The Bronx CUNY Scholarship Fund, a pioneering collaborative fundraising effort of CUNY’s three Bronx Colleges, has started its second year on strong footing.
The brainchild of Bronx businessman and philanthropist Elias Karmon and of Serafin Mariel, founder and former President of New York National Bank, the Scholarship Fund raised nearly $200,000 in its first year, including $80,500 from local businesses and individual donors and a generous endowment gift from Dr. Karmon.
The New Yankee Stadium Community Benefits Fund helped launch the Bronx CUNY Scholarship Fund’s second year with a grant of $50,000, bringing the Fund close to $100,000 for current use as the fall semester started. Proceeds are distributed equally among Bronx Community College, Eugenio MarÃa de Hostos Community College, and Herbert H. Lehman College.
The Bronx CUNY Scholarship Fund provided support to 75 students last year and in the Fall 2008 assisted 50 students, including many from immigrant families who must work to support themselves and other family members while they attend college.
Dr. Karmon, who died in October, will be remembered through the scholarship he endowed. Proceeds from the Elias Karmon Scholarship Fund also will be distributed equally among the three Bronx CUNY colleges.