NIU freshman Erik Calmeyer was honored Saturday as the 2007 recipient of the NIU Executive Club Endowed Scholarship.

Calmeyer, a finance major who graduated from Johnsburg High School in McHenry County, has already begun to receive the scholarships that will last four years, as long as his major stays in the College of Business, said Sue Braffet, one of the event committee planning members and executive director of the NIU Executive Club.

The Hyatt-Regency hotel in Schaumburg played host to the Ninth Annual Endowed Scholarship dinner and dance Saturday evening.

The Executive Club offers one 4-year scholarship to an incoming freshman who applies and meets all criteria set forth by the organization.

“It has been a monumental experience,” Calmeyer said. “It was the difference between attending a community college for two years or going straight to NIU.”

All proceeds from the event and silent auction go directly to the endowed scholarship fund, which now has about $525,000, said Joseph Locke, event creator and 1968 NIU graduate.

“We hope to expand [the number of scholarships] to more than one each year,” Locke said.

Locke was honored Saturday, as he received the inaugural Founder’s Award from the Executive Club for creating the endowed scholarship fund.

More than 100 applications were received for the scholarship this year from freshmen all across the state.

Alvin Smith, a senior accounting major, received the scholarship four years ago, when the winner would only receive a two-year scholarship. After his sophomore year, the Executive Club offered Smith an additional two years, after the funds had increased.

“Being able to take stuff out of the textbooks and apply it back to real life is one the key experiences,” Smith said.

Winners of the scholarships are offered two internships going into their junior and senior years by companies with representatives in the NIU Executive Club.

“This has been an amazing opportunity, a phenomenal opportunity, as there are so many people here that can guide you while also acting as future business partners,” Calmeyer said.