Joseph R. Hardiman Scholarship Fund

The purpose of this fund is to provide support for scholarships for students enrolled at the University of Maryland Francis King Carey School of Law. Scholarships are awarded based on academic achievement and financial need. Preference is given to students pursuing joint degrees in the School of Law and the Masters in Business Administration program at the University of Maryland College Park or the Johns Hopkins Carey Business School.

If no acceptable candidate meeting the preferred criteria is available in any academic year, then preference will be given to students who were undergraduate business or economics majors at the University of Maryland College Park. The recipient(s) will be known as the Joseph R. Hardiman Scholar.

On June 1, 2011, the Memorandum of Understanding was amended to make the fund a quasi-endowment as directed by the donor. Regardless of any contrary policies or procedures in determining the spendable income generated by the fund, the Foundation will not take into account the fact that the Fund is an “Underwater Fund”, defined as a fund with current market value less than the sum of all contributions to the fund, and the percentage of Fund value available as spendable income for each year will be the same as the percentage of fund value available as spendable income with respect to other funds that are not underwater funds.