KNIGHT FOUNDATION GIFT RAISES PHILADELPHIA SCHOLARS FUND ENDOWMENT TO KNIGHT FOUNDATION GIFT RAISES

KNIGHT FOUNDATION GIFT RAISES PHILADELPHIA SCHOLARS FUND ENDOWMENT TO KNIGHT FOUNDATION GIFT RAISES PHILADELPHIA SCHOLARS FUND ENDOWMENT TO $2.5 MILLION PHILADELPHIA, Jan. 16 /PRNewswire/ -- Knight Foundation has joined the ranks of folks and significant supporters from the company community with a grant of $100,000 to the Philadelphia Scholars Fund, it was announced by Dr. Constance Clayton, superintendent of schools. The fund offers "last-dollar" college scholarships to Philadelphia's public school graduates. Knight Foundation's grant raises the fund to nearly $2.five million. At last week's reunion of scholar recipients, students called their "last-dollar" scholarships "a dream come true," "a prayer answered." A single student said that her award paid for her books . "With a biology book costing $75, my final dollar scholarship produced going to college potential." "It has lived up to its name," said an additional college freshman. Lots of vivid young students miss the opportunity to go to college due to what may perhaps oftentimes be a gap of some hundred dollars, or occasion the price of a each day commute. Established in 1950 by John S. and James L. Knight, Knight Foundation is probably the nation's biggest private foundations. It makes national grants in journalism, greater education and also the field of arts and culture. It also supports organizations in communities exactly where the Knight brothers were involved in publishing newspapers but is wholly separate from and independent of individuals newspapers. Made in 1990 by the Philadelphia Schools Collaborative, the Philadelphia Scholars Fund has aided 89 high school graduates in West Philadelphia realize their dream of attending college. Stipends from the Philadelphia Scholars Fund can be utilised to cover common charges, which include tuition and charges, and books and transportation. The fund was launched via the efforts from the University of Pennsylvania with an award of $1 million via generous gifts from Penn trustee, John B. Neff. A. Morris William Jr., chairman with the advisory board in the Scholars Fund, and his wife Ruth kept the incentive going having a gift of $500,000 towards the endowment. Other foundations (Allen Hilles, Douty, McIean Contributionship, Hermes) have contributed to the fund however the Knight gift will be the largest foundation gift to date. As far more foundations, corporate and individual benefactors step forward, the fund will expand to serve public high school students from all over the city. The fund's aim is $15 million. /delval/ -0- 1/16/92 /CONTACT: Helen Cunningham in the School District of Philadelphia, 215-299-7279/ CO: Knight Foundation; School District of Philadelphia ST: Pennsylvania IN: SU: Related articles:

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