Funding
In 1955 the International Road Educational Foundation (IREF) was created to administer the funding of Fellowship grants.
When the IRF Fellowship Program was established in 1949, the Program was funded directly through the annual budget of the International Road Federation and from contributions made by national road associations and IRF member organizations. Such contributions are still welcomed and encouraged today.
Rising Costs of Education
However, by the early nineties it had become clear that new sources of financial support were needed so the amount of each Fellowship grant awarded could be increased to keep pace with rising educational costs.
IRF Future Fund
Accordingly, in 1991 the Future Fund was created. The endowment-style funding mechanism is supported by IRF member organizations and individuals. To ensure the long-term stability of the IRF Fellowship Program, the IREF Board of Directors has established a goal of raising $4 million for the endowment. As of December 31 2007, $2.5 million has been raised.
Contribute
For more information on how to contribute to the Future Fund please contact IREF's CEO Patrick Sankey