No one actually counts the words in your statement. Those guys are busy enough. Still, keep it under the limit. There isn't anything you need to say beyond 500 words. Keep it brief. Have a friend or prof read it and suggest edits to bring it down and make it more concise. The board reads hundreds of apps. Come out with your guns blazing and finish it off cleanly. You have to grab them, not bore them or make work for them. This is esentially technical writing, not creative writing.