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Cafaro Foundation Awards $100,000 to Regional Chamber
YOUNGSTOWN, Ohio -- With an eye toward developing new jobs and opportunities in the Mahoning Valley, the Cafaro Foundation has announced two major gifts. The first is a grant to the Youngstown-Warren Regional Chamber, and the second is a scholarship to Kent State University.
The chamber will use the $100,000 gift to bolster its ongoing work in attracting new businesses and promoting the growth of existing businesses in Trumbull County. “The chamber has been a strong and effective force in our local economy.” said William A. Cafaro, Cafaro Foundation trustee. “We want to make sure the development specialists there have the proper resources to bring even more jobs to Trumbull County.”
The KSU grant, in the amount of $25,000, will be used to establish a new university scholarship at Kent State University.The Cafaro Foundation Endowed Scholarship will be awarded each year to one deserving student in Kent State’s School of Fashion Design and Merchandising. It is specifically intended to assist low income students from Trumbull County.
"The foundation’s generosity strengthens the chamber’s ability to effectively do business attraction, expansion and retention activities in Trumbull County,” said Tom Humphries, president and CEO of the Chamber.
Earlier this year, the Cafaro Foundation made a similar $25,000 gift to endow another scholarship at Kent State -- the William and Alyce Cafaro Innovation Scholarship at the university’s College of Applied Engineering, Sustainability and Technology. In addition to those school-specific grants, the foundation has awarded 22 other scholarships to worthy students this year, with a total value of $48,000. Trustees of the Cafaro Foundation awarded the scholarship grants based primarily on the students’ academic merit, while also considering their financial need and the recommendations of teachers and guidance counselors.
The Cafaro Foundation is a charitable entity established by the Cafaro family in memory of William M. Cafaro, the founder of the real estate development and management company that bears his name. Since its inception in 1996, the Cafaro Foundation has awarded millions of dollars in grants to worthy organizations and individuals.
The Cafaro Co. is one of America’s largest privately-held real estate development firms, managing more than 30-million square feet of property in 11 states.
Published by The Business Journal, Youngstown, Ohio.