The Michaels Organization, a family of companies that has pioneered innovation in developing and managing affordable, mixed-income, and military housing, announced today that its non-profit affiliate has awarded a record number of 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 $210,000, are administered through the Interstate Realty Management Educational Foundation, a non-profit entity created in 1991 by The Michaels Organization's Chairman and CEO Michael J. Levitt. Since then, the foundation has distributed more than $2.4 million in educational grants to more than 1,200 residents with financial needs at properties owned or managed by Michaels Development or its sister company, Interstate Realty Management. Six years ago, the program expanded to include the five military installations where Michaels Military Housing develops and/or 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 230 properties across 29 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 a record number of applicants and awarded a record number of scholarships—112 in all. Ceremonies are being planned at individual properties and military bases to award the scholarships over the next several weeks.