This is the first scholarship disbursement The Azmat A. Assur Foundation through the Assur Fund, established at the Puerto Rico Community Foundation.
Ponce | Wednesday, October 2, 2024 Fifty-two students from the southern area of Puerto Rico, primarily studying STEM – Science, Technology, Engineering, and Mathematics – received an economic boost by being selected as scholars of the Assur Fund. They thus became the first group of students to receive scholarships from the Fund, established in the Puerto Rico Community Foundation (FCPR) by The Azmat A. Assur Foundation. Philanthropic investment in the development of local human capital totals $182,000.
Mostly, the student group comes from towns in the southern area of Puerto Rico and is studying associate's degrees, bachelor's degrees, master's degrees, or doctorates in STEM; some are employees or descendants of employees of Peerless Oil & Chemicals, Inc.
“The Azmat A. Assur Foundation was founded by Ann Marie Assur in 2022 following the passing of Mr. Assur. He was the owner of Peerless Oil & Chemicals, Inc. and developed the business in Puerto Rico for over 30 years. Assur always affirmed that the business had been created on the island and that the profits should also remain on the island. We believe the best way to continue his vision is by investing in Puerto Rico’s students and their education. We are very excited to see these students continue their studies with our support,” he said. Robert Finnerty, Vice President of the Board of Directors The Azmat A. Assur Foundation.
The Assur Fund was established in the FCPR in 2023 by The Azmat A. Assur Foundation to encourage talented students to specialize in STEM subjects. Some of the professions these students pursue include: engineering, veterinary technology, biomedical sciences, psychology, accounting, information systems, medicine, optometry, and others.
“This is the first time I've received a scholarship (the only thing I had was FAFSA), and it's very important to me because I can continue my studies without worry. I consider it a great opportunity,” she said. Maleidy A. Parilla Figueroa, microbiology student, during the Assur Fund scholarship award event, held last September 28th in Ponce.
“This scholarship award increases Puerto Rico's human capital and encourages each student to pursue their dreams. Assur Foundation ”has an extraordinary commitment to the professional development of our students, which is why it has been an honor to facilitate the scholarship award process for you," said the president and chief executive officer of the FCPR, the Dr. Nelson I. Colón Tarrats.
The FCPR manages 97 funds, 39 of which provide scholarships to students, while the remainder are allocated to grants for nonprofit organizations. In 2023, 324 scholarships were awarded, representing a philanthropic investment of 1,473,092; and 76 grants were made to nonprofit organizations, equivalent to a philanthropic investment of 1,600,000.