Scholarship Committee Chair:

The Stephen Bufton Memorial Education Fund (SBMEF) is the national scholarship fund of the American Business Women's Association.  SBMEF is named in memory of Stephen Bufton, son of Ruth and Hilary A. Bufton Jr., founder of ABWA.

Established in 1953, the fund's objective is to help women achieve their business or professional goals through education.   Since its inception, SBMEF has awarded more than 13,000 scholarships totaling more than $12.5 million.

The fund is divided in half.  One half is for outright scholarship grants; the other half is for interest free loans.  At the start of each fiscal year, all money in the fund is divided equally between the two fund portions.  On the last day of each fiscal year, all money allocated, but not awarded for grants or loans, is combined with all money received during the preceding 12 months, and again divided between the two portions of the fund.

SBMEF is nonprofit, administered by the Association's National Board of Directors, who serve as trustees and the selection board.   The trustees determine the dollar amount of all SBMEF scholarships.  Any chapter is eligible to sponsor candidate(s) for a loan and grant if it contributed to the fund in the previous year.

Any chapter that contributes a minimum of $500 to SBMEF the previous year may participate in the Business Skills Development Grants Program.  This program was created for women who want to update their skills and knowledge without enrolling in a degree program.

In addition to the outright grants and interest free loans (both academic and business skill development) for which chapter sponsorship is required, the trustees also may authorize additional special scholarships.   Candidates for special scholarships need not be sponsored by a chapter and information about the scholarship is mailed to designated universities each year.

The $3,000 President's Scholarship and the Glorine Tuohey Memorial Scholarship for $3,000 are awarded annually.  The $10,000 Ruth H. Bufton Scholarship is awarded each odd-numbered year; the $10,000 Hilary A. Bufton Jr. Scholarship is awarded each even-numbered year.  Corporate scholarships are awarded as funds are received.  To qualify for a scholarship designated with its name, a business must make a contribution of at least $5,000, but contributions of any amount are accepted and appreciated.

The Chapter Special Scholarship Program allows chapters to customize a scholarship that will return money to the community where it was generated, and to provide opportunities for greater community visibility.

SBMEF was exempted from income taxes by the U.S. Treasury Department on June 21, 1963, and has been declared a public foundation.   As a public foundation, it has the same tax status - 501(c)(3) - as public schools, churches and community funds.  Contributions to SBMEF are fully tax deductible within allowable limits.

Voluntary contributions from ABWA chapters form the foundation of the national scholarship fund.  SBMEF may be the recipient of a bequest of the beneficiary of a life insurance policy.  Contributions also may come from individuals, corporations, foundations, grants, sponsorships, cooperative organization efforts, funding through corporate advertising and other budgets.

Make checks payable to the Stephen Bufton Memorial Education Fund and send directly to ABWA National Headquarters, 9100 Ward Parkway, P.O. Box 8728, Kansas City, MO 64114-0278.

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