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HOPE SCHOLARSHIP
RI Branch - Hope Scholarship

Hope Scholarship Committee

The Hope Scholarship was established with the merger of the Massachusetts Chapter and the Rhode Island Chapter on January 1, 2013. For a period of five (5) years, the Hope Scholarship shall provide financial support to RI Branch Candidates taking Appraisal Institute courses leading to Appraisal Institute designations. The Hope Scholarship will sunset on December 31, 2017. The total expenditure of scholarship funds for the Hope Scholarship fund cannot exceed $30,000 over the five-year period.

The Hope Scholarship Committee will administer a Hope Scholarship program through the Hewitt Fund.  The members of the Hope Scholarship committee are George K. Demopulos, SRA, Bradford Hevenor,  and  William J. McGovern, SRA.

Applicant Eligibility

1. Candidate for Designation of Rhode Island Branch Chapter in Good Standing.

  • Holds said status in the Appraisal Institute;
  • Business activities subject to USPAP;
  • Membership not in suspension;
  • Not subject to disciplinary procedures;
  • Not subject to peer review;

2. Rhode Island Branch Designated Members declaring themselves as candidates for additional AI designations   may also apply for a scholarship when pursuing an additional designation.

3. Even though you may have received a Hope Scholarship in the past, you could be eligible to receive an additional award.

Awards

  • A Scholarship shall not exceed $500.
  • Notice of the Committees award decision will be sent by email or by telephone.
  • Applications for Scholarships shall  be made upon applicants upon completion of a course.  Exceptions to this regulation may be considered by the Committee.
  • The Hope Scholarship Committee will respond to the applicant on demand.
  • Since many of the courses fill up at an early date, the Committee recommends that all applicants reserve space in their desired course at an early date.
  • Courses offered by the chapter or the National Office will be eligible for scholarship consideration and awards in accordance with the Hope Scholarship fund directives

Eligibility and Requirements

Applicants for the scholarship must:

  1. Submit a Completed Application (download here)
  2. Be a member in good standing of the Rhode Island Branch of the Massachusetts and Rhode Island Chapter of Appraisal Institute
  3. Be current with national and chapter dues and be current with Standards and Ethics course requirements for the Appraisal Institute
Application Process

In addition to the application form, the application must include:

1. A brief (500 words or less) essay stating why the applicant should be awarded the scholarship. This essay can highlight such factors as professional goals and experience, financial need, involvement with the Rhode Island Branch, commitment to achieving a designation, etc.

2.  A list of Appraisal Institute courses taken to date

3.  A resume or statement of qualifications (including current appraisal licenses held)

4.  All necessary receipts/transcripts to show proof of attending/passing the course

5.  Submit a letter of recommendation

6.  Other documentation to support the application

All applications will be reviewed on demand.  The Hope Scholarship Committee of the Rhode Island Branch of the Massachusetts and Rhode Island Chapter will determine recipients based on funding available and the applications received.

Eligible Courses for a Hope Scholarship

Eligible MAI Designation Courses
General Appraiser Report Writing and Case Studies
Advanced Income Capitalization                
Advanced Market Analysis and Highest and Best Use        
Advanced Concepts & Case Studies or equivalents
Quantitative Analysis      

View the Complete List of MAI Requirements Here
           

Eligible SRA Designation Courses
Residential Market Analysis and Highest & Best Use        
Real Estate Finance, Statistics, Valuation Modeling        
Advanced Residential Applications and Case Studies/Part 1     
Advanced Residential Report Writing/Part 2   

View the complete list of SRA Requirements Here     

Eligible AI-GRS (Appraisal Institute General Review Specialist) Designation Courses
Review Theory—General
Review Case Studies—General (available in fall 2014)


Eligible AI-RRS (Appraisal Institute Residential Review Specialist) Designation Courses
Review Theory—Residential
Review Case Studies—Residential (available in fall 2014)

View the complete list of Review Designation Requirements Here

Demonstration of Knowledge Requirement
The Committee is pleased to announce the following scholarships opportunities for Chapter Candidates for Designation. 
The Hope Committee will award scholarships to candidates for designation fulfilling their Appraisal Institute Demonstration Appraisal Report requirement.
 
Scholarships are available as follows:

In order to receive the Capstone scholarship:
  • Applicants must be Candidate for Designation in good standing with the Massachusetts and Rhode Island Chapter of the Appraisal Institute, including completion of the USPAP and Ethics requirements and be enrolled in the Candidate for Designation Program.
  • MAI Candidates must have completed the required MAI courses.

 All applications are submit to review of the Hope Scholarship Committee.