mead Johnson & Company, llc
2
Mead Witter Foundation, Inc.
10
Messiah College
1
MetLife Foundation
18
Miami University-Oxford
14
Michigan State University
30
Michigan Technological University
6
Mississippi State University
29
Missouri University of Science and Technology
12
The mitre Corporation
2
Molex llc
2
Montana State University-Bozeman
12
The Moody’s Foundation
2
MorphoTrust usa, llc2
Motorola Solutions Foundation
7
National Distillers Distributors Foundation
10
National Merit Scholarship Corporation
2,405
Nationwide Foundation
91
New College of Florida
5
New Jersey Manufacturers Insurance Company
3
New York Life Foundation
6
The NewMarket Foundation
1
1
NextEra Energy Foundation, Inc.
64
NiSource Charitable Foundation
19
Norfolk Southern Foundation
10
North Dakota State University
7
Sponsor
Merit Special
Northeastern University (Massachusetts)
62
Northrop Grumman Corporation
2525
Northwestern University
125
Novartis us Foundation
20
Novo Nordisk Inc.
2
Oberlin College
20
Occidental College
3
Occidental Petroleum Corporation
2
Ohio University-Athens
4
Oklahoma Christian University
7
Oklahoma City University3
Oklahoma State University
12
Old National Bancorp
3
Franklin W. Olin College of Engineering
9
Olin Corporation Charitable Trust
1
omnova Solutions Foundation, Inc.
2
Omron Foundation, Inc.
5
Oregon State University
5
Ouachita Baptist University
4
Owens Corning Foundation
1
Parker Hannifin Foundation
5
Sagar G. Patel Memorial Fund
2
Payless ShoeSource, Inc.
5
Frank E. Payne and Seba B. Payne Foundation
3
The Penn Mutual Life Insurance Company
2
Pennsylvania State University
5
Pepperdine University
1
The PepsiCo Foundation, Inc.
13
Pfizer Inc
2426
Pilkington North America, Inc.
11
Pomona College
6
ppg Foundation
1627
ppl
11
PricewaterhouseCoopers Charitable Foundation, Inc.
14
Principal Life Insurance Company
5
Public Service Enterprise Group
2
Purdue University
98
Putnam Investments, llc
1
Quanex Foundation
Raytheon Company
28
Rensselaer Polytechnic Institute
23
Research Triangle Institute
2
Rexam Inc. Foundation
National Merit Scholarship Corporation
1
1
1
11
Sponsors and the scholarships they supported in the 2016 National Merit® Scholarship Program (continued)
Sponsor
Merit Special
Sponsor
Merit Special
Reynolds American Foundation
1
9
Tennessee Technological University
3
Rheem Manufacturing Company
2
Teradata Corporation
4
Rhodes College
7
Texas a&m University
92
Rochester Institute of Technology
11
Texas Christian University
4
Rockwell Automation Charitable Corporation
4
Texas Instruments Incorporated
22
Rockwell Collins Charitable Corporation
7
Texas Tech University
14
Rolls-Royce North America Inc.
5
Textron Charitable Trust
46
Rose-Hulman Institute of Technology
11
J. Walter Thompson Company Fund, Inc.
1
2
Rutgers, The State University of New Jersey
22
3M Company
1822
S&P Global
42
Tomkins Gates Foundation
8
Saint Louis University
3
The Travelers Employees’ Club
5
St. Olaf College
7
Tredegar Corporation
1
1
Samford University
3
Trinity University (Texas)
8
Santa Clara University
5
Truman State University
5
Schindler Elevator Corporation
1
4
Tufts University
42
Schneider Electric North America Foundation
48
Tulane University
33
Scripps College
4
Uhlig llc
2
Scripps Howard Foundation
3
United Services Automobile Association
2
Scripps Networks Interactive, Inc. 1
1
United States Fire Insurance Company5
Sensient Technologies Foundation
1
2
University of Alabama at Tuscaloosa
135
Sentry Insurance Foundation, Inc.
23
University of Alabama at Birmingham
21
Siemens Foundation
4041
University of Arizona
37
Snap-on Incorporated
32
University of Arkansas, Fayetteville
38
Sogeti usa llc7
University of Central Florida
68
Solvay America
4
University of Chicago
185
Sony Electronics Inc.
2
1
University of Cincinnati
36
South Dakota School of Mines and Technology
3
University of Dallas
5
South Dakota State University
3
University of Evansville
3
Southern Company Services, Inc.
2
University of Florida 119
Southern Methodist University
14
University of Georgia Foundation
31
Southwest Airlines Co.
7
University of Houston-Main Campus
18
Southwestern University (Texas)4
University of Idaho
15
C. D. Spangler Foundation, Inc.
2
University of Iowa
18
Spirit AeroSystems, Inc.
1
University of Kansas
17
sri International2
University of Kentucky
88
State Farm Companies Foundation
1387
University of Louisville
15
Stony Brook University
19
University of Maine
6
Suburban Propane, l.p.
3
University of Maryland
45
Tate & Lyle Americas llc
2
University of Miami
27
td Ameritrade Services Company, Inc.
32
University of Minnesota
115
“I am extremely grateful for everything that has been done for the National Merit Program over
its decades of existence. I want to thank you and everybody else who has made this possible. The
recognition of top Scholars is a terrific thing, and nmsc absolutely shows the best that our country
has to offer. The name recognition of ‘National Merit Scholar’ is a testament not only to the values
of our society but also to the dedication and principles of nmsc.”
Colton S. Sleister, 2016 Scholar
12
2015–16 Annual Report
Sponsor
Merit Special
University of Mississippi
30
University of Missouri-Columbia
8
University of Missouri-Kansas City
1
University of Montana-Missoula
1
University of Nebraska-Lincoln
31
University of Nevada, Reno
9
University of Nevada, Las Vegas2
University of New Mexico17
University of North Texas
9
University of Oklahoma
236
University of Oregon
8
University of Pittsburgh
3
University of Puget Sound
3
University of Richmond
7
University of Rochester
19
University of St. Thomas (Minnesota)4
University of South Carolina
32
University of South Florida
7
University of Southern California
189
University of Southern Mississippi
3
University of Tennessee 11
University of Texas at Dallas
94
University of Tulsa
27
University of Utah
28
University of Vermont
9
University of Wisconsin-Madison
5
University of Wyoming
1
The ups Foundation
18107
usg Foundation, Inc.
17
Utility Workers Union of America, afl-cio
2
Valparaiso University
5
Vanderbilt University
166
Varian Medical Systems
3
Villanova University
7
Sponsor
Merit Special
Virginia Commonwealth University
9
Vulcan Materials Company Foundation
12
Walgreen Co.
20
Washington and Lee University
12
Washington State University
1
Wayne State University (Michigan)
10
Weatherford International, llc
1
West Virginia University Foundation, Inc.
15
Western Washington University
3
Westlake Chemical Corporation 2
Westmont College
1
Wheaton College (Illinois)
14
Whitman College
4
Wichita State University
3
Willamette University
1
Wirtz Corporation
1
Wofford College
2
Worcester Polytechnic Institute
8
Wm. Wrigley Jr. Company
23
The Xerox Foundation
9
Zoetis Inc.5
7,367 1,159
National Merit ® $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 2015–16 fiscal year. They are acknowledged
with sincere appreciation.
Nicholas Foundation
Beth L. O’Donohoe
Jake P. and Deborah V. Traskell
Anonymous
Ethan P. Houser studies biomedical engineering at North Carolina State
University with the intention of combining his interest in engineering with
his love for helping people. Through middle and high school, Ethan participated in many volunteer activities, including eight mission trips, two of which
took place in Belize. He is the recipient of a 2016 Special Scholarship award
provided by ppg Foundation. A sponsor since 1956, ppg Foundation has
funded a total of 2,919 awards through nmsc’s programs.
National Merit Scholarship Corporation
13
Colleges and universities enrolling the 2016 entering class of Merit Scholar® awardees
Merit
Scholars
Merit
Scholars
Merit
Scholars
2* Abilene Christian University (2)
4*American University (4)
8 Amherst College
1 Appalachian State University
109* Arizona State University (89)
1 Arkansas State University
60* Auburn University (52)
1 Augsburg College
1 Augustana College (South Dakota)
1 Azusa Pacific University
4* Ball State University (3)
80* Baylor University (70)
4* Belmont University (4)
4 Benedictine College (Kansas)
3* Bethel University (1)
1 Birmingham-Southern College
11* Boston College (7)
56* Boston University (44)
16* Bowdoin College (12)
1 Bowling Green State University
2* Bradley University (2)
11* Brandeis University (10)
71* Brigham Young University (41)
2 Brooklyn College of the City
4* College of Wooster (4)
7* Colorado College (7)
1 Colorado School of Mines
9* Colorado State University (8)
67 Columbia College of
Columbia University
1* Concordia College (Minnesota) (1)
1 Cooper Union for the Advancement of Science & Art
81 Cornell University (New York)
1 Covenant College
4* Creighton University (3)
49 Dartmouth College
8* Davidson College (3)
2* Denison University (2)
1 DePauw University
2* Dickinson College (2)
5* Drake University (5)
4 Drexel University
106 Duke University
1 Eastern Mennonite University
54* Emory University (45)
22* Florida State University (21)
43* Fordham University (37)
2* Franklin and Marshall College (2)
10* Furman University (8)
1 George Mason University
17* George Washington University (15)
33 Georgetown University
2 Georgia Health Sciences University
55 Georgia Institute of Technology
2 Gettysburg College
1 Gonzaga University
1 Gordon College (Massachusetts)
3* Goshen College (3)
1 Grand Valley State University
19* Grinnell College (15)
5* Gustavus Adolphus College (4)
2 Hamilton College
13* Harding University (11)
233 Harvard University
41* Harvey Mudd College (31)
8 Haverford College
9* Hendrix College (8)
9* Hillsdale College (7)
2* Hope College (1)
1 Hunter College of the City University
of New York
3* Illinois Wesleyan University (1)
52* Indiana University Bloomington (38)
1 Indiana University-Purdue University
Indianapolis
35*
1
47
2
2*
6*
10*
1
1
2*
University of New York
100 Brown University
1 Bryn Mawr College
3* Bucknell University (1)
3* Butler University (3)
44 California Institute
of Technology
4 California Polytechnic
State University, San Luis Obispo
13* Calvin College (13)
50* Carleton College (39)
55 Carnegie Mellon University
72* Case Western Reserve
University (53)
2 Cedarville University
1 Centenary College of Louisiana
5* Centre College (3)
1 Chapman University
1 Christendom College
5* Claremont McKenna College (4)
43* Clemson University (36)
1 Coastal Carolina University 6* Colby College (Maine) (4)
1 Colgate University
7* College of Charleston (7)
1 College of Idaho
3 College of New Jersey
5 College of William and Mary
Iowa State University (22)
James Madison University
Johns Hopkins University
Julliard School
Kalamazoo College (2)
Kansas State University (5)
Kenyon College (9)
Kettering University
King’s College (New York)
Knox College (2)
1 Lafayette College
1 Laguna College of Art and Design
1 Lake Forest College
6* Lawrence University
(Wisconsin) (5)
8* Lehigh University (6)
4* Lewis & Clark College (Oregon) (3)
26* Liberty University (21)
25* Louisiana State University at
Baton Rouge (24)
6* Louisiana Tech University (6)
1 Loyola Marymount University
5* Loyola University Chicago (4)
1* Luther College (1)
26* Macalester College (18)
1 Maranatha Baptist University
6* Marquette University (4)
1 Marshall University
1 Maryville College (Tennessee)
154 Massachusetts Institute
of Technology
1 Mercer University
1* Messiah College (1)
16* Miami University-Oxford (14)
34* Michigan State University (30)
6* Michigan Technological University (6)
6 Middlebury College
2 Minerva Schools at KGI
37* Mississippi State University (29)
15* Missouri University of Science
and Technology (12)
1 Monroe County Community College (Michigan)
12* Montana State UniversityBozeman (12)
4 Mount Holyoke College
7* New College of Florida (5)
2 New Jersey Institute of
Technology
1 New Mexico Institute of Mining
and Technology
15 New York University
*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.
14
2015–16 Annual Report
Merit
Scholars
Merit
Scholars
Merit
Scholars
8 North Carolina State University
7* North Dakota State University (7)
81* Northeastern University
(Massachusetts) (62)
168* Northwestern University (125)
22* Oberlin College (20)
4* Occidental College (3)
19 Ohio State University-Columbus
4* Ohio University-Athens (4)
7*Oklahoma Christian University (7)
3* Oklahoma City University (3)
13* Oklahoma State University (12)
14* Franklin W. Olin College of
Engineering (9)
8* Oregon State University (5)
4* Ouachita Baptist University (4)
2 Pacific Lutheran University
1 Parsons The New School for Design
Pennsylvania State University 16* University Park (5)
1 Lehigh Valley Campus
1* Pepperdine University (1)
14* Pomona College (6)
117 Princeton University
1 Providence College
125* Purdue University (98)
4 Reed College
1 Regis University (Colorado)
25* Rensselaer Polytechnic
Institute (23)
9* Rhodes College (7)
67 Rice University
1 Rider University
1 Roberts Wesleyan College
11* Rochester Institute of
Technology (11)
1 Rollins College
14* Rose-Hulman Institute of Technology (11)
35* Rutgers, The State University
of New Jersey (22)
1 St. John’s College (Maryland)
5* Saint Louis University (3)
1 Saint Mary’s College (Indiana)
14* St. Olaf College (7)
3* Samford University (3)
6* Santa Clara University (5)
2 Savannah College of Art and Design
4* Scripps College (4)
1 Seton Hall University (New Jersey)
1 Simpson College (Iowa)
6 Smith College
3* South Dakota School of Mines
and Technology (3)
3* South Dakota State University (3)
1 Southern Illinois University
Carbondale
19* Southern Methodist University (14)
4* Southwestern University (Texas) (4)
179 Stanford University
State University of New York at
2Binghamton
1Buffalo
24* Stony Brook (19)
2 Stevens Institute of Technology
7 Swarthmore College
2 Syracuse University
3* Tennessee Technological
University (3)
Texas a&m University
122* College Station (90)
2*Galveston (2)
6* Texas Christian University (4)
15* Texas Tech University (14)
1 Transylvania University
1 Trinity College (Connecticut)
9* Trinity University (Texas) (8)
8* Truman State University (5)
50* Tufts University (42)
39* Tulane University (33)
1 Union College (New York)
*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.
Elizabeth A. King poses at the
summit of Mount Katahdin, the
northern terminus of the Appalachian Trail. Nine annual backpacking trips along the trail have taught
Elizabeth to step outside her comfort
zone, “to meet new people, to try
new things, and to remember that
anything is possible.” She will apply these lessons to her mechanical
engineering studies at Purdue University and is eager to pursue new
opportunities for innovation in order
to improve the world. Elizabeth is a
winner of a 2016 National Merit
Purdue University Scholarship.
National Merit Scholarship Corporation
15
Colleges and universities enrolling the 2016 entering class of Merit Scholar® awardees (continued)
Merit
Scholars
Merit
Scholars
Merit
Scholars
2 University of Akron
University of Alabama,
155*Tuscaloosa (135)
22*Birmingham (21)
1
Huntsville
43* University of Arizona (37)
University of Arkansas,
45*Fayetteville (38)
1 Little Rock
University of California,
161Berkeley
4Davis
3Irvine
43 Los Angeles
1Riverside
19 San Diego
3
Santa Barbara
77* University of Central Florida (68)
277* University of Chicago (185)
50* University of Cincinnati (36)
10 University of Colorado Boulder
2 University of Connecticut
11* University of Dallas (5)
1 University of Dayton
3 University of Delaware
5* University of Evansville (3)
158* University of Florida (119)
39* University of Georgia (31)
25* University of Houston Main Campus (18)
17* University of Idaho (15)
University of Illinois at
29Urbana-Champaign
2 Chicago
26* University of Iowa (18)
18* University of Kansas (17)
99* University of Kentucky (88)
20* University of Louisville (15)
6* University of Maine (6)
University of Maryland,
55* College Park (42)
3* Baltimore County (3)
1 University of Massachusetts
Amherst
36* University of Miami (27)
University of Michigan
60
Ann Arbor
1 Dearborn
University of Minnesota 150* Twin Cities (113)
1*Duluth (1)
1*Morris (1)
43* University of Mississippi (30)
University of Wisconsin 17*Madison (5)
1 Eau Claire
2Oshkosh
1Superior
1Whitewater
2* University of Wyoming (1)
5* Valparaiso University (5)
220* Vanderbilt University (166)
2 Vassar College
8* Villanova University (7)
10* Virginia Commonwealth
University (9)
2 Wake Forest University
1 Walla Walla University
1 Washington & Jefferson College
15* Washington and Lee
University (12)
2* Washington State
University (1)
33 Washington University in
St. Louis
10* Wayne State University
(Michigan) (10)
1 Webb Institute
2 Wellesley College
2 Wesleyan University (Connecticut)
19* West Virginia University (15)
1 Western Carolina University
1 Western Kentucky University
3* Western Washington
University (3)
1 Westminster College (Utah)
1* Westmont College (1)
17* Wheaton College (Illinois) (14)
6* Whitman College (4)
4* Wichita State University (3)
1* Willamette University (1)
17 Williams College
2* Wofford College (2)
9* Worcester Polytechnic
Institute (8)
1 Xavier University (Ohio)
147 Yale University
3 Yeshiva University
University of Missouri 13*Columbia (8)
4* Kansas City (1)
2* University of Montana-Missoula (1)
University of Nebraska
36*Lincoln (31)
1
Omaha
University of Nevada,
10*Reno (9)
3* Las Vegas (2)
20* University of New Mexico (17)
University of North Carolina at
28 Chapel Hill
1Ashville
1Charlotte
11* University of North Texas (9)
1 University of Northern Iowa
43 University of Notre Dame
279* University of Oklahoma (236)
9* University of Oregon (8)
134 University of Pennsylvania
25* University of Pittsburgh (3)
1 University of Puerto Rico Mayaguez Campus
3* University of Puget Sound (3)
12* University of Richmond (7)
24* University of Rochester (19)
4* University of St. Thomas
(Minnesota) (4)
1 University of Sioux Falls
1 University of South Alabama
University of South Carolina 36*Columbia (31)
1*Aiken (1)
12* University of South Florida (7)
230* University of Southern
California (189)
4* University of Southern
Mississippi (3)
19* University of Tennessee,
Knoxville (11)
University of Texas at
74Austin
1Arlington
119*Dallas (94)
1
San Antonio
30* University of Tulsa (27)
33* University of Utah (28)
10* University of Vermont (9)
29 University of Virginia
23 University of Washington
Scholars
enrolled
Colleges
attended
4,075
3,292
7,367
190
144
334
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.
16
2015–16 Annual Report
Featured Merit Scholars® of 2016 and 2012
Grant H. Mercer
National Merit $2500
Scholarship, 2016
As a high school student, Grant H. Mercer started Building Buddies, a service organization that distributes Legos to homeless children. Grant would carry bins of
Legos to homeless shelters and spend time getting to know the children and helping
them with their academics. The goal, Grant explains, was “to just let them know that
someone cares about them.” So far, Grant has distributed over 750 boxes of Legos to
shelters in three states.
Grant is also an Eagle Scout, earning 100 merit badges throughout his years in Boy
Scouts of America. He constructed a nature sanctuary for his Eagle Project, which has
received approval from the Audubon Society and the National Wildlife Federation.
For his dedication to community service, Grant has won several awards, including the
Daily Point of Light Award, the Coca-Cola Scholars Scholarship, and National Eagle
Scout of the Year.
“My education has
allowed me to think
‘what if’ and then even
more importantly, has
allowed me to find
ways to make that
‘what if’ happen.”
Now attending University of Georgia, Grant intends to continue working with the
homeless while pursuing majors in biology and international affairs. He aspires to
become a research physician and focus on healthcare policy. Of his National Merit
recognition, Grant says, “It is an honor because so few attain it. It is a responsibility because I need to pass along that love of learning to the others coming up
behind me.”
Featured Merit Scholars
17
Case Western Reserve University
Majored in biochemistry
Departmental honors
Gamma Sigma Alpha (National
Academic Honor Society)
National Society of Collegiate
Scholars
Mortar Board
Harland G. Wood Prize for
outstanding performance as a
candidate for the BS
in biochemistry
Phi Beta Kappa
Summa cum laude
Catherine J. Culp
Attending Ohio State University
College of Medicine
National Merit Case
Western Reserve
University Scholarship, 2012
Catherine J. Culp knows from personal experience that medical research can improve lives. After her aunt was
diagnosed with Acute Lymphocytic Leukemia, Catherine witnessed the positive effects of innovative therapies at
the Duke Medical Center, which eventually led to the cancer’s remission. With the aspiration of helping others,
Catherine has decided to pursue a career in medicine. She says, “I hope that I can impact my patients’ lives the way
that the doctors at Duke impacted my aunt’s life.”
A graduate of Case Western Reserve University, Catherine holds a BS in Biochemistry with a triple-minor in business management, chemistry, and psychology. While in college, she studied anatomy at James Cook University in
Australia and joined the Global Brigades program in Honduras and Nicaragua, where she worked with a team
to “implement programs that improve the community’s health and economic well-being.” These experiences inspired Catherine to use her education “to help underserved populations or people in poor countries by either
volunteering at a free clinic or participating in a global health volunteer organization.”
Catherine has also completed extensive lab work, which taught her about the research process and the importance
of persevering in order to move past setbacks. She participated in a clinical quality improvement project in the
Neonatal Intensive Care Unit at Akron Children’s Hospital and gained valuable insights into her field by shadowing physicians of different specialties. While volunteering as an HIV Intervention Specialist at the Cleveland Free
Clinic, Catherine discovered “how important counseling and interacting with clients is in order to provide the best
service possible.”
Today, Catherine is a student at Ohio State University College of Medicine, her goal of becoming a physician made
easier thanks to the financial support of scholarship donors. “Their dollars,” she explains, “are being used to help
the next generation become contributing members of our society.”
18
2015–16 Annual Report
George N. Pandya
National Merit Alfred A. Davis/ASC
Partners, LLC Scholarship, 2016
Endlessly curious and exceptionally innovative, George N. Pandya says, “I am always thrilled to immerse myself in
a fascinating new problem, learning something new, whether I fail or succeed.” George received three associate’s
degrees as a dual-enrollment student before graduating from high school, and his passion for learning has enabled
him to gain experience both in the academic sphere and the workplace. One of the youngest summer interns to
work with the United Launch Alliance, George acted as a systems engineer, helping make rocket launchers easier
to monitor by designing a new data-filtering algorithm. He has a patent pending for a rocket liftoff sensor he built
after realizing the existing design was expensive and inaccurate. Working collaboratively, George developed payloads for high-altitude and suborbital flights as part of the Colorado Space Grant Consortium program sponsored
by nasa. He presented independent research on predictive modeling at a U.S. Air Force Academy conference,
and his findings were subsequently published by Cornell University Library. Through these various undertakings,
George has maintained the motto, “make by learning, and learn by making.”
Non-profit involvement is another of George’s passions. While volunteering at a low-income elementary school,
he and his peers noticed the school bathrooms did not have any soap dispensers. Further investigation revealed
that many schools in the area were unable to provide basic supplies to their students. George and his classmates
were inspired to launch the organization Starts With Soap, which provides resources to underfunded schools with
the intention of “eliminating threats to the educational well-being of students.” Additionally, George serves as
Director of Outreach for YouResearch, a non-profit that promotes research by connecting high school students to
university professors in their fields of study. He has also worked with Kids Care Club, teaching Spanish to middle
school students so they could mentor younger esl (English as a Second Language) children in math and science.
Currently, George is one of about fifty first-year students attending the exclusive Jerome Fisher Program in Management and Technology at the University of Pennsylvania. He is simultaneously working toward degrees in mechanical engineering and economics. A future entrepreneur, George is determined to spend his career “helping
people through invention and education.”
Featured Merit Scholars
19
Maria V. Filsinger Interrante
National Merit $2500
Scholarship, 2012
20
2015–16 Annual Report
Maria V. Filsinger Interrante credits the education she
received at Stanford University with giving her a solid
foundation of research and scientific communication
skills. She conducted studies on organic synthesis at the
University of Leibniz in Hanover, Germany, and presented her research on new cancer therapies at a conference in Izmir, Turkey. Maria worked as an EMT in the
Stanford Emergency Medical Service for three years and
also spent time as a trainer for the Nepal Ambulance
Service during a study abroad program in Kathmandu.
Working as an EMT “solidified my desire to include
medical service as part of my career,” Maria says. “I loved
the necessity of working under pressure and the ability
to help people in the immediate sense.”
Throughout college, Maria was involved in many extracurricular activities. She was co-president of the Stanford Equestrian Team and also performed as captain of
the Dressage squad, leading her team to national finals
on two separate occasions. Additionally, Maria took on
a leadership role in the Society of Women Engineers,
where she pioneered an on-campus mentorship program and fostered the growth of a professional network
for her fellow female engineers.
Maria graduated with a degree in bioengineering
from Stanford where she is now pursuing an MD/PhD
through a funded fellowship. She aims for a career in
academia and intends to use her training as a physician
and bioengineer to design better therapies for patients.
Maria believes the scientific community is just beginning “to leverage an understanding of DNA and protein to make more effective therapies,” and she plans to
work at the forefront of this field.
Stanford University
Majored in bioengineering
Departmental honors
Society of Women Engineers
Two fellowships from the Institute of Electrical and Electronic
Engineers / National Science Foundation
Medical Scientist Training Program fellowship for a funded MD/PhD
at Stanford
Featured Merit Scholars
21
Gerhardt N. Hinkle
National Merit Macy’s, Inc.
Scholarship, 2012
A first-year mathematics PhD student at Columbia University, Gerhardt N. Hinkle
asserts, “I would not have been able to afford college without scholarships,” and the
National Merit Macy’s Inc. Scholarship has been “instrumental in allowing me access to excellent educational opportunities.” Gerhardt graduated summa cum laude
from Rice University with a degree in mathematics and intends to become a research
mathematician. He has participated in several research experiences through Rice
University and Missouri State University, focusing on quantum physics and other
areas of advanced mathematics. In the summer of 2015, Gerhardt conducted research
with the chair of Rice’s mathematics department, and their findings were published
in the Journal of Approximation Theory. Gerhardt appreciates the “direct exposure to
academic research” he gained through these undertakings as well as the opportunity
to work in a collaborative setting.
Gerhardt is eager to pass on the knowledge he has gained from his education. A
member of the Rice Eulers math club, he helped organize a math tournament for
high schoolers and improved his skills in teaching preparation. Similarly, his participation in the Rice Quiz Bowl led to the organization of tournaments geared toward
high school students. “I remember how excited I was for quiz bowl tournaments in
high school and was glad to give the same opportunities to subsequent high school
students,” he says of the experience. Gerhardt hopes to be involved in similar academic events throughout his career.
22
2015–16 Annual Report
Rice University
Majored in mathematics
Hubert E. Bray Prize in Mathematics for the outstanding
junior mathematics major at Rice
University
Summa cum laude
PhD student at Columbia
University
Dean’s Fellowship
“It is a tremendous
honor to receive
this award from
such a prestigious
institution.... I am
excited because
this recognition
will hopefully show
other students in
my hometown that
anything is achievable
with a little hard work
and determination.”
Isaiah J. Drummond
National Merit Aon
Scholarship, 2016
Isaiah J. Drummond was inspired to combine his interests in biology and mechanical engineering after attending
the Minority Introduction to Engineering and Sciences (mites) summer program through Massachusetts Institute
of Technology. At mites, he won the Edna and Leon Trilling Award for Overall Academic Excellence, completed
research at the Broad Institute for Genomics, and interviewed professionals at the Boston Medical Center. These
activities motivated him to “work diligently to leave a positive, lasting impact on the world.” Isaiah asserts,“I hope
to discover new ways to fight against ailments” and “use my knowledge and skills to increase public awareness of
diseases and encourage others to join the fight.”
Currently studying biomechanical engineering at Stanford University, Isaiah says he was “delighted” to receive a
National Merit Aon Scholarship, the same award his brother Jay, a recent Harvard graduate, received in 2011. “I
can focus on obtaining an enriching education without fear of heavy financial burdens,” Isaiah explains. “This
award is completely life changing and I will forever be grateful.”
Isaiah intends to make the most of his education by joining organizations such as the Stanford Society of Black
Scientists and Engineers and participating in study abroad programs. Music is among Isaiah’s extracurricular
pursuits; he was first chair in his high school’s symphonic band and, as head drum major, led his marching band
to place at the state competition. Isaiah will continue to develop his musical abilities by playing saxophone in the
Leland Stanford Junior University Marching Band.
Featured Merit Scholars
23
Nivedina A. Sarma
National Merit University of
Chicago Scholarship, 2016
24
2015–16 Annual Report
“Being a member
of this national
community of Scholars
is an immense honor,
and I will never stop
working to earn the
privilege.”
As a high school sophomore, Nivedina A. Sarma was accepted into the Texas Academy of Mathematics and Science
at the University of North Texas. She enrolled in college classes and combined her passions for mathematics and
music theory by completing a research project investigating a formula for award-winning musical compositions.
Nivedina presented her findings and won first place at the inspire research competition through Massachusetts
Institute of Technology. “I am empowered when I work on projects that juggle different fields,” Nivedina explains,
“because I believe that interdisciplinary work is at the heart of innovation.”
Nivedina has collaborated with the Dallas Symphony Orchestra as President of the Teen Council, a group that
strives to connect teenagers to classical music. She worked with the marketing department and increased the symphony’s online presence by launching a blog. A pianist for 12 years, Nivedina considers music to be “a universal
language that connects people who may have very little else in common.” She has a long-term aim of growing arts
education programs in schools.
Nivedina’s career goals were solidified by her experiences as a hospital volunteer. At Cook Children’s Hospital,
Nivedina cared for a newborn girl suffering from a life-threatening genetic disorder. She learned that the child’s
condition was the result of molecular miscommunications, and was motivated “to use science to serve people”
and “to bring hope into bleak situations.” Currently, Nivedina is enrolled in the University of Chicago’s Molecular
Engineering Program. “I am very lucky,” she says, “that both my family and my country see value in me receiving
an education.” While in college, Nivedina will continue to pursue her love for the arts by joining the University of
Chicago’s Indian classical dance team, continuing her 13-year practice of India’s ancient dance form, Odissi.
Featured Merit Scholars
25
Abigail J. (Lipschultz) Tesar
National Merit $2500
Scholarship, 2012
Abigail J. Tesar describes herself as “committed to being a compassionate and loving
member of society who promotes health and social justice for everyone.” By earning
a nursing degree from Boise State University (bsu) and cultivating an extensive track
record of volunteer and non-profit involvement, Abigail has undoubtedly followed
through with her commitments.
With the help of her National Merit Scholarship, Abigail was able to obtain a full
ride to bsu, making it possible for her to pursue study abroad opportunities. She
traveled to Belize to volunteer with elementary school children, teaching the importance of healthy lifestyles. She also had the opportunity to immerse herself in
the culture of Bangalore, India, while on a three-week service learning trip. Abigail
taught English, volunteered at an orphanage, and worked to benefit women in
disadvantaged situations.
Closer to home, Abigail provided nursing care and health education to the Peruvian
immigrants who work as sheepherders in the most rural areas of Idaho. Additionally,
she established Idaho’s first chapter of Strive for College, a national organization of
college students who help high schoolers from low-income backgrounds apply to
college and obtain financial aid resources. Through her service learning activities,
Abigail states that she “became more sensitive to the experiences and perspectives of
others,” and she intends “to apply this knowledge constantly” both in and outside of
her field.
Currently, Abigail works as a registered nurse in the Oncology unit at St. Luke’s
Health System in Boise. She appreciates the importance of her education and plans
to pursue graduate studies with the goal of becoming a nurse practitioner.
26
2015–16 Annual Report
Boise State University
Majored in nursing
Departmental honors
Sigma Theta Tau (International
Honor Society of Nursing)
Boise State Top Ten Scholar
Award
Summa cum laude
Registered nurse at St. Luke’s
Health System
“My dream job is to become a roller coaster designer,”
Nathan R. Washburn states when describing the impact
he hopes to have in his chosen field of engineering. A
freshman at Purdue University, Nathan plans to use his
interest in mechanical and computer engineering to
design roller coasters with virtual reality components.
He is also dedicated to solving the world’s energy and
water crises and intends to design products such as offshore windmills, personal solar panels, and more efficient desalination machines to convert salt water into
safe drinking water. Wherever his passions lead, Nathan
believes his education at Purdue will provide him with
“the skills and means to find a career and start making
a difference in the world.”
In high school, Nathan excelled in both academics and
athletics. He took the most rigorous courses available,
acted as president of the math club, and won first place
in the 2014 Milwaukee School of Engineering math
competition. One of Nathan’s most meaningful experiences was his appointment as a school representative
for Badger Boys State, a week-long summer camp for
Wisconsin high schoolers that focuses on leadership
and the workings of government. He made valuable
connections with other campers, stating, “their passion,
work ethic, and goals have driven me to strive for more
and believe in myself.”
An avid soccer player, Nathan played on his high
school’s varsity team for four years. He has held the titles
of Academic All-State Soccer Player of the Year and Midwest Classic Conference Player of the Year and spent his
summers refereeing and volunteering at youth soccer
camps. In college, Nathan will continue to pursue his
passion for soccer by playing for the club soccer team.
“As I gain more knowledge about engineering
and designing, I can try to fight the energy and
water problems that will surely be some of the
biggest issues of my generation.”
Nathan R. Washburn
National Merit Purdue
University Scholarship, 2016
Featured Merit Scholars
27
Amy T. Sun
National Merit $2500
Scholarship, 2012
28
2015–16 Annual Report
While attending Johns Hopkins University, Amy T. Sun pursued a double degree in
biomedical engineering and engineering mechanics. She gained valuable laboratory
experience at several internships, including two at the National Institutes of Health,
and worked as a research assistant in the systems biology laboratory at Johns Hopkins
School of Medicine. Amy is passionate about “solving problems and understanding
how the world works” and is grateful for her scholarship, which helped her partake in
study abroad opportunities. During an internship for the National University of Singapore, Amy designed soft endoscopes to make diagnosing gastrointestinal diseases
less painful for patients; she also volunteered in Ghana and Myanmar and backpacked across Asia. Amy believes “engineers these days not only have to be technically
competent and innovative, but they should also be globally sophisticated, flexible,
and culturally aware.”
Serving her community has been a goal of Amy’s since childhood. At the age of 13
she, along with her younger siblings, started the Little Stars Foundation, an organization of young musicians who volunteer at nursing homes in the Detroit area. Herself
a violinist, Amy led summer violin workshops for children of low-income families
and performed as a member of the Peabody Concert Orchestra at Johns Hopkins.
Amy’s other interests include athletics and campus involvement. She is a fourthdegree black belt in Taekwondo as well as a member of the varsity fencing team. Amy
enjoyed her tenure as class president in student government, where she organized
numerous events that served to unite her classmates. “I thrive in an environment with
sharp, like-minded individuals,” Amy says, “where we can challenge and learn from
each other.”
Johns Hopkins University
Majored in biomedical engineering and engineering mechanics
Departmental honors
Alpha Phi Omega (leadership/
service society)
Class president in student
government for four years
Phi Beta Kappa
Currently works as a business
analyst for McKinsey and
Company
Currently, Amy works as a business analyst for McKinsey and Company, where she
plans to gain a few years of experience before applying to an MBA program. From
there, she intends to start her own biotechnology company and develop solutions for
people living with Parkinson’s disease.
“The National Merit
Scholarship changed
my life....Supporting
education is the best
investment; it does
not just impact the
life of the scholarship
recipient like me, it
inspires many people
and impacts the
future of our next
generation.”
Featured Merit Scholars
29
Colton S. Sleister
National Merit Drake
University Scholarship, 2016
Colton S. Sleister used his life savings to start his own company, Sleister Brass, to fill a need in his community. As
the trombone section leader of his high school band, Colton noticed that there was “a shortage of quality used
musical instruments” for beginner band students, so he began refurbishing old trombones and trumpets to sell
at reasonable prices. Entrepreneurship has taught Colton that business success requires “initiative, creativity, selfmotivation, and perseverance.”
Additionally, Colton possesses “a thirst for knowledge and a need to be challenged,” which are satisfied through
academic pursuits. During a summer research program for high schoolers, he spent ten weeks at the State University of New York at Buffalo using resources of the behavioral neuroscience lab to investigate causes of drug
addiction. This research opportunity inspired Colton to enroll in the Biochemistry, Cell and Molecular Biology
program at Drake University; he plans to complete majors in chemistry and mathematics as well. While in college,
he will continue to operate Sleister Brass and play the trombone. Long term, Colton hopes to combine his business
experience with his scientific education to improve the world around him. “I have always been amazed by the ability of science to improve human lives,” he says. “I will relentlessly ask questions until I have the deepest and most
functional understanding of my field.”
“National Merit is more than a great honor; it is a community. As a National Merit Scholar, I share
something with people like Bill Gates, Jeff Bezos, Paul Krugman, and Chief Justice John Roberts.
These people are legends. Winning this award is confirmation that I could become the next leader
in my field. It inspires me to work diligently and intelligently in pursuit of the same excellence that
other National Merit Scholars have produced.”
30
2015–16 Annual Report
Marissa R. Cucinotta
Bristol-Myers Squibb
Company Scholarship, 2012
Villanova University
Majored in mechanical
engineering
Tau Beta Pi (Engineering Honor
Society)
Pi Tau Sigma (Mechanical Engineering Honor Society)
Co-president for the Villanova
chapter of Engineers Without
Borders
Summa cum laude
Pursuing a master’s degree
in bioengineering at Stanford
University
The Bristol-Myers Squibb Company Scholarship awarded to Marissa R. Cucinotta enabled her to “focus more on some of the incredible extracurricular opportunities
that universities provide.” Marissa was able to participate in a language-immersion
study abroad program in Berlin and a service-learning project in Panama while she
pursued a degree in mechanical engineering at Villanova University. She also volunteered with the Villanova chapter of Habitat for Humanity, led a mission trip to
Georgia, and acted as a teaching assistant and peer advisor for the Honors College.
Marissa was introduced to the world of product design through a mechanical engineering internship with Lutron Electronics, and she investigated the design and
improvement of medical devices while working as a research intern at the Technical University of Munich. At Villanova, Marissa’s research on osteoporosis led to a
research assistant position with the Cellular Biomechanics and Sports Science Lab.
“Conducting research as part of my undergraduate studies enabled me to explore
the applications of what I was learning in the classroom,” she says, “and helped me to
decide to pursue bioengineering.” Currently, Marissa is attending Stanford University
where she intends to earn her master’s degree and continue her aspiration to “design
devices that help doctors do their jobs more easily and more successfully and that
enable patients to recover more quickly.”
Featured Merit Scholars
31
“It is an incredible
honor to be recognized
for my activities in
the areas of math and
science, and I will use
this scholarship to
continue pursuing my
dreams.”
Laurel M. Wright
National Merit John M. Stalnaker
Memorial Scholarship, 2016
Laurel M. Wright is the 2016 recipient of the National Merit John M. Stalnaker Memorial Scholarship, which is
given each year to an outstanding National Merit Finalist planning to pursue a career in mathematics or science.
This four-year award is underwritten by nmsc in honor of its founding President and Chief Executive Officer,
who recognized a need for increased support of science and math in America. Laurel is attending Massachusetts
Institute of Technology (mit) where she plans to turn her dream of becoming a theoretical physicist into a reality.
The passion Laurel has for her field of study is apparent in her accomplishments throughout high school. She
presented research findings at the Badger State Science and Engineering Fair, was the top scorer of her high
school’s mathematics team, and was part of a team that won Destination Imagination’s Scientific Challenge state
championship, in which students compete by using stem principles to creatively solve problems. Most notably,
Laurel was one of only four Americans selected to attend the International Summer School for Young Physicists at
the Perimeter Institute for Theoretical Physics in Ontario. During the two-week program, Laurel had the opportunity to tour physics labs, take classes, and make connections with aspiring scientists from around the world. The
experience, she says, “taught me how crucial collaboration is to progress,” citing that a difficult physics problem
“was only impossible when I tried to solve it alone.”
Laurel has worked collaboratively in her extracurricular pursuits as well. She was able to explore her enthusiasm
for the written word by working at her hometown’s public library, where she also acted as President of the library’s
Youth Advisory Council. Laurel was a member of the National Honor Society and the cross-country team; she performed in several high school plays and played saxophone in the high school band. In college, Laurel intends to
further cultivate her interests outside of her major by joining mit’s wind ensemble or jazz band.
32
2015–16 Annual Report
Featured Merit Scholars
33
Featured Achievement Scholars® of 2015 and 2012
nmsc conducted the National Achievement® Scholarship Program for academically talented Black American high
Ronald Obi Nwumeh
National Achievement $2500
Scholarship, 2012
Obi is pictured with Dr. Thomas R. Cech, who was a
National Merit Scholarship winner in 1966.
Ronald Obi Nwumeh considers his National Achievement Scholarship to be both “a reward for hard work and
motivation for future accomplishments.” A recent cum laude graduate of Washington University in St. Louis, Obi
believes “life is interdisciplinary,” and adds that his degree in molecular biology and biochemistry along with his
minor in Chinese language and culture have given him “fresh perspectives, necessary skills, people to learn from,
and a clearer understanding of the world.” In college, Obi studied abroad at Fudan University in Shanghai as
part of the Global MedPrep Scholars Program, which is designed for undergraduate students interested in global
healthcare. The experience abroad helped him gain a wide perspective of the medical field as well as “a sense of
adventure and a love of experiencing different ways of life.”
With funding he received from the Howard Hughes Medical Institute, Obi was able to complete student research
experiences at the University of Colorado in the lab of Dr. Thomas R. Cech, a 1966 National Merit Scholar and
34
2015–16 Annual Report
Photo Credit: Emilia Costales, University of Colorado
school students from 1964 to 2015. Last year, the program was redirected to provide awards for high-achieving
underrepresented college graduates through the newly created uncf Achievement Capstone Program sponsored by
the National Achievement Scholarship Program and administered by uncf. Although nmsc no longer conducts the
National Achievement Scholarship Program, it continues to celebrate the accomplishments and goals of past National
Achievement Scholars. Featured in this section are three of these outstanding individuals.
winner of the 1989 Nobel Prize in Chemistry. After graduating in May 2016, Obi
returned to Dr. Cech’s lab to continue his research on cancer mutations, working
alongside an American Cancer Society postdoctoral research fellow. Obi’s lab activities include participating in weekly meetings, discussing research papers with other
students and Dr. Cech, and improving his ability to think through experiments, all
of which he describes as “challenging but invaluable” practices. Obi says, “working
here has accelerated my development as a scientist and I am eager to carry what I’m
learning into my medical career.”
Next fall Obi will attend the Perelman School of Medicine at the University of Pennsylvania, where he will work toward an MD. He intends to focus on health and the
public sphere and contribute to the rapidly evolving biomedical field. Ultimately, Obi
plans “to influence the public to embrace the philosophy of science in general—constantly asking questions and seeking evidence.”
Washington University in
St. Louis
Majored in molecular biology
and biochemistry
Departmental honors
uncf Merck Undergraduate
Research Scholarship
Cum laude
Accepted to the Perelman School
of Medicine at the University of
Pennsylvania
Obi poses along the Lake Dorothy trail in Colorado with Dr. Thomas Cech and other researchers during Cech Lab’s annual summer hike.
Featured Achievement Scholars
35
The youngest of six sisters, Natalie M. Johnson has experienced the financial strain that often accompanies
a quality education. “Winning a National Achievement
Scholarship,” she says, “was very moving for me because
it meant for the first time in my life I could pursue my
academic passions without stress caused by limited finances.” Natalie iterates, “very real social barriers prevent other low-income students from achieving the
same things as I have.” She intends to use her education
to give back to others.
In high school, Natalie completed about 150 hours of
community service activities through her involvement in
various honors societies, including the German Honor
Society for which she was vice president. She was also involved in all aspects of her high school’s theater department, from playwriting to stage management. These
experiences, Natalie says, “taught me a lot about being
confident and sharing myself and my art, as well as the
joy of collaborative learning.”
Natalie M. Johnson
National Achievement
Boule Foundation
Scholarship, 2015
“I believe my education will open doors to the
professional world and a promising future, and
will allow me to find my life’s purpose without
the stress of financial insecurity.”
36
2015–16 Annual Report
After graduating from high school in 2015, Natalie
spent a gap year in China. She studied Mandarin while
serving as a student ambassador for the National Security Language Initiative for Youth, a program funded by
the U.S. State Department to foster interest in foreign
languages and cultures among young Americans. The
time abroad, Natalie says, “reinforced my passions for
language, intercultural understanding, urban studies,
and human rights activism.” She enjoyed the challenges
of living in a different culture and appreciates the
friendships she made with other exchange students.
Currently in her first year at Stanford University, Natalie
is considering a major in urban studies with a minor
in computer science. In the future, she plans “to make
cities, rural countrysides, and every place in-between
around the globe safer, more secure, and enriching for
everyone living there.”
As an undergraduate student at Massachusetts Institute
of Technology (mit), Samuel E. Udotong majored in
aerospace engineering with the future goal of making
everyday use of unmanned aerial vehicles (uav) a reality. “I would love to see a world where uavs are as safe
and prevalent as lawn mowers,” Samuel says. He credits
his education at mit with his work ethic and ability to
learn about and understand the world, “which is necessary to be able to improve it.”
Samuel holds many accomplishments in his field. He
co-founded the mit Unmanned Aerial Vehicle Club,
leading them to participate in the International Aerial
Robotics Competition and complete projects, such as
designing a quadcopter to act as a campus tour guide.
In 2016, he was honored with the 20 Twenties Award
sponsored by Penton’s Aviation Week Network in partnership with the American Institute of Aeronautics and
Astronautics. This award is given to the top students in
stem fields and aims to connect emerging engineers
with established leaders in the aerospace and defense
industries. Additionally, Samuel completed three
summer internships working as a systems engineer at
Lockheed Martin and spent one summer developing web applications at Boeing. “These experiences,”
Samuel says, “have given me a lot of insight into how big
corporations are run, and have encouraged me to look
at the other side of the spectrum—startups.”
Two years ago, Samuel founded Fireflies.ai, a tech company which “aims to make everyday life more efficient.”
He has created a web extension to help people manage their daily communication channels; “Fireflies.ai
learns who is important to you and makes sure that you
do not forget about your priorities,” Samuel explains.
Currently the technical lead at Fireflies.ai, Samuel
has been accepted into the exclusive 2+2 Program at
Harvard Business School. In this program, he will gain
valuable experience working in his professional position
for two years before attending two years of MBA classes
at Harvard. “I could not have gotten where I am today,”
Samuel says, without the support and recognition from
the National Achievement Scholarship. “It really gave
me the confidence to push my boundaries.... I will definitely be paying it forward as soon as I have the chance.”
Samuel E. Udotong
National Achievement $2500
Scholarship, 2012
Massachusetts Institute of Technology
Majored in aerospace engineering
Founder, mit uav Club
Founder and current technical lead of Fireflies.ai
Accepted into Harvard Business School’s 2+2 Program
Featured Achievement Scholars
37
Accomplishments and future plans of Scholars who graduated from college in 2016
86% reported a gpa of A- or above
upon graduation.
70% reported receiving academic
honors, awards, fellowships, or scholarships in addition to the awards they
received from nmsc.
38
Top postgraduate plans of recipients of National Merit Scholarships,
National Achievement Scholarships, and Special Scholarship awards
Graduate School (23%)
Business (13%)
Computer Science (10%)
43% graduated summa cum laude
(with highest honors).
Medical School (9%)
90% 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%)
2015–16 Annual Report
Engineering (8%)
Teaching (4%)
Other (29%)
Financial RepoRt
June 1, 2015–May 31, 2016
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, 2016 and 2015, 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 judgment, 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, 2016 and 2015, 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.
RSM US LLP
Chicago, Illinois
August 8, 2016
39
STATEMENTS OF FINANCIAL POSITION May 31, 2016 and 2015
Assets
Cash
2016
$
Investments, at fair value
Money market funds
Common and preferred stocks (cost: 2016, $9,216,339; 2015, $7,686,158)
Mutual funds (cost: 2016, $102,688,894; 2015, $109,667,379)
Net assets
Unrestricted
Temporarily restricted
Permanently restricted
See Notes to Financial Statements.
40
2015
$
396,169
7,455,164
11,309,855
118,758,763
9,136,120
11,163,147
134,991,010
137,523,782
155,290,277
9,507,547
647,772
32,902
7,285,844
200,525
27,962
10,188,221
$ 148,254,955
7,514,331
$ 163,200,777
$
$
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
542,952
1,893,297
1,126,345
26,514
1,978,914
1,048,836
22,437
3,046,156
3,050,187
$ 141,021,635
1,126,148
3,061,016
$ 155,672,544
1,417,030
3,061,016
145,208,799
$ 148,254,955
160,150,590
$ 163,200,777
STATEMENTS OF ACTIVITIES years ended May 31, 2016 and 2015
Unrestricted
Revenue:
Sponsor grants and donor contributions
Investment income, net
Test fee revenue
Operational contributions
Other
Net assets released from restriction
2016
2015
$ 37,697,586
1,393,298
3,724,470
1,500,000
3,600
187,081
$ 38,781,502
1,680,226
3,239,240
4,983,696
3,615
185,075
44,506,035
48,873,354
36,983,638
8,040,333
9,929,575
38,004,134
7,931,500
8,239,240
10,548,029
54,953,546
64,722,903
(4,203,398)
7,950,652
(14,650,909)
(7,898,897)
Temporarily restricted
Investment loss, net
Net realized and unrealized gain (loss) on investments
Net assets released from restriction
(10,345)
(93,456)
(187,081)
(8,446)
215,787
(185,075)
Change in temporarily restricted net assets
(290,882)
22,266
(14,941,791)
(7,876,631)
160,150,590
$145,208,799
168,027,221
$160,150,590
Expenses:
Sponsor scholarship expense
nmsc scholarship expense
Contribution expense
Operating expenses
Net realized and unrealized gain (loss) on investments
Change in unrestricted net assets
Decrease in net assets
Net assets
Beginning of year
End of year
See Notes to Financial Statements.
41
STATEMENTS OF CASH FLOWS years ended May 31, 2016 and 2015
Cash Flows from Operating Activities
Decrease in net assets
Adjustments to reconcile decrease in net assets to net cash used in operating activities:
Unrealized loss on investments
Realized gain on investments
Loss on disposal of assets
Depreciation and amortization
Changes in:
Other receivables and prepaid expenses
Accrued interest and dividend income receivable
Sponsor grants received in advance
Accounts payable and accrued expenses
Payable to brokers and banks
Net cash used in operating activities
2016
$
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 in cash
Cash:
Beginning of year
End of year
$
(14,941,791)
2015
$
(7,876,631)
10,637,235
(6,340,381)
60,697
2,720,326
14,439,921
(22,606,360)
47,151
2,166,362
(447,247)
(4,940)
(85,617)
77,509
4,077
(25,659)
21,588
31,891
101,710
(99,599)
(8,320,132)
(13,799,626)
(72,190,150)
85,659,791
(5,002,726)
(92,356,934)
109,094,458
(2,702,352)
8,466,915
14,035,172
146,783
235,546
396,169
542,952
$
160,623
396,169
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 420 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 the National Merit Scholarship Program, an annual academic competition for recognition and college undergraduate scholarships, which is open to all U.S. high school students who meet published participation
requirements. From 1965 through 2015, nmsc also conducted the National Achievement Scholarship Program, in which Black American
students participated. The last awards were offered in 2015, and nmsc forged a relationship with the 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
million 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.
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.
42
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, 2016 and 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 $278,971 and $273,898 for the years ended May 31, 2016
and 2015, respectively.
Software, equipment, furniture, and leasehold improvements are stated at cost. nmsc accounts for costs incurred for software developed or
obtained for internal use in accordance with Financial Accounting Standards Board (fasb) Accounting Standards Codification Topic 350-40
Internal Use Software, including capitalizing costs incurred during the application development stage. Software costs that do not meet capitalization criteria are expensed as incurred. 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 and amortization are computed using the straight-line method over the estimated
useful lives of the assets. Equipment is depreciated over five years and furniture is depreciated over 10 years. Software is amortized over five
years beginning when the software is ready for its intended use.
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). These fees are reflected on the statements of activities as
test fee revenue. For fiscal year 2015, nmsc reported an equivalent amount of contribution expense because it chose to waive receipt of these
fees, and effectively donated them back to the College Board as an investment in the exam’s quality and validity, and to ensure the cost per
exam is kept to a minimum. In fiscal years 2016 and 2015, nmsc recorded operational contributions revenue of $1,500,000 and $4,983,696,
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 2013, which is the standard statute of limitations look-back period.
43
NOTES TO FINANCIAL STATEMENTS (continued)
In January 2016, the fasb issued Accounting Standards Update (asu) 2016–01, Financial Instruments—Overall (Subtopic 825–10): Recognition and Measurement of Financial Assets and Financial Liabilities, which updates certain aspects of recognition, measurement, presentation
and disclosure of financial instruments. ASU 2016–01 will be effective for nmsc in the fiscal year ending May 31, 2020. nmsc is currently
evaluating the impact of the adoption of this standard on its financial statements.
In February 2016, the fasb issued asu 2016–02, Leases (Topic 842). The guidance in this asu supersedes the leasing guidance in Topic 840,
Leases. Under the new guidance, lessees are required to recognize lease assets and lease liabilities on the statement of financial position for
all leases with terms longer than twelve months. Leases will be classified as either finance or operating, with classification affecting the pattern
of expense recognition in the statement of activities. The new standard is effective for nmsc in the fiscal year ending May 31, 2021. nmsc is
currently evaluating the impact of the adoption of the standard on its financial statements.
nmsc has evaluated subsequent events for potential recognition and/or disclosure through August 8, 2016, the date the financial statements
were available to be issued.
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. The funds’ earnings are designated for scholarships.
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, 2016 and 2015 is as follows:
Unrestricted
Donor-restricted funds
Board-designated funds
$
$ 1,126,148
$ 1,126,148
Unrestricted
Temporarily
Restricted
2015
Permanently
Restricted
$
$ 1,417,030
$ 3,061,016
$
44
2016
Permanently
Restricted
370,287
370,287
$
Donor-restricted funds
Board-designated funds
Temporarily
Restricted
-
$ 3,061,016
$ 3,061,016
Total
$ 4,187,164
370,287
$ 4,557,451
Total
$ 4,478,046
370,287
-
-
370,287
370,287
$ 1,417,030
$ 3,061,016
$ 4,848,333
Changes in endowment assets for the years ended May 31, 2016 and 2015 were as follows:
Unrestricted
Balance, beginning of year
Investment loss, net
Net realized and unrealized loss
on investments
Endowment net assets
appropriated for expenditure
Balance, end of year
$
$
$
$
2016
Permanently
Restricted
Total
370,287
-
$ 1,417,030
(10,345)
$ 3,061,016
-
$ 4,848,333
(10,345)
-
(93,456)
-
(93,456)
370,287
(187,081)
$ 1,126,148
$ 3,061,016
(187,081)
$ 4,557,451
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
2015
Temporarily
Permanently
Restricted
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
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 endowments each year, limited to a percentage of the endowment market value. The percentage is set by taking into account the long-term expected return on the endowments while maintaining the
endowments’ purchasing power over time. During 2016 and 2015, managment approved an appropriation of 4%.
45
NOTES TO FINANCIAL STATEMENTS (continued)
Note 3. Fundraising Costs
Total fundraising costs incurred by nmsc were $1,441,995 and $1,590,907 for the years ended May 31, 2016 and 2015, respectively. Such
costs are reflected in operating expenses in the statements of activities.
Note 4. Total nmsc Expenses
Total nmsc expenses incurred for the years ended May 31, 2016 and 2015 were allocated as follows:
Program
Services
Scholarship expense
Compensation and employee benefits
Printing, general office, and depreciation
Professional services
Rent, maintenance, and amortization of
leasehold improvements
Advisory Council and Selection Committee
Directors’ meetings and employees’ travel
$ 45,023,971
1,528,849
2,060,662
2,426,082
332,724
65,858
27,159
$ 51,465,305
Program
Services
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
$ 45,935,634
8,239,240
1,825,792
1,744,538
3,032,725
342,461
87,433
21,200
$ 61,229,023
2016
Management
Fundraising
and General
$
$
795,276
619,535
513,950
110,908
6,577
2,046,246
$ 45,023,971
2,674,594
3,179,617
3,434,574
84,501
13,063
$ 1,441,995
528,133
65,858
46,799
$ 54,953,546
2015
Management
Fundraising
and General
$
$
756,921
460,889
576,905
103,282
4,976
1,902,973
Total
350,469
499,420
494,542
$
$
Total
310,766
466,029
707,174
$ 45,935,634
8,239,240
2,893,479
2,671,456
4,316,804
97,846
9,092
$ 1,590,907
543,589
87,433
35,268
$ 64,722,903
Note 5. Investment Gains and Losses
Net realized and unrealized gains and losses for the years ended May 31, 2016 and 2015 consisted of the following:
Net unrealized gain at end of year
Net unrealized gain at beginning of year
Net unrealized loss for the year
Net realized gain for the year
Net realized and unrealized gain (loss) on
investments for the year
2016
Total
2015
Total
$18,163,385
28,800,620
$ 28,800,620
43,240,541
(10,637,235)
6,340,381
(14,439,921)
22,606,360
$(4,296,854)
$ 8,166,439
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 fasb 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 lowest priority to unobservable
46
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, 2016 and 2015, there were no such transfers.
For the years ended May 31, 2016 and 2015, 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. Level 1 funds are reported at fair value based on quoted market prices for those or similar investments. Level 2 funds are reported at net asset values, which are provided by the trustee and are based on
the fair value of the underlying securities and generally represent the amount nmsc would expect to receive if it were to liquidate the investments, which can occur daily. The fair values of such investments as defined by the fair value hierarchy at May 31, 2016 and 2015 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
2016 Total
$
9,253,438
2,056,417
Quoted Prices in
Active Markets for
Identical Assets
Level 1
$
9,253,438
2,056,417
13,839,609
57,896,104
47,023,050
7,455,164
$ 137,523,782
4,801,942
55,005,562
17,656,225
7,455,164
$ 96,228,748
2015 Total
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
$
9,208,896
1,954,251
4,881,206
65,746,405
21,299,760
9,136,120
$ 112,226,638
Significant Other
Observable Inputs
Level 2
$
-
9,037,667 (a)
2,890,542 (b)
29,366,825 (c)
$ 41,295,034
Significant Other
Observable Inputs
Level 2
$
-
11,407,309 (a)
3,065,366 (b)
28,590,964 (c)
$ 43,063,639
(a) This category includes U.S. securities of large, mid, and small capitalization companies.
(b) This category includes U.S. and non-U.S. securities of large, mid, and small capitalization companies.
(c) This category includes corporate bonds, municipal securities, asset backed securities, and U.S. government and government agency obligations.
47
NOTES TO FINANCIAL STATEMENTS (continued)
Note 7. Property and Equipment
Property and equipment for the years ended May 31, 2016 and 2015 consisted of the following:
Software
Equipment
Furniture and fixtures
Leasehold improvements
2016
2015
$ 17,685,696
137,778
102,078
390,349
$ 12,813,266
144,362
102,078
390,349
Accumulated depreciation and amortization
18,315,901
(8,808,354)
$ 9,507,547
13,450,055
(6,164,211)
$ 7,285,844
The provisions for depreciation and amortization amounted to $2,720,326 and $2,166,362 for the years ended May 31, 2016 and 2015, 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
2016 is estimated to be $97,500,000. 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 $6,600,000.
Note 9.
Lease Commitments
nmsc has a noncancelable lease for office space expiring September 30, 2019. Rent expense for the years ended May 31, 2016 and
2015 was $485,204 and $497,932, respectively. Minimum rental commitments for each of the four succeeding fiscal years are as follows:
$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 $289,961 and $301,850 for the years ended May 31, 2016 and 2015, 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.
48
ADVISORY COUNCIL: 2015–16
SELECTION COMMITTEE: National Merit Scholarships in 2016
MURRAY W. BROCKMAN
President
South Carolina Governor’s School for
Science and Mathematics
Hartsville, South Carolina
KATE W. BRITTAIN
Associate Director of Recruitment
and Enrollment
Rutgers – The State University of New Jersey
ALLENE P. NIEMIEC
Associate Director of College Guidance
Saint Andrew’s School
Boca Raton, Florida
DAVID J. CHEHEY
Counseling Department Chair
Boise High School
Boise, Idaho
BILL P. PINK
Vice President and Dean of
Workforce Development
Grand Rapids Community College
BETSY DOLAN
Director of College Counseling
Phillips Exeter Academy
Exeter, New Hampshire
CHARLENE F. RENCHER
Former Dean of College Counseling
Cranbrook Kingswood Upper School
Bloomfield Hills, Michigan
JUDY FRIAR
Counselor – Highly Gifted Program
West Anchorage High School
Anchorage, Alaska
DAVID W. SEAVER
Assistant Vice President for
Enrollment Management
Tulane University
ZAKAREE M. HARRIS
Director of Undergraduate Admission
Regis College
JULIE STAYNER
Former Director of College Counseling
Jackson Hole High School
Jackson, Wyoming
LINDA A. BRODEUR
President
Bishop Guertin High School
Nashua, New Hampshire
LISA J. HENDRIX
Principal
Hellgate High School
Missoula, Montana
PHILIP A. HOOPER
Director of College Guidance
Episcopal Collegiate School
Little Rock, Arkansas
GRETCHEN M. KESSLER
Principal
Regis Jesuit High School (Girls Division)
Aurora, Colorado
BRANDON P. KOSATKA
Director of Student Services
Thomas Jefferson High School for
Science and Technology
Alexandria, Virginia
SUSAN MALONE
Former Principal
Hillcrest High School
Midvale, Utah
JULIE A. KERICH
Director of Admission
Franklin & Marshall College
LOLETHIA LOMAX-FRAZIER
Professional School Counselor
Eleanor Roosevelt High School
Greenbelt, Maryland
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
BRIAN P. SINCHAK
President
Lakewood Catholic Academy
Lakewood, Ohio
CHERIE STROUD
Principal
Crescent Valley High School
Corvallis, Oregon
DAVID L. STUBBLEFIELD
Principal
Blue Valley North High School
Overland Park, Kansas
ANDREW T. WATSON
Head of School
Albuquerque Academy
Albuquerque, New Mexico
© 2016 National Merit Scholarship Corporation. All rights reserved. Printed in U.S.A.
PETER B. WILSON
Deputy Dean of Admissions and Chief of Staff
The University of Chicago
DOUGLAS K. ZELTINGER
Senior Admission Counselor
North Dakota State University
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.
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National Merit Scholarship Corporation
1560 Sherman Avenue, Suite 200
Evanston, IL 60201-4897
(847) 866-5100
www.nationalmerit.org