FLINT – Russell J. Ebeid, president of the Guardian Glass Group, has donated $500,000 to seed a $1 Million endowment to provide scholarships for students of Arab-American descents attending Kettering University.
The fund, a partnership with the Arab Community Center for Economic and Social Services in Detroit, will total more than $1 million within 25 years and provide scholarships for upwards of 71 students during the next quarter century.
The Russell J. Ebeid ACCESS Scholarship for Arab American Students will start with an initial donation of $25,000, providing renewable scholarships of $5,000 each for 25 years. Criteria considerations include U.S. citizenship, community service and academic achievement.
The son of Lebanese immigrants, Ebeid, of Bloomfield Hills is a 1962 graduate of Kettering (formerly General Motors Institute). He began his career as a Mechanical Engineer for General Motors, joining Guardian Industries in 1970. He rose through the ranks at Guardian, world leaders in glass, automotive and building products sciences, to become president of the Glass Division in 1985.
Ebeid created the endowed fund at the Community Foundation for Southeast Michigan and leveraged his $500,000 gift to receive a $250,000 match from CFSEM, establishing the $750,000 Ebeid Family Fund, which will total more than $1 million after interest accrual over 25 years.
For the first 25 years of the fund, the majority of the grants will be given as scholarships for Arab-American youth attending Kettering University. The Ebeid Family Fund will then become a permanent endowment after 25 years to support charitable programs in southeast Michigan that provide educational, arts and cultural opportunities for promising, low-income youth with demonstrated leadership skills.
For more information, click on Kettering.Edu
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