William Searls Scholarship Foundation

The William Searls Scholarship Foundation is a nonprofit organization established to provide educational support to students in Maine, USA. It is primarily known for awarding scholarships to students from Southwest Harbor who have graduated from Pemetic Elementary School and Tremont Elementary School[2].

History and Purpose

Founded in 1954, the foundation honors the legacy of William Thomas Searls, a distinguished alumnus of Pemetic High School who graduated with honors in 1948[5]. The foundation's mission, although not explicitly stated, is to assist students from these specific schools by offering them scholarships, thereby fostering education and community development in the region[2].

Financial Overview

As of 2023, the William Searls Scholarship Foundation reported a revenue of $19.9 thousand, while its total expenses were $23.2 thousand[3]. The foundation managed assets valued at approximately $415 thousand, with no liabilities reported for the same year[3]. In 2023, the foundation distributed a total of $18 thousand in grants[1].

Activities and Impact

While specific details about the foundation's activities beyond scholarship awards are not widely documented, its focus on supporting students in Southwest Harbor reflects a commitment to local educational development. The scholarships serve as a significant source of financial aid for students transitioning to higher education, recognizing academic achievement and potential.

Governance and Structure

The First National Bank acts as a trustee for the William Searls Scholarship Foundation[2]. This arrangement underscores the foundation's reliance on professional management to oversee its financial and operational aspects.

Despite being a small, local organization, the William Searls Scholarship Foundation plays a vital role in its community by fostering educational opportunities and honoring the legacy of William Searls.