Second Century Fund Reaches Scholarship Milestone

SCHOLARSHIP MILESTONE: On Wednesday, September 30, Bishop Joseph V. Adamec (right) announed that the diocesan Second Century Scholarship Fund awarded a record $1.2 million in scholarships to students this school year. Pictured at the announcement press conference at the Diocesan Administrative Center in Hollidaysburg are (left to right) Monsignor Michael E. Servinsky, vicar general for administration; Chris Ringkamp, director of development; and Sister of Charity Donna Marie Leiden, director of education.

By: Photos and Text
By Bruce A. Tomaselli

Bishop Joseph V. Adamec announced that the Diocesan Second Century Scholarship Fund set a record with the distribution of $1.2 million in scholarships awarded to 800 students this school year.

He made the announcement at a press conference held on Wednesday, September 30 at the Diocesan Administrative Center in Hollidaysburg.

Bishop Adamec established the Second Century Scholarship Fund about eight years ago after Pennsylvania legislators passed an education tax credit for corporations. The fund is a separate 501 (c)(3) nonprofit organization.

"Quite simply the Educational Improvement Tax Credit - or EITC,- allows a business-whether it is a large corporation or a smaller family-owned company - to redirect a portion of its tax dollars to support students in a local community," Bishop Adamec explained.

He invited Barbara Kooman of Kooman & Associates, Inc. to share her perspective on earning Educational Improvement Tax Credits through the Second Century Fund.

"As a graduate of Bishop Guilfoyle Catholic High School in Altoona, I'm glad I can help support Bishop Guilfoyle. As a corporation Kooman & Associates is excited to have some small part in the great success of the Second Century Scholarship Program.

"It's a great feeling to be able to redirect tax money from the great abyss of Harrisburg to help local students," Kooman said.

She continued that her business became aware of the opportunity to earn tax credits from their accountant, Tom Hoyne, last year. This is the second year they have contributed to the Fund.

For a one-year contribution, a business can earn a 75% tax credit for contributions to a nonprofit scholarship organization that is pre-approved to participate in the program.

Kooman reiterated that it's nice to be able to see tax dollars being spent on students, and to know you are getting great value from your contribution.

"The EITC Scholarships are a lifeline of hope for students and their families, who have chosen a Catholic education," Kooman added. "It has been our pleasure to be able to participate."

Bishop Adamec said it is a win - win situation because businesses don't lose and they help the schools.

Chris Ringkamp, diocesan director of development, said, so far there has been more than $2.5 million and 4,766 scholarships awarded from 2001 to 2008. "The response from the business community is nothing less than remarkable considering that we live in a time when economic conditions have not been favorable."

It has been an incredible year, he said, but the Second Century Fund will not "achieve complete success until all of our program-eligible students receive tuition assistance through the EITC program."

Even though over 800 scholarships were awarded, there are about 600 more students that could use scholarship assistance.

Sister of Charity Donna Marie Leiden, diocesan director of education, is very appreciative of the response from the business community, and explained, "Scholarship recipients are determined by an independent screening agency. They decide who can use the tuition assistance and that they meet the verification criteria," she said. "The Diocese sees only the end result."

Bishop Adamec thanked Monsignor Michael E. Servinsky, vicar general for administration; Sister Donna Marie, Larry Sutton, chief financial officer of the Diocese; and Ringkamp. "Their leadership, vision and hard work have been vital to the success of the Second Century Fund," said Bishop Adamec.