To provide undergraduate scholarships in the amount of Five Hundred Dollars ($500) to first year students at accredited Canadian universities, colleges and technical schools. The scholarship money is to be used exclusively for tuition and books.
Since its formation, the G.M.F.C. has been collecting memorial donations in a special account. In 1987 a committee was formed to establish a scholarship fund with Tax exemption status. In 1993, the G.M.F.C. Scholarship Foundation Inc. was incorporated and operational.
At the 1994 Annual General Meeting, it was announced that a Graduate Scholarship of $1,000 would be awarded to a student in the Earth Sciences. Each member club is encouraged to nominate a candidate for The Honourary Scholarship Award every year. The candidate must be a club member who has performed outstanding service to the Earth Sciences through his/her work for the hobby. The winner has the honour of selecting the university where the scholarship will be awarded in his/her name. The first scholarship was awarded in the name of Mel Epp of The Southern Alberta Rockhounds, at the University of Calgary in 1994.
Only interest earned on the donations can be paid out as a scholarship. In every year since 1994, we have funded a $1,000 graduate scholarship at a Canadian University in the name of deserving rockhound.
In 1998, the Scholarship Foundation awarded the first undergraduate scholarship of $500 to a first year student. In 1999, two $500 undergraduate scholarships and one $1000 graduate scholarship were awarded. The $1000 scholarship is fully funded while the number of $500 undergraduate scholarships awarded is dependent on interest rate, which can vary from year to year.
To qualify for the undergraduate scholarship, the student must be the child or grandchild of a G.M.F.C. member who has been a member in good standing for at least five years. If the parent or grandparent is deceased, he/she must have been member for five years prior to death