Mission
Accomplished
Felice
Memorial Scholarships Achieve Endowment Status
[March,
2008]
A
significant milestone was reached this month, ten years
after the Michigan Grocers Association board of directors
honored the memory of former board chairman Paul M. Felice
by establishing a college scholarship program in his name.
Thanks to some very generous giving to the
tax-exempt Michigan Grocers Foundation that raised a total of
$28,450 since October 2007, the goal of securing a number of
annual Paul M. Felice endowed scholarships has been realized.
More than two dozen individuals, companies, and foundations
answered the call of MGA Foundations’s most recent fundraising
campaign to raise at least $25,000.
Success in funding an endowment in this case
means that there will be sufficient earnings to support at least
4 or 5 Paul M. Felice Memorial Scholarships every year,
regardless of future fundraising results.
“I can’t tell you how pleased I am that this
important goal has been achieved,” said MGA president Linda
M. Gobler. “The broad support we continue to enjoy
without any corporate sponsorship I believe validates our
initial goal with this program, and it’s a very rewarding
tribute to Paul Felice.”
When Gobler informed her of the milestone,
Paulie’s sister and associate in the family business, Susan
Felice-Herzfeld said, “I am forever grateful to MGA for
establishing the scholarship program to allow Paulie to live on
in a positive way that reflects the way he lived his life.”
Some scholarship administrators advise
against endowment campaigns because of the inherent difficulty
of success. “When the goal is announced, whether to
commemorate, honor or memorialize, everyone’s on board,” said
MGA’s Mike Hamelin. “But over time endowment fundraising
results tend to diminish. That’s why we are so proud that in
this case MGA members and others ‘delivered the goods’ on time.”
Winners of Paul M. Felice Memorial
Scholarships for the 2008-09 academic year will be announced
next month.
