The philanthropic initiative will support master's degree students in accounting at the University of Puerto Rico, Río Piedras Campus.
When Alfredo Salazar Conde participated in the scholarship committees of the Puerto Rico Community Foundation (PRCF), of whose Board of Directors he was a member, he used to ask the group of applicants: “How are you going to contribute to Puerto Rico with what you are studying? ”How are you going to contribute to Puerto Rico with what you are studying?" It was a question that placed on the table, two of his great values: education and public service. Now, it will surely be an indispensable question in the selection process of scholarship recipients in the new Alfredo Salazar Fund, which seeks to honor his memory and perpetuate his legacy of love and service to Puerto Rico.
The philanthropic initiative was established by his family at the FCPR on February 29, 2024, through the signing of a temporary agreement, whose purpose is to provide scholarships to master's degree students in Accounting at the University of Puerto Rico (UPR), Río Piedras Campus. The signing was attended by Camille Toro Torruella, Alfredo's wife and representative of the Fund, and his sons Carlos and Luis Salazar Geigel. Although it is now created as a temporary fund, they aspire to transition it to a permanent one through fundraising.
Alfredo was an economist, banker, public servant and philanthropist. In his career in the public sector, he stood out for having led the Industrial Development Company and the Government Development Bank (GDB). He also ran for resident commissioner in Washington for the Popular Democratic Party (PDP) and participated in the creation of the Corporation of the Prevailing Interest Fund (Cofina).
«Education was very important to my dad.»
The philanthropic alternative emerged after conversations between Camille and Mary Ann Gabino, FCPR's senior vice president. Between them, they identified the establishment of a supplemental scholarship fund to alleviate expenses related to schooling: tuition, housing, transportation, books, computer and other expenses. “Education was very important to my dad,” said Carlos.
“If we were studying, everything was on track, in a positive direction. The scholarship has to do with that which taught us all our lives,” he added.
The Fund also joins their desire to serve their fellow man.
“He loved to help and he loved the Community Foundation. I love the idea of a fund in Alfredo's name for the rest of his life,” Luis said. “I came out like him because I also have a foundation (LSG Foundation). It was my turn to do the backing up,” he said.
Since 2022, Mr. Alfredo has been a volunteer with FCPR. He joined us as a member of our Board of Directors and participated in the Executive, Program and Investment Committees. He was also a member of the Board of Directors of the FCPR Community Investment Fund Inc. and participated in the grant evaluation committees. “She did everything with love,” noted FCPR President and CEO Dr. Nelson I. Colón Tarrats.
“The Foundation is a philanthropic institution, we are philanthropy. If you take out the philos, The processes in the foundation, which is love, are left with only empty transactions. Alfredo, all the work he did here, he did it with a very high level of philos, He added, ”He had a lot of love and dedication, and it showed," he added.
As an example, he recalled how Alfredo would introduce the “difficult questions”, expressing that he did so with respect and affection.
For her part, Camille recalls Alfredo's desire to help the Community Foundation, and that it became a new love during his last stage of life. “He had faith in what he was doing. Every time he had a Zoom (with the FCPR team), his eyes would light up. He was intense in everything he did,” he noted. “Today we are very happy that we are doing this. During his last week, he asked us to help people with education,” he added.
“To have a fund in his memory and preserve his legacy is an honor,” added FCPR Finance Director Noelia Marín.
Main photo: In the back, Mary Ann Gabino, FCPR senior vice president. Front from left, Luis Salazar Geigel, son; Camille Toro Torruella, wife and fund representative; Dr. Nelson I. Colón Tarrats, FCPR president and chief executive officer; and Carlos Salazar Geigel, son. Photo 1 Luis Salazar Geigel and Camille Toro Toruella. Photo 2 Carlos Salaza Geigel Photo 3 Back, Nelson J. Díaz, FCP Administrator, and, in the foreground, Noelia Marín, Finance Director (Libni Sanjurjo).