By Monir Khilla and Roberto Miranda—
New Jersey City University (NJCU) received a $1 million grant from former Congressman Frank J. Guarini on June 20, 2012. The donation will help NJCU in its mission to provide higher education to urban and multicultural students.
According to the press release, the donation is in honor of Guarini’s mother Caroline L. Guarini and nephew Peter G. Mangin. Endowments from the donation will benefit students involved in music and the performing arts, and include a scholarship fund in support of interdisciplinary urban studies, planning and development.
Lori Summers, Director of Development, said, “There are three portions of the grant. About 50 percent of the money will go to endowed scholarships for music. Close to half of the remaining amount of the endowment will go to various disciplines (such as, but not limited to, business, finance and economics), with a priority to those doing internships in real estate firms.”
Both portions of the endowment will be matched by a Title V Grant from the Department of Education.
The last 10 percent will go towards NJCU’s Annual Fund. The Annual Fund is an unrestricted fund that can be designated by the University President for strategic planning, such as upgrades and scholarships.
“We have to wait for the endowment to mature,” said Summers. “It’s a three year plan, so the scholarships probably won’t be ready until 2014.”
NJCU gave Guarini an honorary doctorate in 1993. The university also honored Guarini by officially renaming the library after him back in 2000.
