USBC SMART Scholarship Funds transferred to new independent corporation

    05/06/10

    USBC News

    USBCLogow.jpgThe United States Bowling Congress has created a new corporation dedicated to the management, protection and promotion of youth bowling scholarships.

    All funds in the USBC SMART (Scholarship Management and Accounting Reports for Tenpins) program have been transferred to the new entity called SMART Bowling Scholarship Funding Corporation.

    This new corporation is financially and legally independent of USBC, but will continue to use the SMART name. All scholarships previously earned through SMART remain in place with all benefits and eligibility protection for recipients continuing.

    USBCJeffBoje.jpg"Bowling scholarships can be a fantastic way to attract young people to our sport," USBC President Jeff Bojé (pictured right) said. "We believe creating an independent corporation supervised by board members with bowling expertise and a financial background will build a new level of trust in SMART and lead to greater attention and growth of youth scholarships."

    The SMART Bowling Scholarship Funding Corporation has three directors on the board: Wally Hall, Pasadena Md., Steve Moehrle, St. Louis, Mo. and Sandy Hansell, Southfield, Mich. A primary objective for the board will be to use SMART for the nationwide promotion of youth bowling and to strengthen the entire bowling industry.

    Hall, who will serve as Chairman, holds a degree from Harvard Business School and is currently a director on the Board of the International Bowling Museum and Hall of Fame and Bowlers to Veterans Link charity. He is a former president of the Bowling Proprietors' Association of America and has 50 years of industry business experience including serving as President and CEO of Fair Lanes Inc. when it was the largest independent center chain in the country.

    Moehrle holds a Ph.D. in business from Indiana University and serves as the leadership council distinguished scholar in accounting at the University of Missouri-St. Louis. Before entering the academic profession, he was a member of the Ernst & Young audit staff and accounting policy officer at Citicorp Mortgage, Inc. Moehrle bowled competitively for highly-regarded collegiate teams at Missouri-St. Louis and Indiana. He is currently member of the USBC Board of the Directors with a term ending in August.

    Hansell holds a law degree from Harvard and has been active in the bowling industry since becoming a center owner in the 1970s. He is the founder of Sandy Hansell and Associates, Inc., a national firm dedicated to brokering and valuing bowling centers, along with tax planning and financial consulting for bowling proprietors.

    "The mission of the new corporation is to be a trusted custodian of scholarship funds, bring more attention to the benefits of using SMART and continue providing a service that protects the interest of young people," Hall said. "SMART assets will be professionally managed and the focus will be on safety and preservation of principal as well as effective and efficient administration with complete transparency."

    The SMART program continues to be the only bowling scholarship management program providing full protection of a student-athlete's eligibility status. Administrative services will continue to be provided by USBC. Scholarship recipients and providers should notice no change in operational procedures related to the program.