Blue Knob Auto Sales Creates Trustee Scholarship at Penn State Altoona
Wednesday, May 28, 2014 - 1040 hits
Altoona, Pa.—Blue Knob Auto Sales, based in Duncansville, Pennsylvania, has made a $50,000 gift commitment to Penn State Altoona to create the Blue Knob Auto Sales Trustee Scholarship in support of students enrolled in the Entrepreneurship option.
“On behalf of our entire Penn State Altoona community, I express gratitude to the owners of Blue Knob Auto Sales for choosing to help our students achieve their academic goals,” said Penn State Altoona Chancellor and Dean Lori J. Bechtel-Wherry. “These benefactors share our vision of providing educational opportunity to talented students and sustaining an environment of outstanding quality.”
In recognition of the gift, Blue Knob Auto Sales will be inducted into the campus’s Ivyside Society. The society was established in 1987 to honor those who, through their philanthropic support and leadership, share a commitment to the continuing excellence of Penn State Altoona. Blue Knob Auto Sales will also be recognized at the annual Student and Benefactor Dinner in the fall.
In a joint statement, the eight partners of Blue Knob Auto Sales noted their collective pride in creating a Trustee Scholarship at Penn State Altoona.
“We believe in giving back to the community and feel that this is a positive way to contribute to the quality educational experience offered at Penn State Altoona,” the statement from the partners said. “The Trustee Scholarship will help develop an individual’s entrepreneurial skills that will provide them with the needed tools to be successful in today’s business world. We look forward to working with Penn State Altoona in helping develop tomorrow’s business owners and leaders.”
The Trustee Matching Scholarship Program maximizes the impact of private giving while directing funds to students as quickly as possible, meeting the urgent need for scholarship support. For Trustee Scholarships created through the end of For the Future: The Campaign for Penn State Students on June 30, 2014, Penn State will provide an annual 10 percent match of the total pledge or gift. This level is an increase from the program’s original match of 5 percent, and it is available only for new endowments of $50,000 or more. The University match, which is approximately double the endowment’s annual spendable income, continues in perpetuity, multiplying the support available for students with financial need.
The gift from Blue Knob Auto Sales supports the goals of For the Future. This University-wide effort is directed toward a shared vision of Penn State as the most comprehensive, student-centered research university in America. The University is engaging Penn State’s alumni and friends as partners in achieving six key objectives: ensuring student access and opportunity, enhancing honors education, enriching the student experience, building faculty strength and capacity, fostering discovery and creativity, and sustaining the University’s tradition of quality. The campaign’s top priority is keeping a Penn State degree affordable for students and families.
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