Cogdell Insurance Agency

The Frank & Wilma Cogdell
Memorial Scholarship Fund

     The Frank & Wilma Cogdell Memorial Scholarship Fund was established to provide a helping hand to needy students who want to further their education.  Even though they didn't have children of their own, they had a compassion for children and their education.  They were Godparents to Brandy and Jennifer Jenkins, who they loved dearly.

     They had a reputation as good, hard-working and honorable people who gave a helping hand to those in need.  Therefore, it is only fitting that this fund be established in their memory, as a reminder of their life and to continue their good name.

     The Frank & Wilma Cogdell Memorial Scholarship is made with the following guidelines:

1. Children or grandchildren of board members are ineligible for this scholarship.
2. Students who have adequate financial means to further their education are not eligible for this scholarship.
3. Drug and alcohol abuse disqualifies any applicant and voids any awarded scholarship.
4. The funds are to be invested by Darryl Presley at First Bank, Lexington, TN.
5. The first Frank & Wilma Cogdell Memorial Scholarship shall be awarded in the 2015 school year.
6. Two $750.00 scholarships are to be awarded each year as long as the total value of the scholarship fund remains above $25,000.  Should the amount be less than $25,000 remaining in the fund then the Board of Directors shall have the right to lower the number of awards and the dollar amount
7. The Fund shall always be know as the Frank & Wilma Cogdell Memorial Scholarship Fund and awarded as such.
8. One of the awards must be to a minority student.  Should no minority student apply within the set time limit and meet Fund criteria, then the Board shall extend the time period by 2 weeks and proper notificaiton shall be placed in the local newspaper, announcing this grace period for minority applicants to apply.  If no qualified minority student applies, then the Board is free to award the scholarship to the most deserving candidate, regardless of race.
9. The Funds shall be from

•       Initial $50,000 donation from the Estate of Wilma S. Cogdell
• Any donations made to further this fund
• Possible growth of the fund from any investments

Board of Directors Information



THE BOARD OF DIRECTORS SHALL BE
COMPRISED OF: 

1.  Principal of Lexington High School
2.  Minority Educator
3.  Guidance Counselor at Lexington High School
4.  Local Bank Financial Advisor
5.  Member of the Clergy of Lexington/Henderson County
 

(A.)  Principal of Lexington High School.                         

(B.)  A Minority Educator, who is employed at Lexington High School.  (May be a Henderson County Employee if necessary.        

(C.)  Guidance Counselor at Lexington High School         

(D.)  Local Bank Financial Advisor (Preferably a Security Investment Banker)         

(E.)  A Member of the Clergy of Lexington or Henderson Co., TN. (Each Clergy appointee shall serve for 3 years and will rotate between white and minority Ministers.)

Duties of Board Members

 It is the duty of The Lexington High School Principal and Guidance Counselor to make this scholarhip fund and its application available to students of Lexington High School.

• The Board has sole authority over the timing of award and disbursement of scholarship funds.  (examples:  may choose 2^nd semester over 1^st. or may disburse funds directly to the college.)
• Board meetings shall be conducted as Parliamentary Procedure dictates with the Lexington High School Principal as Chairman.
• The Board Chairman has the right to appoint new members to fill any vacancies with the majority of the Board concurring.
• It is the duty of the Board to conduct any business relating to this Fund and to insure that the Guidelines are always fulfilled as noted.
• Should the Board knowingly violate the Guidelines that have been set forth, then the Superintendents of The Henderson County School System and The City of Lexington School System have the right to name a new Board.
• There will be no money or compensation of any form paid to Board Members or anyone else in association with this fund.  There are no paid employees whatsoever.

Investments

Funds for all scholarships are invested with Mr. Daryl Presley at First Bank in Lexington, TN.  He has done an excellent job managing these funds.  As of February 1, 2018, the scholarship funds have a total value of $297,182.13.