Fundraising Initiative Encourages Diversity in the Actuarial Profession

Since 1977, the mission of the CAS/SOA Joint Committee on Minority Recruiting has been to support the education of qualified minority students who have an interest in pursuing an actuarial career. The committee does this by providing scholarships and by funding summer education programs for minority students.

Funds for minority programs come largely from donations, but a new fund-raising initiative has been developed by Contingencies, the American Academy of Actuaries' bimonthly magazine. Contingencies has signed an agreement with bookseller Amazon.com to allow readers to purchase books directly through the Contingencies Web Site, www.contingencies.org. Under the deal, Contingencies receives 15 percent of the price of books reviewed or recommended in the magazine and 5 percent of the price of all other books and CDs purchased. As an investment in the future of the profession, Contingencies will contribute 25 percent of all revenues earned to the work of the CAS/SOA Joint Committee on Minority Recruiting.

The committee is excited about the opportunity for increased revenue through this initiative. Committee chairperson Nelson Strom commented, "As proud as I am of the committee's work, the need is greater than our current resources. That is why I make a personal appeal to all actuaries to do their shopping for books and CDs through www.contingencies.org."

To participate in the initiative, go to www.contingencies.org and click on "Books." From the Books page, select a reviewed or recommended book or click on the Amazon logo at the bottom of the page. This puts you in the Amazon.com virtual bookstore, where you can browse or make a purchase right away. Every book or CD bought will provide additional money for the actuarial profession's minority programs, and participation costs no more than the price of your purchase.

In 1998, the committee awarded $29,500 in student scholarships. Of the 42 applicants, 26 received tuition grants and an exam waiver and 16 received exam waivers and/or calculators. In addition, the committee awarded funds to summer actuarial programs at Howard University and Illinois State University. This year, the committee has expanded its commitment to college-sponsored summer programs and awarded funding to programs at Howard University, Illinois State University, University of Louisville, and Temple University. These programs expose high school students with high mathematics scores to the actuarial profession through courses in math applications, computer literacy, and visits from practicing actuaries.

Individuals or companies wishing to make a direct contribution to the Joint Committee on Minority Recruiting should contact Mike Boa at the CAS office at mboa@casact.org.