Second Chance Scholarship Foundation Gives Hudson Valley Community College $400,000 to Assist Students
CONTACT: Deborah Renfrew (518) 629-7180, firstname.lastname@example.org
FOR RELEASE: Immediate, Wednesday, Nov. 9, 2011
Hudson Valley Community College was given $400,000 from the Second Chance Scholarship Foundation to create an endowed fund that will expand the Second Chance Scholarship program on campus. This donation is one of the single largest scholarship gifts in the college's history. The Second Chance Scholarship Foundation, administered by the Mastrangelo family, originally awarded its first five scholarships at Hudson Valley in 1989 and later expanded to other area colleges.
Second Chance Scholarships are aimed at students who not only are in need, but who overcome tremendous personal obstacles in order to pursue an education. The goal is to reward those who demonstrate the initiative and desire to achieve self-sufficiency through education. Students also are required to demonstrate academic achievement.
Over a 22-year period, more than 400 Hudson Valley students have received scholarships totaling more than $1 million from the Second Chance Scholarship Foundation. In 2007, the financial aid office at Hudson Valley was named the Mastrangelo Financial Aid Office in honor of the benefactors.
Established in 1987 by Angelo and Kathleen Mastrangelo as the Joseph N. Mastrangelo-Ralph C. Arnold Foundation in memory of the couple's fathers, it was later renamed the Second Chance Scholarship Foundation and for 24 years operated the Second Chance Scholarship program on several area college campuses. The Foundation's board, in consultation with the Mastrangelos, decided to dissolve the foundation and distribute its capital base among colleges that it has supported in the past.
"Transferring our monies to the college foundation will allow us to eliminate administrative costs and use these monies to sponsor more students. We started our program at Hudson Valley and worked with them for more than two decades. We are confident that they will continue to do an outstanding job of helping Second Chance Scholars," said Angelo Mastrangelo.
"Students who attain their education against all odds are to be congratulated. And, in so many cases, these students are the ones with the greatest financial need. With this significant donation to the Second Chance Scholarship program at Hudson Valley, we will be able to help these deserving students over and above the standard financial aid amount, and also give them the confidence to continue their educational pursuits," said Andrew Matonak, president of Hudson Valley Community College. "We thank the Second Chance Scholarship Foundation for seeing the college as a fitting repository for its funds."
Among the stipulations for the colleges to receive the money is agreement to operate their scholarship programs according to the terms set by the Second Chance Foundation. Hudson Valley's Foundation must provide 10 scholarships through ongoing fundraising efforts and fund an additional 10 scholarships through the endowment. Eligibility and selection of candidates must meet the requirements of the original Second Chance program.
"We are honored to be the recipient of the Second Chance Scholarship Foundation's incredible generosity. Their gift, one of the largest scholarship donations in Hudson Valley's history, will allow us to maintain and expand our longstanding and much-needed Second Chance scholarship program. There are many students who will benefit greatly from the Second Chance program and, in these economic times, scholarship money is more critical than ever," said Ray Kimmelblatt, executive director of the Hudson Valley Community College Foundation.
The Hudson Valley Community College Foundation is a not-for-profit charitable organization that was formed in 1983 to philanthropically support the college's mission. Gifts from alumni, corporations and friends are used to enhance programs, facilities and scholarship opportunities at the college.
Founded in 1953, Hudson Valley Community College offers more than 70 associate degree and certificate programs in four schools: Business; Engineering and Industrial Technologies; Health Sciences; and Liberal Arts and Sciences; and workforce and academic preparation programs offered through the Educational Opportunity Center. One of 30 community colleges in the State University of New York system, it has an enrollment of nearly 14,000 students, and is known as a leader in distance learning initiatives and worker retraining. Hudson Valley has more than 65,000 alumni.