Press Release (ePRNews.com) - Marlton, NJ - May 30, 2017 - The Michaels Organization Educational Foundation announced today that it has awarded $750,000 in college scholarships to residents living in rental communities owned or managed by The Michaels Organization (TMO), a national leader in residential real estate.
The scholarships received by 210 TMO residents from across the country will benefit 117 individuals living in affordable housing and 93 military family members living in privatized on-post housing. The scholarships can be used at any accredited college, university or vocational program for the 2017/2018 academic year.
“We believe in ‘Giving Back,’ and there is no better way of giving back than with the gift of an education.”
“This is an absolute record-breaking amount of scholarships that the Foundation has awarded — almost $150,000 more than last year,” said John J. O’Donnell, president of The Michaels Organization. “It’s a privilege for our organization to be able to give the gift of an education to the residents of our multifamily rental communities.”
Scholarships for the first time ever ranged as high as $10,000 per student. The Michaels Organization Educational Foundation is a non-profit affiliate of The Michaels Organization, first established by TMO’s founder and CEO Michael J. Levitt in 1991. Michael Levitt and his wife, Pat Levitt, contribute $2 for every dollar raised in private donations to the Foundation. With these latest scholarships, the total amount the foundation has awarded over the past 27 years now surpasses $5.9 million.
“Giving back is embedded in our corporate culture,” said O’Donnell. “We believe in investing in what matters, and the well-being of our residents and their families is what matters most.”
All residents who live in The Michaels Organization’s affordable, mixed-income, student, or military housing communities are eligible to apply for scholarships from the educational foundation. The scholarship funds are paid directly to the educational institution, and students can reapply every year of their undergraduate education.
The Michaels Organization Educational Foundation has helped more than 2,400 residents achieve their dreams of higher education since Michael Levitt became the first affordable housing owner in the country to create a scholarship fund for residents. Scholarship celebrations will be held this summer, in cities across the country, including Hawaii and Chicago, as well as on each of the 10 military installations where Michaels owns or manages the family housing.
Academic grants to higher education students residing in student housing communities owned or managed by TMO’s University Student Living will be announced in the fall.
About The Michaels Organization Educational Foundation
The Michaels Organization Educational Foundation is a nonprofit affiliate of The Michaels Organization, a national leader in residential real estate. Serving 135,000 residents in 370 communities across 35 states, D.C., and the U.S. Virgin Islands, The Michaels Organization offers full-service capabilities in development, property and asset management, construction, finance, and tax credit syndication.
The Michaels Organization Educational Foundation