THE ROSZTOCZY FOUNDATION

The Rosztoczy Foundation has been classified by the Internal Revenue Service as a private foundation, exempt under section 501(c)(3) of the Internal Revenue Code. Donations to the Foundation are tax deductible to the extent that no goods or services are received in return. Funds from the Foundation are used solely for charitable purposes. In addition, the Rosztoczy Foundation has been approved by the Internal Revenue Service to award scholarships for study or research at American institutions. Thus, the Rosztoczy Foundation Scholarship Program was created.

ROSZTOCZY FOUNDATION SCHOLARSHIP PROGRAM

The Rosztoczy Foundation Scholarship Program (RFSP) has been established to financially help bright, young students and scientists from Hungary come to the United States for a period of one year to study at a university or research institute. After one year of study, the students will return to Hungary to continue their education or begin their careers. Students are selected from a wide variety of academic fields of study, i.e., science, medicine, engineering, business, humanities, etc. In addition to their formal studies, the students will also learn about the American way of life, the American people, American democracy, American businesses, enterprises, and managerial style. Upon returning to Hungary these students will be able to use what they have learned in their particular field of interest. They will also be able to help others better understand the American ideas and be good will ambassadors for America.

SUPERVISION OF SCHOLARSHIPS AND GRANTS

It is anticipated that all scholarship funds will be paid directly to the hosting institution provided that such institution agrees to use these funds for the benefit of the Rosztoczy Foundation scholar. Travel money will be paid directly to the student from the Foundation. If the university prefers that the Foundation pay the money directly to the scholar, this can be done. In such instances, the scholarship recipient must agree to provide the Rosztoczy Foundation with a written paper about the research done during the year. This paper must be sent within sixty days of the conclusion of the year of study and signed by the professor or mentor. The Foundation will inform the recipient of this requirement in the letter of award.

FILES

The Administrative Trustees of the Rosztoczy Foundation will keep a file on every recipient of a scholarship. Such file will consist of the candidate's application and all supporting documents, a record of the action taken on the application, all communications with the scholar or regarding him/her, summary of research and any publications resulting from the funded research.