Rhode Island Foundation receives $12 million donation for scholarships
The gift is the largest for scholarships in the Foundation’s 106-year history
A $12 million gift to the Rhode Island Foundation will soon help send dozens of Rhode Island high school graduates to college every year through its new Robert G. and Joyce Andrew College Scholarship Fund, which is named in honor of the late donors.
“Bob and Joyce loved Rhode Island. It was home. They recognized the importance of education but realized most kids couldn’t afford it; they certainly couldn’t afford it when they were young. They wanted to pass along the opportunity and gift of education, yet keep it in Rhode Island,” said Drew Davies, co-executor of the Andrew estate and a friend of the couple.
gift is the largest donation expressly for scholarships in the
Foundation's 106-year history. The new fund is expected to generate enough income
annually to provide nearly 100 scholarships a year.
the legacy of generous donors who want to support the community over many years
is core to the work of the Rhode Island Foundation. We are honored that Bob and
Joyce Andrew trusted us to preserve their legacy with these scholarships, which
will benefit so many now and well into the future. Each year these funds will
make a meaningful and lasting difference in the lives of each of the many
recipients," said Neil D. Steinberg, the Foundation’s president and
fund will provide financial-need-based scholarships to
applicants who pursue undergraduate study at Bryant University,
Providence College, Rhode Island College, Roger Williams University,
the University of Rhode Island or the Community College of Rhode
Island within three years of graduating from a Rhode Island high school. The
scholarships are renewable for up to three additional academic years. The Foundation
estimates this year’s scholarships will average about $6,000.
and Joyce would be humbled by the joy their gift will bring. The magnitude of
this gift will carry on for generations and change many lives,”
said Davies. “This is a celebration of their lives. Helping these
students fulfill their educational dreams is their legacy.”
Married for 59 years, the Andrews grew up in Providence's West End in the 1930s and 1940s. After Bob returned from serving with the U.S. Army in Germany, he and Joyce began investing in real estate. Joyce was a teller at Citizens Bank in Providence until her retirement. Bob had a long and successful career as a businessman, including stints at the former Fleet Bank and as a vice president of one of the largest real estate firms in Rhode Island. He then launched several small businesses and went into commercial real estate before his retirement.
deadline to apply is May 9. For more information about the Robert G. and Joyce
Andrew College Scholarship Fund, click here.
Foundation has been offering scholarships since 1922, when the Providence High
School Scholarship Fund was established. The Andrew scholarships are
among $4 million in financial aid that is available this year.
Rhode Island Foundation is the largest and most comprehensive funder of
nonprofit organizations in Rhode Island. Working with generous and
visionary donors, the Foundation raised $98 million and awarded $76 million in
grants last year. Through leadership, fundraising and grant-making
activities, often in partnership with individuals and organizations, the
Foundation is helping Rhode Island reach its true potential. For more
information, visit rifoundation.org.