Fund: Bruce McCormick Award for Excellence in Economics Endowed Fund Department: Economics Dept D01026 Purpose: Undergraduate Student Support Fund Purpose: This fund shall provide support for undergraduate students in Economics. Eff. 11/11/20 converted to #600431 BACKGROUND Bruce McCormick received his B.S. in Economics from UCR in 1974. He then went on to receive an M.A. in Economics from UC Berkeley in 1977. Bruce enjoyed a 39-year career in the banking industry, working 8 years at Wells Fargo in San Francisco followed by 31 years with Bank of America. He and his family lived in Seattle, Hong Kong, Connecticut and London during his time with the bank. Most of his long career included a focus on working with corporations in Latin America, then Asia, and finally Europe, the Middle East and Africa. Bruce is now retired and lives with his wife, Debby, in San Diego, where they are both active volunteers for a number of organizations. Bruce was the first college graduate on either side of his family. He attributes his time at UCR as providing the foundation to building a successful career in the financial industry. As such,this endowment is way for him to thank UCR and the Department of Economics, and positively impact future generations of Economics students. PURPOSE AND USE OF FUND This Fund shall be used to provide support for undergraduate students in Economics. Criteria and Selection Process The Fund is to be administered by the Department of Economics at the direction of the Chair. The fund shall support an annual award to a declared major in the Department of Economics who has demonstrated excellence in the study of Economics. Rising juniors and rising seniors are eligible to be considered for this award. Recipients shall be identified by a committee of Economics faculty in the spring quarter with disbursement occurring in the following academic year. Selection shall be based on merit. It is the Donor’s intent that the student recipients be awarded at minimum $1,000. When the total distributable amount can support multiple awards of at least $1,000, it will be left to the discretion of the committee of Economics faculty whether to award one larger award or multiple awards of at least $1,000. In years when there is no candidate who meets the criteria, awards will be held until the following year.