The Lynde and Harry Bradley Foundation, Inc.

1241 N. Franklin Place

P.O. Box 92848

Milwaukee, WI 53202

Bradley Fellowship Program

The Foundation's Board of Directors awarded a grant in January 1991 for the Bradley Fellowship Program. The program, designed to cover five academic years beginning with 1992/93, offers support for the graduate and post-graduate students of up to 50 distinguished professors. Each professor is allowed to obtain up to $35,000 per academic year for his/her students.

50 prof X $35,000 X 5 yrs = $8,750,000 total award

The invitation letter and/or renewal letter sent to professors/ institutions describes the program as a five-year program beginning in academic year 1992/93, however annual application and approval is required for renewal.

The Foundation considers the entire length of the program (ie total grant amount) as a grant payable to be maintained on the books. The funds are noted as a pre-approved lump sum until "awarded" (assigned) to each institution upon approval of its annual renewal application.

Approved but unassigned Bradley Fellow grants are recorded in the PC- Gifts database as a single grant for each academic year. As funds are drawn for assignment to an institution, the lump sum of available funds is reduced by that amount.

After a period following the close of each academic year, the Foundation no longer needs to carry the balance which had been available for that specific year. That amount is processed similar to a grant cancellation, thus reducing the grants payable total.

A summary of the outstanding Bradley Fellows grant by academic year is summarized below:

Academic year	Amount

1994/95	(balance of $317,000 was cancelled during '95:

$282,000 in 7/95; $35,000 12/95)

1995/96	(balance of $95,250 cancelled December '95)

1995/96	$ 85,725

1996/97	$ 160,905

$ 246,630 at 12/31/96

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