Finances
The Our World-Underwater convention established the first scholarship in 1974 and until its sale in 1998 was the primary funding source to the Society. Today, the Society offers two Rolex Scholarships as well as a variety of internships and other educational opportunities.
The Rolex Scholarships are entirely funded by donations from Rolex Watch USA and Rolex-Geneva. The Society and its other educational programs are additionally funded by generous corporate sponsors and individuals including E.P.I.C, Mercury Marine, and many others.
The original amount of the scholarship was $5,000, and it has been raised in increments over the years. This amount is reviewed at the Board of Directors's annual meeting. The maximum cash amount for the North American Rolex Scholarship is $20,000, for the European Rolex Scholarship the amount is £15,000 and for the Australasian Scholarship Aus$ ????
Our World-Underwater Scholarship Society funds are used for transportation and living expenses. The North American and European Rolex Scholars must submit a complete accounting for all expenditures. Logs, journals, financial reports, and other communications are mandatory and must be submitted monthly to the Scholarship Society for review by the Board of Directors and the Executive Committee.