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2006-2007 Annual Report

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2006-2007 Annual Report

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Page 1: 2006-2007 Annual Report
Page 2: 2006-2007 Annual Report
Page 3: 2006-2007 Annual Report

Year Founded: 1994

Mission Statement: Honoring and inspiring academic excellence and engaged citizenship for a lifetime.

Total Membership: 569,645

NSCS Pillars: Scholarship, Leadership Service

Number of New Members for 2006–2007 65,992

Number of Chapters: 228

Page 4: 2006-2007 Annual Report

� Annual Report 2006–2007

Board of Directors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .03

Letter from the Chair of the Board of Directors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .04

NSCS Overview . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .05

NSCS Chapters . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .06

Member Demographics . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .08

NSCS Finances . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .09

NSCS Programs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .15 NSCS Summit 2007 15 NSCS Convention 2007 15

NSCS Scholarships . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .17 Merit Award Winners 2006 17 Scholar Abroad 17 Scholar at Sea 18 NSCS-GEICO Graduate School Scholarships 18 Integrity Scholarship 18 The Distinguished Scholars Program 18

International Scholar Laureate Program . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .19

National Leadership Council . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .20

Scholar Ambassadors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .21

Chapter Achievements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .22 Star Status Awardees 22 Planning for College Success 22 Chapter Achievements 22

Member Achievements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .24

NSCS Partners . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .25

Contents

Page 5: 2006-2007 Annual Report

�Annual Report 2006–2007

Board of Directors

Ralph Johnson, Ph .D . ChairAssociate Dean of StudentsThe Johns Hopkins UniversityBaltimore, Maryland

William Ziegler Vice ChairManaging DirectorGlobal Head of Talent AcquisitionUBS Investment BankNew York, New York

Susan HoffPresident and CEOChildCareGroup Dallas, Texas

Mary Stuart HunterAssistant Vice ProvostUniversity 101 Programs and The National Resource Center for the First-Year Experience and Students in TransitionUniversity of South CarolinaColumbia, South Carolina

Dave JosePresident, 2006—2007 National Leadership CouncilProvidence College, class of 2007Providence, Rhode Island

Stephen E . LoflinExecutive DirectorThe National Society of Collegiate ScholarsWashington, D.C.

Rodney McClendonChief of Staff, Office of the PresidentTexas A&M UniversityCollege Station, Texas

Derek van BeverChief Research OfficerCorporate Executive BoardWashington, D.C.

Jenny WangExecutive Vice President, 2006—2007 National Leadership CouncilStony Brook University, class of 2007Stony Brook, New York

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� Annual Report 2006–2007

Letter from the Chair of the Board of Directors

As I prepare to conclude my nine-year tenure on the board of directors for The National Society of Collegiate Scholars, I reflect on a very exciting time in the organization’s existence—the beginning. When I joined the board in 1999, there were 43 chapters. Eight years later, we are proud to have more than 500,000 lifetime members at more than 225 chapters on campuses in all 50 states, the District of Columbia and Puerto Rico.

Fiscal Year 2007 certainly had its challenges, but we enter Fiscal Year 2008 a stronger and more vibrant organization than ever before. As the joining habits of college students continue to evolve, NSCS has shown its flexibility and willingness to adapt to the needs and preferences of our members without compromising the pillars on which the Society was founded in 1994—scholarship, leadership and service. This ability to change with the times will keep NSCS relevant in the lives of our members around the world and thus help them make a difference.

This year we saw the third successful year of the NSCS Distinguished Scholars Program. Members spent eight weeks in Washington, D.C. or Boston, where they earned college credit while interning in the field of their choice. We also had our first NSCS Member Convention and 12th annual Leadership Summit, bringing together more than 400 members and officers from around the country. The Convention gave members an opportunity to network and meet representatives from employers of all types, including the CIA, Ernst & Young, and Deloitte & Touche. A host of graduate schools were also represented, including Princeton, Columbia and the University of Pennsylvania.

As NSCS enters its 15th year, we have seen the organization grow from one campus to nationwide. Our members are some of the brightest students in the world who make a difference on their campuses and in their communities. Members have gone on to be teachers, doctors, and lawyers. They have gone on to be Miss America, to work for Donald Trump, and to work for NASA.

Without a doubt, this has been the most successful year in NSCS history. As we look toward the future, we are excited about the promise and possibility ahead of us.

Ralph Johnson, Ph.D.Associate Dean of StudentsThe Johns Hopkins University

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�Annual Report 2006–2007

Members get to interact with others who are as academically successful as they are, via on-campus chapter meetings and events. NSCS also helps members with the cost of their education via scholarships. The scholarships range from a $1,000 Merit Award scholarship for new members, to study abroad and graduate school scholarships.

Leadership opportunities include participation as a chapter officer, in positions ranging from President to Executive Vice President, Treasurer and Vice President of Public Relations. Members can also gain leadership experience through the National Leadership Council, a group of nationally-elected NSCS members who represent members’ needs to the national office. Newly-graduated chapter officers can also participate in the Scholar Ambassador program, which uses the former officers’ expertise to help chapters.

NSCS also provides members with career and graduate school opportunities through its partners. The partners, whose areas range from finance to education and international service, send members targeted e-mails for internships, jobs and graduate school. The partners also participate in the NSCS Convention’s exhibitors’ fair.

NSCS fulfills the service aspect of its mission via the Planning for College Success Program (PFCS). PFCS is NSCS’ signature mentoring program for middle school students, wherein local chapters mentor local middle school students and encourage them to plan for college.

NSCS Overview

The National Society of Collegiate Scholars (NSCS) is a 501 (c)(3) nonprofit honor

society for first- and second-year college students who are in the top 20 percent of

their class with a minimum GPA of 3.4.

NSCS values scholarship, leadership and service. These values form the three pillars of the Society. Integrity is the basis for these pillars, because it is the foundation of all academic and professional excellence, and is crucial both for NSCS as an organization and its members. NSCS provides its members with scholarship, leadership and career opportunities.

Page 8: 2006-2007 Annual Report

� Annual Report 2006–2007

NSCS Chapters

American University

Appalachian State University

Arizona State University

Arkansas State University

ASU at the Polytechnic Campus

Auburn University

Ball State University

Baylor University

Boise State University

Boston University

Brandeis University

Brigham Young University

Butler University

California Polytechnic State University, San Luis Obispo

California State University, Dominguez Hills

California State University, Fullerton

California State University, Long Beach

California State University, Northridge

Central Michigan University

Clemson University

College of Charleston

Colorado State University

Columbia College

Columbus State University

Cornell University

Creighton University

Dartmouth College

DePaul University

DePauw University

Drexel University

East Carolina University

Eastern Illinois University

Embry-Riddle Aeronautical University

Florida A&M University

Florida Atlantic University

Florida International University

Florida State University

Fort Hays State University

George Mason University

Georgetown University

Georgia Institute of Technology

Georgia State University

Howard University

Humboldt State University

Idaho State University

Illinois State University

Indiana State University

Indiana University Bloomington

Iowa State University

James Madison University

Kansas State University

Keene State College

Kennesaw State University

Kent State University

La Salle University

Lehigh University

Lewis University

Louisiana State University

Loyola Marymount University

Loyola University Chicago

Marshall University

Massachusetts Institute of Technology

Miami University

Michigan State University

Middle Tennessee State University

Mississippi State University

Missouri State University

Monmouth College

Montana State University - Bozeman

Morehouse College

Murray State University

New Mexico State University

New York City College of Technology

North Carolina State University

North Dakota State University

Northeastern University

Northern Arizona University

Northern Illinois University

Northwest Missouri State University

Oklahoma State University

Oregon State University

Pomona College

Portland State University

Prairie View A&M University

Princeton University

Providence College

Purdue University

Radford University

Regis University

Rhode Island College

Rice University

Robert Morris University

Rollins College

Rutgers, The State University of New Jersey

Saginaw Valley State University

Saint Joseph’s University

Saint Louis University

Saint Xavier University

Santa Clara University

Seton Hall University

Southeastern Louisiana University

Southern Methodist University

Southern Utah University

Spelman College

St. Cloud State University

Stephen F. Austin State University

Stony Brook University

Syracuse University

Temple University

Texas A&M University

Texas Christian University

Texas Southern University

Texas Tech University

Texas Woman’s University

The College of William & Mary

The Cooper Union

The George Washington University

The Johns Hopkins University

The Ohio State University

The Pennsylvania State University

The University of Akron

The University of Alabama

The University of Alabama at Birmingham

The University of Arizona

The University of Georgia

The University of Iowa

The University of Kansas

The University of Maine

The University of Mississippi

The University of New Mexico

Page 9: 2006-2007 Annual Report

�Annual Report 2006–2007

NSCS Chapters

The University of North Carolina at Chapel Hill

The University of North Carolina at Charlotte

The University of North Carolina, Asheville

The University of Oklahoma

The University of South Dakota

The University of Tennessee

The University of Tennessee at Chattanooga

The University of Texas at Arlington

The University of Texas at Austin

The University of Texas at El Paso

The University of Texas at San Antonio

The University of Toledo

The University of Utah

The University of Vermont

The University of Wisconsin, Madison

Towson University

Trinity University

Truman State University

Tulane University

University at Albany

University at Buffalo

University of Alaska Anchorage

University of Alaska Fairbanks

University of Arkansas

University of California, Berkeley

University of California, Davis

University of California, Irvine

University of California, Los Angeles

University of California, Riverside

University of California, San Diego

University of California, Santa Barbara

University of California, Santa Cruz

University of Central Arkansas

University of Central Florida

University of Central Missouri

University of Cincinnati

University of Colorado at Boulder

University of Connecticut

University of Dayton

University of Delaware

University of Denver

University of Evansville

University of Florida

University of Hawaii at Manoa

University of Houston

University of Idaho

University of Illinois at Chicago

University of Illinois at Urbana-Champaign

University of Kentucky

University of Louisville

University of Mary Washington

University of Maryland

University of Maryland, Baltimore County

University of Miami

University of Michigan

University of Minnesota at Twin Cities

University of Missouri-Columbia

University of Nebraska-Lincoln

University of Nevada, Las Vegas

University of North Dakota

University of North Florida

University of North Texas

University of Northern Colorado

University of Northern Iowa

University of Oregon

University of Pennsylvania

University of Pittsburgh

University of Puerto Rico

University of Rhode Island

University of Rochester

University of San Diego

University of San Francisco

University of South Alabama

University of South Carolina

University of South Florida

University of Southern California

University of Southern Indiana

University of St. Thomas

University of Virginia

University of Washington

University of West Georgia

University of Wyoming

Utah State University

Villanova University

Virginia Commonwealth University

Virginia Polytechnic Institute and State University

Washington State University

Washington University in St. Louis

Wayne State University

West Virginia University

Western Connecticut State University

Western Kentucky University

Western Washington University

Wichita State University

Willamette University

Winona State University

Wright State University

Youngstown State University

New Chapters for 2006-2007

Columbia College

University of South Alabama

Northern Arizona University

University of Southern California

Youngstown State University

The University of Toledo

University of Alaska- Anchorage

Page 10: 2006-2007 Annual Report

� Annual Report 2006–2007

Member Demographics

NSCS’ members are a diverse group. The graphs below illustrate NSCS’

membership demographics.

Caucasian46%

Unspecified29%

Asian/Pacific Islander9%

African-American 5%

Hispanic/Latino 5%

Other 5%

American Indian 1%

Women65%

Men35%

Page 11: 2006-2007 Annual Report

�Annual Report 2006–2007

NSCS Finances

Report of Independent Auditors

Board of DirectorsNational Society of Collegiate ScholarsWashington, DC

We have audited the accompanying statement of financial position of the National Society ofCollegiate Scholars as of June 30, 2007 and the related statements of activities, and cash flowsfor the year then ended. These financial statements are the responsibility of the Society'smanagement. Our responsibility is to express an opinion on these financial statements based onour audit. The financial statements of the Society as of June 30, 2006 were audited by otherauditors whose report dated January 12, 2007, on those financial statements included anexplanatory paragraph expressing substantial doubt about the Society's ability to continue as agoing concern.

We conducted our audit in accordance with auditing standards generally accepted in the UnitedStates of America. Those standards require that we plan and perform the audit to obtainreasonable assurance about whether the financial statements are free of material misstatement.An audit includes consideration of internal control over financial reporting as a basis fordesigning audit procedures that are appropriate in the circumstances, but not for the purpose ofexpressing an opinion on the effectiveness of the Society's internal control over financialreporting. Accordingly, we express no such opinion. An audit also includes examining, on a testbasis, evidence supporting the amounts and disclosures in the financial statements, assessing theaccounting principles used and significant estimates made by management, as well as evaluatingthe overall financial statement presentation. We believe that our audit provides a reasonable basisfor our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects,the financial position of the National Society of Collegiate Scholars at June 30, 2007, and thechanges in its net assets and its cash flows for the year then ended in conformity with accountingprinciples generally accepted in the United States of America.

Falls Church, VirginiaSeptember 21, 2007

Page 12: 2006-2007 Annual Report

10 Annual Report 2006–2007

NSCS Finances

Statements of Financial Position June 30, 2007 2006

Assets Cash and cash equivalents $ 743,456 $ 345,783 Accounts receivable- dues 239,325 249,470 Accounts receivables - other 164,766 19,840 Prepaid expenses 151,788 136,450 Inventory 29,142 30,424 Fixed assets, net 93,911 268,099 Deposits 3,500 31,235

Total assets $ 1,425,888 $ 1,081,301

Liabilities and net assets Accounts payable and accrued expenses $ 789,838 $ 954,744 Deferred revenue 412,827 670,556 Deferred rent - 8,279 Capital lease obligations 23,420 28,440

Total liabilities 1,226,085 1,662,019

Net Assets Unrestricted net assets 179,803 (600,718) Temporarily restricted net assets 20,000 20,000 Total net assets 199,803 (580,718)

Total liabilities and net assets $ 1,425,888 $ 1,081,301

Statements of Activities

Change in unrestricted net assets Revenue Membership dues $ 4,950,120 $ 3,905,225 Conferences, seminars and workshops 139,646 142,255 Other revenues 1,182,575 915,339 6,272,341 4,962,819 Net assets released from restrictions 20,000 -

Total revenue 6,292,341 4,962,819

Expenses Program services: Membership 3,016,356 3,367,205 Programs 1,869,990 2,012,900 Total program services 4,886,346 5,380,105

Supporting services: General and administrative 625,474 476,362

Total expenses 5,511,820 5,856,467

Change in unrestricted net assets 780,521 (893,648)

Page 13: 2006-2007 Annual Report

11Annual Report 2006–2007

NSCS Finances

Change in temporarily restricted net assets Contributions 20,000 20,000 Net assets released from restrictions (20,000) - Change in temporarily restricted net assets - 20,000 Change in net assets 780,521 (873,648) Net assets, beginning of year (580,718) 292,920 Net assets, end of year $ 199,803 $ (580,728)

Statements of Cash Flows

Cash flow from operating activities Change in net assets $ 780,521 $ (873,648) Adjustments to reconcile change in net assets to net cash provided by (used in) operating activities: Depreciation and amortization 177,530 211,469 Changes in operating assets and liabilities: Accounts receivable (134,781) 154,998 Inventory 1,282 (18,521) Prepaid expenses (15,338) (28,185) Deposits 27,735 - Accounts payable and accrued expenses (164,906) 81,975 Deferred revenue (257,729) 421,188 Deferred rent (8,279) (27,594)

Net cash provided by (used in) operating activities 406,035 (78,318)

Cash flow from investing activities Purchases of property and equipment (3,342) (37,600)

Net cash used in investing activities (3,342) (37,600)

Cash flows from financing activities Principal payments on capital lease obligations (5,020) (1,142) Borrowings under line of credit 1,331,000 - Repayments of borrowings (1,331,000) -

Net cash used in financing activities (5,020) (1,142)

Net change in cash and cash equivalents 397,673 (117,060)

Cash and cash equivalents, beginning of year 345,783 462,843

Cash and cash equivalents, end of year $ 743,456 $ 345,783

Supplemental cash flow information Interest paid $ 55,529 $ 37,056

Page 14: 2006-2007 Annual Report

1� Annual Report 2006–2007

NSCS Finances

Note A - Organization and Nature of Activities

National Society of Collegiate Scholars (the Society) is a publicly-supported not-for-profit organization, established to recognize and celebrate high achievement among first and second year college students in all academic disciplines, to encourage and promote high standards throughout the students’ college experience, and to foster an overall appreciation for the value of higher education. the Society receives its primary support from membership dues and secondary support from programs and services offered to members.

Note B - Summary of Significant Accounting Policies

Basis of Accounting The financial statements of the Society have been prepared on the accrual basis of accounting.

Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (GAAP) requires management to make assumptions, estimates and judgments that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue, support and expenses during the reporting period. Accordingly, actual results could differ from these estimates.

Income Taxes The Society has been granted exemption by the Internal Revenue Code (IRC) from federal income taxes under Section 501 (c) (3) of the code and applicable state regulations on income other than unrelated business income. In addition, NSCS has been determined to not be a private foundation as defined under section 509 (a).

Cash and Cash Equivalents The Society considers all demand deposits to be cash and cash equivalents. Throughout the year the Association may have cash and cash equivalents held by financial institutions in excess of the Federal Deposit Insurance Corporation (FDIC) coverage. Management does not consider the cash balances above the FDIC insured limit to be a significant credit risk

Membership Dues Dues consist of one-time fees paid by students who have met the Society’s eligibility requirements. Students become lifetime members of the Society upon admission. Membership dues are recognized as revenue when received by the Society, with amounts deferred to cover the expenses associated with diplomas and other items as detailed in the membership application. A receivable is recorded for payments received through the end of the month following the Society’s fiscal year-end.

Deferred Revenue Deferred revenue consists of meeting registration, exhibit fees, partnership income and Distinguished Scholars Program funds received in advance. Meeting registration and exhibit fees are recognized as income once the related event takes place.

Functional Allocation of Expenses The costs of providing the various programs and other activities of the Society are allocated based upon the functions they directly benefit or upon management’s estimate of the proportion of these costs applicable to each function.

Accounts Receivable Accounts receivable are stated at the amount management expects to collect from balances outstanding at year-end. Management closely monitors outstanding balances and writes off year-end balances that are deemed uncollectible. Delinquency of receivables is determined based on contractual terms and management’s review of aged balances. Based on an assessment of the credit history with customers having outstanding balances, management has concluded that losses, if any, on outstanding balances at year-end will be immaterial. Consequently, no allowance for doubtful accounts has been recorded.

Page 15: 2006-2007 Annual Report

1�Annual Report 2006–2007

NSCS Finances

Property and Equipment Property and equipment are recorded at cost. Property and equipment costing $500 or more is capitalized while lesser amounts are expensed. Depreciation is provided over the estimated useful lives of the assets ranging from three to seven years using the straight-line method. Maintenance and repair costs are charged to expense as incurred. Replacements and betterments are capitalized.

Contributions The Society records contributions and unconditional promises to give at fair value as unrestricted, temporarily restricted or permanently restricted support, depending on the existence and nature of any donor restrictions, including inherent time restrictions. When a time restriction ends or a purpose restriction is accomplished, temporarily restricted net assets are reclassified to unrestricted net assets and reported in the statement of activities as net assets released from restrictions. Donor restricted contributions with restrictions met in the same reporting period are reported as unrestricted support. Temporarily restricted net assets at June 30, 2007 and 2006 are for student scholarship awards.

InventoryInventory consists of program materials such as t-shirts, sweatshirts, mugs, honor cards and diploma frames. Inventory is valued at the lower of cost or market using the average cost method.

Reclassifications Certain 2006 amounts have been reclassified to conform with 2007 presentation.

Note C - Lease Commitment

The Society subleased office space and equipment from another association under an operating lease which originally expired September 30, 2006. The sublease called for monthly rent with fixed increases on each February 1st during the term of the sublease. Rent expense was recorded on a straight-line basis over the sublease term, resulting in a deferred rent liability at June 30, 2006. Upon expiration of the sublease agreement, NSCS signed a lease agreement occupying the same space through June 30, 2008. This sublease was terminated effective August 22, 2007, after the prime leasehold requested an early termination to coincide with their need for space. the Society entered into a new lease agreement with the National Park Foundation as of August 1, 2007, extending through December 30, 2011. Rent expense for the years ended June 30, 2007 and 2006 was $311,501 and $273,184, respectively.

The future minimum lease payments required under the office operating lease agreement as of June 30, 2007 are as follows:

Year Operating Lease 2008 $ 181,508 2009 156,887 2010 160,809 2011 164,829 $ 664,033

Note D - Property and Equipment

Property and equipment at June 30, 2007 and 2006 are as follows: 2007 2006 Equipment under capital leases $ 29,582 $ 29,582 Computer equipment and software 723,789 703,515 Furniture and fixtures 16,377 33,307

Total 769,748 766,404

Less: accumulated depreciation (675,837) (498,305) Property and equipment, net $ 93,911 $ 268,099 Depreciation expense was $177,530 and $211,469 for the years ended June 30, 2007 and 2006, respectively.

Page 16: 2006-2007 Annual Report

1� Annual Report 2006–2007

NSCS Finances

Note E - Capital Lease

the Society entered into capital lease agreements for equipment. As of June 30, 2007 and 2006, leased equipment included in property and equipment on the accompanying statements of financial position was as follows:

2007 2006 Cost $ 29,582 $ 29,582 Accumulated depreciation (6,162) (1,142) Net $ 23,420 $ 28,440

At June 30, 2007, the present value of future minimum payments related to the capital lease are as follows:

Year ending June 30

2008 $ 7,425 2009 7,425 2010 7,425 2011 5,568 Total minimum lease payments 27,843 Less: amount representing interest (4,423) Total principal obligation 23,420 Current portion of capital lease obligations (5,484) Noncurrent portion of capital lease obligations $ 17,936

Note F - Retirement Plan

the Society maintains a retirement plan that covers substantially all full-time employees who have attained the age of 21. The Plan provides for both employee and employer matching contributions. Employees can contribute through payroll deductions on a pre-tax basis, up to the amount allowable by the Internal Revenue Code. the Society contributes 3% of eligible compensation for all employees who have completed one year of full-time service and matches employee contributions up to an additional 3% of eligible compensation. For the years ended June 30, 2007 and 2006, retirement plan expense was $38,257 and $51,562, respectively.

Note G - Lines of Credit

the Society obtained a line of credit from a board member with a due date of May 31, 2007. The loan is collateralized by liens on the real property of the executive director and another individual associated with the Society. The interest rate is adjusted daily to the prevailing interest rate published in the Wall Street Journal, plus 1%. Repayment is to be made from a set amount of all individual dues payments received.

During fiscal year 2006, the Society obtained a $1,500,000 line of credit from a financial institution with a due date of June 30, 2006. Virtually all of the assets, and the revenue generated there from, were pledged as collateral against the loan. In addition, personal guarantees were provided by both the executive director and a former officer. Interest is paid monthly on outstanding balances and is calculated at the prime rate published in the Wall Street Journal plus 1.0%. Repayments are made from a percentage of membership dues received by the Society.

As of June 30, 2007 and 2006, there were no outstanding balances on either of the lines of credit.

Page 17: 2006-2007 Annual Report

1�Annual Report 2006–2007

NSCS Programs

NSCS Summit 2007

The NSCS Leadership Summit in Philadelphia took place on July 18—19, 2007. It was an opportunity for chapter officers to learn about new national policies and

participate in leadership development workshops. NSCS’ Member Experience team designed the workshops to help chapter officers improve recruitment, visibility and members’ NSCS experience. Several of these workshops included an idea-generating component to help improve member turnout to events.NSCS also unveiled its new Induction Convocation package. It included a customizable PowerPoint presentation, checklists and troubleshooting information. The presentation includes video clips of member testimonials, footage from the Summit and NSCS’ first national Convention. The package was sent to chapter officers across the country to help them prepare for the Inductions.

What I Learned at the Summit:“Over at Ohio State, we got people to attend events, but not as much we wanted. We will try the charity ball idea that I heard about here. Maybe we can do it during breast cancer awareness month.” Ziad Awartani, an NSCS officer at

The Ohio State University.

My Favorite Part of the Summit “I enjoyed meeting people the most. It was great to see people from all different walks of life, from places in America that I’ve never been to and probably will never see. “ Greg Zietlow, an NSCS officer at

Central Michigan University

Summit fact: 390 officers attended the NSCS Summit this year, an 11 percent increase from 2006

Page 18: 2006-2007 Annual Report

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NSCS Convention 2007

NSCS Convention 2007 took place in Philadelphia from July 20—21, 2007. The Convention was a chance for all NSCS members—officers, current students and alumni—to participate in workshops on professional and personal development, as well as network with their peers from across the United States. Highlights of the Convention included:

Keynote speakersThe Convention featured several prominent people from fields as varied as business, entertainment and politics. Pittsburgh social entrepreneur Bill Strickland spoke about helping poor people develop marketable skills. Former Miss America Ericka Dunlap spoke about following one’s dreams. Astronaut Chris Ferguson described the training and technology involved in making space flight possible. The Convention’s closing speaker was Dennis Walcott, New York City’s Deputy Mayor for Education and Community Development, who spoke about the importance of public service.

WorkshopsNSCS’ partners and affiliates conducted workshops for students on topics ranging from writing a resume to finding a government internship and improving presentation skills.

Career and networking exhibitors hallStudents got to interact one-on-one with employers and graduate school recruiters in the Exhibit Hall. The recruiters included Accenture, Deloitte & Touche, the British Council, Teach for America etc. Members also participated in networking receptions with the employers.

NSCS Programs

“The atmosphere was really friendly, more than I expected. It was a lot of cool people with high grades and great accomplishments. I got to interact with graduate schools and employers. I was looking for information on medical schools and I got that. “ Phong Chan Lieu University of Washington

“I enjoyed the speakers especially Bill Strickland. It was surprising to me because I live an hour from Pittsburgh but I’ve never heard of what he’s doing. He inspired me to incorporate more community service into our chapter.” Marie Rafa West Virginia University Executive VP of WVU

Page 19: 2006-2007 Annual Report

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Merit Award Recipients 2006

NSCS awarded $1,000 scholarships to 50 new members. Below is the a list of the 2006 recipients.

Fasika Aberra - University of Michigan

Santhana Krishnan Balaji - Louisiana State University

Stefanie Bednar - University of Denver

Nicole Roisin Benincasa - Virginia Polytechnic Institute and State University

Jose A. Brown - The George Washington University

Kristin Butler - University at Albany

Geneva Campbell - University of Pennsylvania

Sahba Charkhzarrin - Ball State University

Tyffany Chen - University of California, Los Angeles

Carla Maria Dams - Georgia State University

Sarah C. Dickes - University of Nebraska-Lincoln

Kristine Mee Yin Duong - University of California, San Diego

Natalie Ehalt - The University of Iowa

Echo Fallon - Arizona State University

Bynikini Frazier - The University of Georgia

Ettya Fremont - Wichita State University

Evyn Garner - Rollins College

Shatakshi Goyal - Boise State University

Lauren Hale - Northeastern University

Jeree Harris - The College of William & Mary

Melissa Hinton - University of Florida

Geri Howg - University of Minnesota, Twin Cities

Sunny S. Intwala - Rhode Island College

Melanie C. Jones - Howard University

Boyan Kelchev - University of San Diego

Amanda Krittenbrink - Oklahoma State University

James Kyriakedes - Miami University

Lyndsay Alexandra Langbehn - Purdue University

Sou Yoon Lee - Cornell University

Daniel Lim - The University of Vermont

Ka Yan Luk (Phyllis) - Dartmouth College

Tanya Lukasik - Stony Brook University

Hilda Orelu - University of Central Arkansas

Lauren M. Ouellette - Boston University

Charlene D. Rhinehart - DePaul University

Sara K. Riffert - University of Southern Indiana

Erin Rose - Middle Tennessee State University

Jordan M. Sarruda - Villanova University

Kristin Schouweiler - Winona State University

Andrea Victoria Sifuentes - The University of Texas at El Paso

Justin D. Sikes - DePauw University

Susan Sparrow - Pomona College

Christina Stamper - University of Virginia

Lejla Sudar - University of Washington

Jessica Tekippe - Iowa State University

Raymond Patrick Tolentino - Georgetown University

Bridget Ward - Montana State University-Bozeman

Karen Wong - University of California, Riverside

Lisa Dawn Zachary - The University of Tennessee

David Ziehr - The University of Wisconsin-Madison

NSCS Scholarships

NSCS helps many of its high-achieving members finance their college education

through scholarships. These scholarships cover various facets of a member’s university

experience, from a merit award scholarship to scholarships for studying abroad or

graduate school.

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Scholar Abroad

The NSCS Scholar Abroad scholarship funds one $5,000 award each fall and spring semester and one $2,500 award each summer. Recipients use this scholarship for a destination of their choice. Below is a list of 2006–2007 recipients.

Summer 2007Ilana Stol, University of Pittsburgh - Mongolia

Spring 2007Pat Kujawa, Montana State University-Bozeman

- Ireland

Fall 2006Jenny Hazlehurst, University of California, San Diego

- Botswana

Scholar at Sea

NSCS and the Semester at Sea program offer the Scholar at Sea scholarship, which helps students partially finance the Semester at Sea program. The program enables students to visit nearly a dozen countries while studying on a sailing campus. The University of Virginia academically sponsors this program and grants credit from more than 70 courses.

Semester at Sea and NSCS provide seven partial scholarships each year, including one $7,000 partial scholarship each fall and spring, as well as five $2,000 scholarships for the summer voyage. Below is a list of recipients from the past year.

Summer 2007Kaelin Browne, University of Virginia

Karen Nenno, University of Pittsburgh

Spring 2007Michael McClure, University of Colorado at Boulder

Fall 2006Natasa Milicevic, University of Pittsburgh

NSCS-GEICO Scholarships

NSCS’ commitment to help members fund their education continues past the undergraduate years. Through a partnership with GEICO, NSCS helps provide four graduate students with $5,000 scholarships to a graduate school of their choice. The following is a list of 2006’s recipients.

Tondra De used the scholarship toward a Ph.D. program in science education at the University of California, Los Angeles.

Timothy Dulaney used the scholarship toward a Ph.D. in particle physics at the California Institute of Technology.

Angela Borges is using the scholarship toward a Ph.D. in counseling psychology at Boston College.

Daniel MacArthur, is using the scholarship toward a veterinary medicine degree at Michigan State University.

Integrity Scholarship

NSCS awards up to three $1,000 scholarships to members who demonstrated a true commitment to integrity. Members describe their commitment through a series of short answer questions describing a time when their integrity has been challenged.

In 2006—2007 NSCS awarded these scholarships to two members who demonstrated true commitment to academic integrity. The 2006-2007 recipients were:

Katerina Nelson - California State University, Long BeachDiep Pham - Dartmouth College

The Distinguished Scholars Program The Distinguished Scholars program provides NSCS members with the opportunity to live, work and study in Washington, D.C. or Boston for eight weeks. The 2007 program took place June 2—July 28, 2007 and included 54 participants.

The participants not only interned at a company relevant to their field, but also took a class at Georgetown University in Washington, D.C. or Boston University respectively. The participants interned at organizations such as the U.S. Department of the Treasury, the Embassy of Peru, the National Geographic Channel, Boston Magazine, Massachusetts General Hospital and the Massachusetts Office of Travel and Tourism. NSCS helped participants defray the cost of the program through $ 12,350 in scholarships

NSCS Scholarships

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“I got to see first hand the different problems that clinics in South Africa face versus clinics in the United States. It inspired me to do international work when I become a physician. Before, I was curious but not familiar with international medicine.”

Josh Farhadian, University of Pennsylvania

Participated in a medicine trip to South Africa in 2006

“The trip has made me more confident to explore the unknown. I can more easily push myself outside of my ‘comfort zone’ and feel comfortable. The huge language barrier has made me more confident with communicating with people. I am considering studying abroad in India all of next year. I don’t think I would have considered this had I not taken the trip.”

Kristen Huschitt, University of Wisconsin

Participated in an archeology trip to China in 2007

“When I departed Tennessee I knew none of the other students. Luckily, I made some really close friends throughout the two-week trip. I most frequently reminisce about all of the amazing people I met throughout the experience. I still keep in touch with some of them.”

Allison Hayes, University of Tennessee

Participated in a journalism trip to Australia in 2007.

International Laureate Program

The International Scholar Laureate Program run by Envision, an NSCS Partner, enables

NSCS members to take pre-professional trips in different countries. Sample trips

include studying medicine in India, journalism in Australia and archaeology in China. In

2007, 381 NSCS members participated in the program.

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National Leadership Council

Executive BoardDavid Jose PresidentJenny Wang Executive Vice President Programs BoardBrittany Anderson Vice President of Community ServiceLiz Coppolecchia Vice President for Planning for College SuccessPaul Johnson Vice President of LeadershipAshley Lundh Vice President for CommunicationsAshley Tolman Vice President AdministrationJudith Udeke Vice President for Nontraditional StudentsJustin Alden Wilson Vice President for Scholarship

Regional Vice PresidentsMelissa Tyburski Vice President for Region 1Nicole Ramsey Vice President for Region 2Aaron Ronksley Vice President for Region 3Dustin Abbs Vice President for Region 4Peter Chickris Vice President for Region 5Ashley Wagner Vice President for Region 6

The National Leadership Council 2006-2007’s Achievements:

The Exemplary Scholar AwardThe Council issued the third annual Exemplary Scholar Award, a non-monetary award for one member who exemplifies all the values that NSCS stands for: scholarship, leadership, service and integrity. Kimberly Duesing, a 2007 graduate of the University

of Kansas, was the 2006-2007 recipient for her exceptional commitment to NSCS and her involvement in community service.

Integrity: The Council developed an item for the NSCS store titled “Integrity is Universal.” The globe-shaped stress ball was part of the NSCS initiative to promote integrity on campuses nationwide. Communicating with members: The Council used surveys, blogs and newsletters to get feedback from members and officers

The National Leadership Council represents NSCS membership to the national staff

and the Board of Directors.

The Council has three components: the Executive Board, the Programs Board and the Regional Vice Presidents. The Executive Board is on the NSCS Board of Directors and thereby represents the NSCS membership. The Programs Board is responsible for planning and implementing the Council’s initiatives. The Regional Vice Presidents serve as a sounding board for the Program Board’s initiatives and help with the implementation of these initiatives.

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Scholar Ambassadors 2006-2007

Ally Hudson University of New Mexico 2006Emily Rhineberger California State University, Long Beach 2006Dalinda Dennis Baylor University 2006Jennifer Watson University of South Florida 2006Amanda Hapner University of Kentucky 2006Crystal Smith Southern Methodist University 2006

The Scholar Ambassadors’ Achievements:The Ambassadors led several workshops for officers during the 2006 Leadership Summit in Louisville, Kentucky. Topics included tips on recruiting new chapter members to why NSCS is “not your average honor society”.

In winter 2006–2007 the Scholar Ambassadors planned and successfully executed Regional Conferences in the following cities: Providence, Cincinnati, New Orleans, Bloomington, Denver and Salt Lake City. In all, over 200 members were able to obtain professional development and leadership training opportunities, as well as network with fellow NSCS members and officers.

The dedication and support of the Scholar Ambassadors culminated in 54 NSCS chapters receiving STAR status for the 2006-2007 year. STAR recognition is awarded to those chapters who demonstrate their dedication to the NSCS pillars of scholarship, leadership and service through a rigorous schedule of chapter and officer meetings, community service and social activities, campus recognition activities, meeting with campus officials, mentoring and tutoring middle-school and high schools students and working with the national office to invite new members.

The extra support provided by the Scholar Ambassadors boosted recruitment efforts, earning NSCS an impressive recruitment year of over 65,000 new members.

Scholar Ambassadors

The Scholar Ambassador Experience is a one-year opportunity for past NSCS officers

and NLC members to work a full-time position on the NSCS staff after graduation.

Ambassadors are picked after a competitive application and interview process. Scholar Ambassadors work as part of multiple NSCS departments, providing support for chapters, engaging members in NSCS programs and contributing to the success of the new member invitation process.

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GoldBaylor University

Central Michigan University

Colorado University

Creighton University

Eastern Illinois University

Embry-Riddle Aeronautical University

Florida International University

Florida State University

Georgia Institute of Technology

Indiana University

Kansas State University

Middle Tennessee State University

Prairie View A&M University

Southeastern Louisiana University

St. Louis University

Temple University

Texas A&M University

The University of Alabama

The University of North Carolina at Chapel Hill

The University of Texas at El Paso

University of Cincinnati

University at Colorado-Boulder

University of Illinois at Chicago

University of Delaware

University of Maryland

University of Missouri-Columbia

University of North Texas

University of Northern Iowa

University of Wyoming

West Virginia University

Winona State University

Georgia State University

George Mason University

The University of Central Florida

The University of South Florida

Kansas University

Rutgers University, State University of New Jersey

Stony Brook University

The University of North Carolina at Asheville

Montana State University Bozeman

Truman State University

University of Hawaii at Manoa

Silver Iowa State University

Massachusetts Institute of Technology

University of Oklahoma

The University of Texas at San Antonio

University of Nebraska-Lincoln

BronzeMissouri State University

The University of Iowa

Trinity University

University of California, Los Angeles

University of Central Florida

University of Northern Colorado

Chapter Achievements

STAR STATUS Every year, NSCS recognizes its most successful chapter through the STAR status system. The system includes four levels: gold, silver, bronze and chapter in good standing. Factors that contribute to a chapter’s rating include the number of meetings held, the quality of the Induction Convocation and chapter events, as well as outreach efforts to promote NSCS to the general campus community.The following is a list of chapters awarded gold, silver and bronze status.

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Planning for College Success

Planning for College Success (PFCS) is NSCS’ signature mentoring program wherein NSCS chapters make weekly visits to local middle schools to tutor students in math, science and reading.

A highlight of this program is March to College Day, when local chapters bring middle school and high school students to campus to see what college life is like, and to prepare for their own journeys to college.

Below are two examples of what our chapters have done with this program in the past year.

At Montana State University-Bozeman, NSCS members held four March to College Days, including more than 500 middle school children in the process. The College Days featured presentations from 40 different professors, 70 college volunteers and more than a dozen university offices.

At the University of Kansas, NSCS members partnered with 19 different K-12 schools, included 125 active tutors per semester and logged more than 1200 tutoring hours.

.Baylor University’s chapter hosted their fifth annual March to College Day on March 23, 2007. The event featured more than 300 Waco-area high school students from five different schools. Speakers included former Baylor head coach Grant Teaff and two former Baylor athletes who went on to the NFL. Representatives from 20 different campus organizations and administrators from local community colleges spoke about the importance of a college education.

NSCS Chapter Success Stories NSCS owes its success to individual chapters, which create programming that engage and inspire members. Below are some highlights from chapter activities across the country.

NSCS chapters from Southern California participated in the AIDS Walk, Los Angeles in October 2006 to raise funds for AIDS research. The chapters raised $1,850 for research.

In October 2006, Florida International University donated 447 cans to the Miami Rescue Mission to help needy people in its community. The chapter began collecting cans at its Induction Convocation.

The University of Arkansas raised money on Veterans’ Day 2006, and used it to buy items for care packages for U.S. troops in Iraq. In addition, some students from Horace Mann Elementary School in Springfield, Missouri wrote thank-you cards and Christmas cards to the troops. Local news media covered the letter-writing event and did a TV news story. The five care packages of various sizes were shipped in mid-December 2006.

NSCS members at Lehigh University raised $900 for breast cancer research at a student run-fashion show and silent auction titled “Fashion for a Cure.” The event took place in March 2007. The fashion show included participants from university sororities and sports’ teams.

Western Washington University’s NSCS chapter participated in its university’s Relay for Life event. The event took place in May 2007 and the NSCS chapter raised $600 to contribute to the $47,000 raised by the university as a whole.

NSCS members at The University of Texas-San Antonio donated blood and helped register people for The South Texas Blood and Tissue Bank, in May 2007. The blood drive was two days long and the goal was to collect 120 units of blood. At the end of the second day the blood bank reported back that 190 units of blood were collected overall and the NSCS chapter had donated the most blood.

St. Louis University planned a ball in April 2007 to raise money for Cystic Fibrosis. More than 100 people attended, including students and faculty. All together with ticket prices, food, donations, the silent auction and the raffle the chapter raised $2600 for the Cystic Fibrosis Foundation.

Chapter Achievements

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Baseball player Kendall Horner, a junior at Oklahoma State, was one of seven players nationwide honored with the Arthur Ashe Sports Scholar Award in May 2007. The award is given to undergraduate students of color who have achieved both athletically and academically as well as in the community.

Mary Elizabeth Air, a Rice University graduate, was awarded a Fulbright scholarship to research dancers’ health-care issues at the Hospital for Dancers and Musicians, The Hague, Netherlands. A former dancer herself, Air worked to improve healthcare access for classical dancers.

David Fajgenbaum, a senior at Georgetown University received the BRICK award, an award termed the “Oscars of youth service awards.” Fajgenbaum received a $10,000 community grant toward his nonprofit National Students of Ailing Mothers and Fathers. The nonprofit helps students who are grieving for a dying parent.

Glen Weyl, a Princeton University senior, was named valedictorian of the Princeton Class of 2007. Although Weyl entered college for a bachelor’s degree, he is now a year away from getting a Ph.D.

Katherine Meck, an American University senior received a Critical Language Scholarship from the U.S. Department of State to study Bangla in Bangladesh. Meck spent eight weeks in the Bangladeshi capital, Dhaka, to learn English.

Member Achievements

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NSCS Partners

Employers

Abbott

Accenture

Apex Systems

Cheetahmail

Deloitte & Touche

Deutsche Bank

Erickson Retirement Communities

Ernst &Young

GEICO

JP Morgan Chase

McKesson Corporation

New York Life Insurance Company

Peace Corps

Progressive

Raytheon Corporation

Teach For America

Graduate School Partners

British Council

Central Michigan University

Clarkson University

George Mason University School of Public Policy

Hawaii Pacific University

Marymount University

New York University

Oklahoma City University

Princeton University

Rensselaer Polytechnic Institute

Rochester Institute of Technology

Saint Louis University

University of San Francisco

University of Pennsylvania ( School Of Education)

Other Partners:America’s Promise NSCS chapters use America’s Promise alliance of

national organizations to find community service projects in their area. America’s Promise recognizes NSCS members who spend 50 hours or more in service to young people as Scholars of Promise. In addition, America’s Promise recruits members of their youth board, Five Promises Ambassadors Network, from NSCS.

Barnes&Noble.com Barnes&Noble.com offers NSCS members a 5

percent discount on all purchases with double-discounts during the back-to-school and holiday seasons. NSCS and Barnes&Noble.com also offer the NSCS Book Club, in which a book is recommended to members each month at a significant discount.

Chase Education Finance NSCS has partnered with Chase Education

Finance to offer members the NSCS Student loan Consolidation Program, a federally guaranteed student loan consolidation program. Participating in this program allows members to reduce and simplify their monthly student loan payments and lock-in a low fixed interest rate. Chase also provides free personal loan counselors to NSCS members. The counselors walk members through the loan consolidation process.

First Book NSCS chapters help raise funds for First Book, an

organization that provides new books to low-income children. First Book also works with NSCS members who are interested in chartering campus advisory boards on their campuses, which enables college students to distribute new books to local educational programs.

GEICO NSCS members are eligible for an 8 percent

discount on their car insurance with GEICO. The discount is available in 46 states, plus the District of Columbia. In addition, GEICO offers free estimates, convenient payments plans, 24-hour access for sales, service and claims, as well as a countrywide network of claims adjusters.

Idealist.org/Action Without Borders Idealist.org is a project of Action Without Borders, a

nonprofit organization founded in 1995 to promote the sharing of ideas, information and resources to help build a world where all people live free, dignified and productive lives. NSCS members are encouraged to visit Idealist.org and learn about the many opportunities and organizations outlined on the site.

NSCS provides its members with scholarship, career and networking opportunities

thanks to its partners. Below is a list of NSCS partners.

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Kaplan Test Prep and Admissions Kaplan is renowned for its expertise in high

education test preparation. NSCS members receive a $100 discount on Kaplan online or classroom courses, including courses on the LSAT, MCAT, GMAT and GRE.

New Etruria College Association (NECA) NECA’s study abroad program in Florence, Italy

offers interdisciplinary courses that appeal to students from a variety of majors, including art history, economics, literature, political science and sociology. NECA provides scholarships to all NSCS members who are accepted to its programs, which run during the school year as well as during the summer.

Projects Abroad Projects Abroad is the leading organizer of

volunteer placements across five continents. They offer a diverse range of teaching, care, conservation, medical, journalism and work experience projects, plus the opportunity to become part of their local communities overseas.

Semester at Sea Semester at Sea provides opportunities for the

exploration and study of people, places and cultures around the world. They offer half-tuition scholarships to NSCS members for their fall and spring voyages and five $2,000 scholarships for their summer voyages.

Universum NSCS has partnered with Universum

communications to bridge the gap between students and their future employers. Universum polls students at leading universities throughout the world about their career goals and the job recruitment process. NSCS encourages members to participate in the Universum survey, in order to find out what is expected of potential employer, as well as employers to use the given information to tailor and improve their recruitment strategies.

United Healthcare Student Resource: NSCS has endorsed affordable health insurance

coverage and made it available to members through United HealthCare. Any active member taking at least one college credit hour is eligible to enroll. In addition, insured members can also purchase coverage for their eligible dependents. The plan is underwritten by United HealthCare Insurance Company in all states except New York, where the plan is underwritten by the United HealthCare Insurance Company of New York. Benefits may vary by state and the plan is not available in Hawaii, Massachusetts, New Jersey, Oregon, Puerto Rico, or Washington.

University of Massachusetts Dartmouth SEAMester Program SEAmester allows students the unique opportunity

to study the marine environment while immersed in a nautical tradition. The program also offers a $10,000 scholarship to an NSCS member for the fall and spring trips.

NSCS Partners

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