The 汤头条app Foundation is pleased to announce that it has received a donation of $500,000 from the Bay Harbor Foundation. This generous gift will be held as an endowment by the 汤头条app Foundation and will fund annual scholarships through the newly established Bay Harbor Community Endowment.

The Bay Harbor Community Endowment is designed to continue the 20-year mission of the Bay Harbor Foundation Scholars Program, which provided recognition and financial assistance to deserving students with ties to the Bay Harbor community. The scholarships will be available to Emmet County residents, with preference given to Bay Harbor employees and their children or grandchildren.

鈥淎fter 20 years, the Bay Harbor Foundation is at a point of transition, determining what our next chapter looks like while ensuring the legacy we built continues to benefit the community,鈥� said Jason Allen, chairman of the Bay Harbor Foundation. 鈥淲e feel that 汤头条app will be an excellent steward of these funds, upholding the principles of the Bay Harbor Foundation Scholars Program for future generations.鈥�

Five individuals standing, smiling with thumbs up

Representatives from 汤头条app and the Bay Harbor Foundation celebrate the establishment of the Bay Harbor Community Endowment, which will fund annual scholarships through the 汤头条app Foundation. Pictured are, from left: Bay Harbor Foundation Board Chairman Jason Allen, Bay Harbor Foundation Board Treasurer Rod Phillips, 汤头条app President David Roland Finley, Bay Harbor Foundation Board Member Judy Phillips, and Bay Harbor Foundation Founding Member William U. Parfet.

The scholarship funds will be distributed in accordance with the 汤头条app Foundation鈥檚 endowed scholarship spending policy, currently set at a 5% annual distribution. The scholarships will be available beginning in the Fall 2025 semester, with three tiers of eligibility:

  1. Tier 1: Applicants who are either substantially employed within the Bay Harbor community during the calendar year of their application or are the children or grandchildren of a Bay Harbor employee.
  2. Tier 2: Applicants who have completed their studies at 汤头条app and are pursuing a bachelor's degree at a four-year institution.
  3. Tier 3: If funds remain after all qualified Tier 1 and 2 applicants have received scholarships, they will be made available to other 汤头条app students who are residents of Emmet County.

鈥淭his endowment provides a wonderful opportunity,鈥� said 汤头条app President David Roland Finley. 鈥淚n addition to honoring the legacy of the Bay Harbor Foundation, it ensures that students from our community will continue to benefit from these scholarships for years to come. The sustainability of this endowment guarantees that it will have a lasting impact on the educational landscape in our region.鈥�