Establishment of an endowment fund that will serve as a continuous and permanent source of college scholarship monies for Latino youth in Oregon is a solid step in the right direction.
Partnering with the Latino business community through the Hispanic Metropolitan Chamber, the Oregon Community Fund and Meyer Memorial Trust jointly created the Oregon Latino Scholarship Fund.
"Research shows that family income is a major obstacle for Latino students in completing college," said Gale Castillo, executive director for the Hispanic Chamber. "This fund provides encouragement to Latino students that Oregonians support their educational advancement in our community and provides hope for Latino families."
Pictured from left: Berta Ferran treasurer of the Hispanic Chamber of Commerce board; Gale Castillo, executive director of the Hispanic Chamber; Sara Gonzalez, a student scholarship recipient; and Greg Chaillé, president of The Oregon Community Foundation at the announcement of the Oregon Latino Scholarship Fund. Photo courtesy of Melissa Wilmot for The Oregon Community Foundation
Since 1994, the Hispanic Chamber has been raising funds for college scholarships
To establish the fund, three private donors – George Puentes, William Swindells and Joe Weston each committed $100,000. The Meyer Memorial Trust has pledged another $250,000 in matching funds for future donations, and the Hispanic Chamber is donating $60,000 from its members. The total pledged amount is $610,000, with the six-month goal of reaching $1 million. The ultimate goal is to eventually grow the fund to at least $5 million.
"The Hispanic Chamber will be awarding scholarships from this fund based on the interest earned on the principal," said Castillo during a press conference announcing the fund. "As it grows, we anticipate using 5% of the fund for scholarships. We will continue to raise funds on an annual basis while the endowment fund grows."
Partnering with the Latino business community through the Hispanic Metropolitan Chamber, the Oregon Community Fund and Meyer Memorial Trust jointly created the Oregon Latino Scholarship Fund.
"Research shows that family income is a major obstacle for Latino students in completing college," said Gale Castillo, executive director for the Hispanic Chamber. "This fund provides encouragement to Latino students that Oregonians support their educational advancement in our community and provides hope for Latino families."
Pictured from left: Berta Ferran treasurer of the Hispanic Chamber of Commerce board; Gale Castillo, executive director of the Hispanic Chamber; Sara Gonzalez, a student scholarship recipient; and Greg Chaillé, president of The Oregon Community Foundation at the announcement of the Oregon Latino Scholarship Fund. Photo courtesy of Melissa Wilmot for The Oregon Community Foundation
Since 1994, the Hispanic Chamber has been raising funds for college scholarships
To establish the fund, three private donors – George Puentes, William Swindells and Joe Weston each committed $100,000. The Meyer Memorial Trust has pledged another $250,000 in matching funds for future donations, and the Hispanic Chamber is donating $60,000 from its members. The total pledged amount is $610,000, with the six-month goal of reaching $1 million. The ultimate goal is to eventually grow the fund to at least $5 million.
"The Hispanic Chamber will be awarding scholarships from this fund based on the interest earned on the principal," said Castillo during a press conference announcing the fund. "As it grows, we anticipate using 5% of the fund for scholarships. We will continue to raise funds on an annual basis while the endowment fund grows."