The IFT Board of Directors has the authority and responsibility for the administration of Institute awards. Following are the rules and regulations governing the administration of awards.
All IFT awards must meet these conditions:
1. All awards are honorary.
2. The field recognized by the award must be broad and important so that qualified candidates are continually nominated in sufficient numbers.
3. New Achievement Awards must be unique, distinctive and not duplicate existing IFT Awards.
4. New Achievement Awards must be endowed to generate sufficient income that would enable the following items to be funded in perpetuity: (1) stipend equal to IFT's existing minimum award, (2) cost of memento, and (3) administration expense. The amount necessary to endow such awards is calculated as follows:
a. Stipend (currently $3,000)
b. Memento (varies, but $300 to be used as minimum)
c. Administration expense (10% of a+b)
d. Amount necessary to endow: (a+b+c) divided by the current interest rate. For the example below, .04 will be used as interest rate.)
Using the above numbers, $90,750 would be necessary to establish an award. The full amount ($90,750) must be in the fund at the time the endowment fund is established. The endowment fund must be established by July 1 prior to the first award year.
5. The Board of Directors approves or disapproves all policies including new awards, rule changes, and regulation changes of award juries.
6. To be eligible to receive an IFT Achievement Award, a nominee must not have received another IFT Achievement Award within the previous three years. This restriction does not apply to being elected an IFT Fellow, receipt of the Marcel Loncin Research Prize or to Achievement Award winners with multiple recipients (i.e. commercialization teams) in the same year. A person is eligible to receive the Marcel Loncin Research Prize even if having received an IFT Achievement Award or been elected an IFT Fellow within the previous three years.
7. An individual is not allowed to receive the same award or prize more than once.
8. Any non-student IFT member can make a nomination with four exceptions. (1) Nominations or letters may not come from a juror serving on the same jury. (2) A person cannot self-nominate. (3) A person may nominate their own company for the Industrial Achievement Award. (4) Student members can nominate for the Cruess Award.
9. No award is made when there is no suitably qualified candidate.
10. The Executive Vice President seeks nominations in the September issue of FOOD TECHNOLOGY.
11. Public announcement of Award recipients will occur after the Board of Directors review of jury results. All awards are given at the Annual Meeting.
12. Preparation and distribution of news releases on award recipients is the responsibility of the Executive Vice President. Releases go in the first available issue of FOOD TECHNOLOGY after public announcement. Releases go to commercial news media including the hometown media of award recipients and other media that the recipient requests.