The Michaels Organization, a family of companies that has pioneered innovation in affordable, mixed-income, and military housing development, announced today that is has awarded more than 70 educational grants to aspiring students who reside at its communities. The grants can be used by the recipients to pay tuition costs at any accredited college, university, or vocational training program in the country.
"We are very proud to be able to give back to the communities where we own and manage properties in this very tangible way," said John O'Donnell, chief operating officer of The Michaels Organization.
The grants, totaling $193,500, are administered through the Interstate Realty Management Educational Foundation, a non-profit entity created by The Michaels Organization's Chairman and CEO Michael J. Levitt in 1991. Since then, the foundation has distributed more than $2.2 million in educational grants to more than 1,100 residents at properties owned or managed by Michaels Development or its sister company, Interstate Realty Management. Five years ago, the program expanded to include the five military installations where Michaels Military Housing develops and manages family housing for Army and Air Force personnel.
"Mike Levitt and his wife Pat, who match every dollar raised through private donations two-to-one, are strong believers that education is the key to succeeding in life, and they are delighted to have this opportunity to help students pursue their dreams," said O'Donnell.
This year's recipients reside in communities throughout the Michaels portfolio, which comprises 250 properties across 27 states and military bases in Arizona, Kansas, Florida, and Maryland. The students receive awards ranging from $1,500 to $3,500, which are sent directly to the institution of higher learning for use toward educational expenses. Scholarships are awarded annually, and students may reapply each year for continuing grants.
To qualify, an applicant must be a high school graduate or have earned a GED with a grade point average of 2.5; college students must maintain a grade point average of 2.3. All applications are reviewed by independent educational consultant, Bruce W. Johnson, Ed.D., who has been involved with the program since its inception. Johnson also assists recipients by providing them with information about government-sponsored financial aid programs, for which they may be eligible.
According to Johnson, this year the educational foundation received 125 applications, from which 72 scholarships will be awarded. Ceremonies are being planned at individual properties and military bases to award the scholarships over the next several weeks.
About the Michaels Organization: Headquartered in Marlton, N.J., The Michaels Organization is a family of companies dedicated to excellence in affordable, mixed-income, and military housing. Since its founding by housing pioneer Michael J. Levitt in 1973, the Michaels Organization has developed, financed, or acquired more than 40,000 apartments, and currently manages 33,000 units in 27 states, the District of Columbia, and the U.S. Virgin Islands. Its companies include the Michaels Development Company, Interstate Realty Management, and Michaels Military Housing.