Fond du Lac Tribal and Community College received a $100,000 donation from Beverly and Richard Fink to create an endowed scholarship for students attending the college. The gift is believed to be the largest private donation ever given to support student scholarships at the college, and the second-largest private donation ever given to Fond du Lac Tribal and Community College.
The $100,000 gift to Fond du Lac Tribal and Community College is part of a $760,000 pledge to Minnesota State Colleges and Universities to provide continued support to the Beverly and Richard Fink Summer Scholars Program. This is the second major gift from Beverly and Richard Fink, building on an initial gift of $960,000 committed in 2017 to Minnesota State that established the Summer Scholars Program.
In the Finks’ recent pledge, Fond du Lac Tribal and Community College was the only institution to specifically receive a gift to establish an endowed scholarship. The new fund within the Fond du Lac Tribal and Community College Foundation was created out of the donors’ desire to support American Indian communities and education.
“We are grateful that Beverly and Richard Fink recognize the challenges many of our students experience and thoughtfully chose to support our students through scholarships created by the endowed fund,” said Stephanie Hammitt, President of Fond du Lac Tribal and Community College. “Their incredible gift will help many students and benefit generations to come.”
An endowed scholarship is established by a donor and invested. Scholarships are awarded in perpetuity using only the interest accrued in a designated time period, and not using the principal of the endowed fund.
The Beverly and Richard Fink Summer Scholars Program grew out of the donors’ interest to reduce disparities in educational outcomes by reducing the impact of financial disparities and disparities in academic preparedness. By intervening early, the impact of the Summer Scholars Program increases the likelihood of college student success and degree completion.
Richard Fink is the former leader of G&K Services, a Minnetonka-based uniform company. Beverly and Richard Fink have supported students and programs at many higher education institutions including Minnesota State and the University of Minnesota.