In 1957, an optometrist in Fall River, Massachusetts, Dr. Irving Fradkin had an idea to improve his community. Young people in Fall River were not going to college. Dr. Fradkin knew successful communities need educated citizens. So, he asked his neighbors to each give $1 to a scholarship fund. Fall River citizens pulled together to raise $4,500 for 24 modest scholarships. It was this simple premise that intrigued people across the nation to form over 1,000 scholarship foundations. (See a recent interview with Dr. Fradkin here)
Our chapter began in 1999 with school board members Bill Agan and Marland Gammon bringing the idea to their community. 14 charter board members donated $10 each. Today, our endowment is invested with the Omaha Foundation and is now in excess of $600,000, with a yearly 4.5% interest return rate. Over 647 scholarships have been awarded totaling $316,000 since 1999. Nationally, $3.7 billion has been given out to nearly 2.3 million students.
For additional information, please visit the national web site at www.scholarshipamerica.org.