Business scholarship endowed by foundation

STAFF REPORT

YOUNGSTOWN — The Cafaro Foundation is donating $50,000 to endow a new business scholarship at Duquesne University in Pittsburgh.

The William and Alyce Cafaro Endowed Scholarship will provide assistance to a worthy student attending the University’s A. J. Palumbo School of Business Administration or the John F. Donahue Graduate School of Business.

Qualifications for the scholarship include those with a grade-point average of at least 3.0 and demonstration of financial need or academic merit.

The scholarship is dedicated to the memory of William M. Cafaro, founder of the real estate development and management company that bears his name.

For more than a half-century, Cafaro and his wife, Alyce, quietly supported churches, schools, hospitals and other charitable causes. In many instances, Cafaro would insist on making his gifts anonymously.

Duquesne University is a Catholic institution, established by the Congregation of the Holy Spirit in 1878 and currently educating more than 10,000 students in 11 separate schools.

The Cafaro Foundation is a charitable entity established by the Cafaro family. The Youngstown-based Cafaro Company is one of America’s largest privately held real estate development firms, managing more than 30 million square feet of property in 11 states.