​ ​In 1968 the Hayes Memorial Scholarship Fund, now known as the Hayes Trust, was established with a base in excess of $225,000. This came from the wills of William H. and his wife, Anna C. Hayes. William Hayes had been a major builder and developer in Yardley-Lower Makefield area and a supporter of civic projects and fund drives. He was a close friend of Clifford Nelson, a Yardley insurance broker and the first President of the Foundation.
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As part of the Trust stipulations, the funds were, and still are, to be distributed to students based on financial need, and demonstrated excellence in character, leadership and scholastic ability. Each of these must be given equal consideration.
These criteria continue to be used in the screening of all student applications irrespective of the funding sources. One consequence of adopting the Hayes criteria is that the requirement to give "equal consideration" has hampered efforts by board members from time to time to give additional weight to the "financial need" criterion. In an article by Superintendent William Ingraham about the Foundation, as published in the Pennsbury Schools Report of June 1965, the emphasis was on need. He stated that, "Scholarship loans are awarded on the basis of need and on scholastic achievement." He then went on to state that, "The goal of the Foundation is to see that every boy or girl, having attended The Pennsbury Schools, can advance to higher learning of his choice, regardless of race, color and creed, if unable to continue financially, otherwise." (italics added) This statement has been attributed to Foundation founder Medill Bair, with whom Superintendent Ingraham had worked for several years.
In the December 1968 Pennsbury Schools Report, Superintendent Ingraham reporting on the announcement of the Hayes Trust, again stated, "(The) ultimate goal (of the Pennsbury Scholarship Foundation) is to see that every boy or girl, regardless of race, color, or creed, will be able to pursue higher learning of his choice, which otherwise, he might be forced to forego without financial aid."
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The Trust specified that scholarship awards were to be determined by a committee consisting of the School Board President, the District Superintendent and the Assistant Superintendent for curriculum and instruction, all Directors of the Pennsbury Scholarship Foundation.
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The Trust initially was administered by the Trenton Trust Company, Trustee and then its successors. As of 2022 the Trust had been terminated and the assets of the Trust had been transferred to the Pennsbury Scholarship Foundation "to use the assets for the sole purpose of administering the scholarship program established under the Will and to adhere to the restrictions and terms set forth in the Will for the on-going award of scholarships in the names of William H. Hayes and Anna C. Hayes," as stated in the Consent and Joinder signed by representatives of the Foundation and the Pennsbury School District. "Will' refers to the Will of William H. Hayes.
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Compiled from the files of Wanda Long and update by Kelly Corso, PSF Office Administrator. - Hal Long