SACRAMENTO, CA, 2017-Apr-13 — /EPR Retail News/ — The CGA Educational Foundation today ( April 11, 2017) announced the creation of the “CGAEF Scholarship Endowment” in honor of its 25th anniversary of supporting the grocery industry with financial assistance and educational opportunities.
Through initial investments of $335,000, scholarships will be created and awarded to CGA-member company employees.
The newly-created endowment will support student success and opportunity by creating a permanent funding source for college scholarships – offering relief to the rising tuition costs that keep many students from completing their education.
The endowment will build on donations already received.
FOUNDING DONORS
The founding donors include: Stater Bros. Markets, Alta Dena Dairy and Got Milk representing the California Milk Processors, The Kellogg Company, The Albertsons Companies Foundation, Frito-Lay, Acosta Sales & Marketing/Clorox, The Coca-Cola Company, Southern Glazers Wine & Spirits, Raley’s, Unilever, and Anheuser-Busch.
“For employees in the grocery industry, the possibility of a better life begins with higher education,” says CGAEF President Ronald Fong. “Yet each year more students are struggling to make ends meet and stay in school.”
Although many California colleges have managed to keep enrollment fees low, affordability has become a growing barrier to student success, according to CGAEF Executive Director Shiloh London.
“This philanthropic investment has the ability to promote academic achievement and make it possible for college students to continue their academic dreams,” she adds.
Scholarships will be applied towards tuition for CGA-member company employees that meet a list of CGAEF Board of Trustees criteria.
“An endowment fund is a permanent, self-sustaining source of funds,” Fong says. “Assets are invested, and every year the fund’s earnings are used to create scholarships, while the gifted principle remains intact and secure. An endowment fund can grow and provide support for scholarships forever.”
The CGA Educational Foundation is celebrating its 25th anniversary in 2017. In the quarter century since its inception, the Foundation has created opportunities for thousands of people in the grocery industry through its highly respected college scholarship, tuition reimbursement and industry education programs.
“California is a place of opportunity – and no industry embodies this promise more than the grocery industry,” London says.
The CGA Educational Foundation was created under the direction of the California Grocers Association Board of Directors in 1992. Its mission is to provide financial assistance to advance the educational goals of CGA member company employees and their dependents and offer educational programs to advance the grocery industry. For more information, visit www.CGAEF.org.
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Source: California Grocers Association