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Machuga Foundation Donates $1 Million to William Paterson University Wayne, New Jersey (April 29, 1999) -- The John Victor Machuga Foundation will donate $1 million to the William Paterson University Foundation. The donation marks the first $1 million gift in the history of the University.
"It's an extraordinary gift," says Arnold Speert, president of William Paterson. "We are very proud that the trustees of the Machuga Foundation have chosen to recognize William Paterson University in such a positive way. Gifts of this size are truly uncommon, especially at public universities. Thanks to the foundation's support, the University can attract students for whom a college education is financially out of reach. It's a wonderful opportunity for students to achieve their personal goals and for the University to fulfill its mission. We are extremely grateful to the Machuga Foundation for its confidence in our programs and its commitment to our students." John Victor Machuga was an entrepreneur and investor who grew up in Paterson during the Depression. In his will, he directed that his assets be used to create a foundation to provide support for education, research, the arts, and health care. The foundation that bears his name was founded in 1995. Machuga also directed that his five closest friends be named as trustees of the foundation to ensure that his dreams were realized. Over the past two years, the Machuga Foundation has provided $76,000 in scholarship support to several William Paterson University students from Rosa Parks High School in Paterson. "John Machuga was born, worked and died in Paterson," says Bruce Waldman, executive director of the Machuga Foundation. "William Paterson University, which was founded in Paterson and continues to maintain strong connections to the city, is an entirely appropriate recipient of this grant, the largest we've ever given, especially since much of the funding will be used for scholarships for needy students." William Paterson University, one of the nine state colleges and universities in New Jersey, is dedicated to two key principles: academic excellence and student success. With an annual budget of $96 million, the University offers 29 undergraduate and 17 graduate programs to more than 9,000 students. Many of the institution's 342 full-time faculty have been the recipients of awards and grants from such prestigious agencies as the Fulbright Council, the Guggenheim Foundation, the National Endowment for the Humanities, the National Institutes of Health, the American Cancer Society, the National Science Foundation, and the American Philosophical Society.
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The gift, to be distributed
over seven years, will include $350,000 in scholarships for financially
needy students, $350,000 to endow the John Victor Machuga Scholarship
Fund for high-achieving students, and $300,000 to fund new initiatives
in student programming at the Student Center. In recognition
of the gift, the Student Center will be renamed the John Victor
Machuga Student Center.