Philanthropist Carlos Alvarez originally donated $525,000 to the Gambrinus Scholarship Endowment in 2002.
By Sarah F. Morgan
At the Aug. 20 regular board meeting, Carlos Alvarez, owner of the Gambrinus Company, announced he would make the endowment for the Gambrinus Scholarship total $1 million.
Gambrinus Co. is a brewing company founded in 1986 with its headquarters in San Antonio.
“I think that $750,000 is not a very round figure, so I think we’ll make that a one-million-dollar contribution,” Alvarez said.
Alvarez referred to the current standing of the endowment fund he created in 2002, which he approximated “in compound interest about $750,000.”
Alvarez originally donated $525,000 to the Alamo Colleges in 2002.
The room stood and applauded the announcement.
Since 2002, 175 students have received the scholarship, Sheila Marlow Due, executive director of the Alamo Colleges Foundation, said at the Aug. 20 regular board meeting.
Seventeen students will receive the scholarship this school year.
When the fund was created, Alvarez challenged the Alamo Colleges Foundation to match his endowment over a span of 20 years.
The Foundation has since matched $950,000 to the endowment, Due said.
“These (funds) would be for scholarships that have been the greatest credit a student can receive, when they don’t even know what a credit card means,” Alvarez said. “… They get credit that makes the students and their families incredibly deserving and they use it very wisely.”
Eligible applicants for the Gambrinus Scholarship must be full-time, first-time-in-college students, with a cumulative high school grade-point average between 74 and 85 and participate in the 2+2 Transfer Program or Joint Admission Program.
The Gambrinus Scholarship Endowment goes toward students from every college in the Alamo Colleges District.
Alvarez gave two $1 million contributions to St. Mary’s University in February and April 2019, in support of their science, engineering and technology building and international students’ scholarship endowment.
To apply for a scholarship from the Alamo Colleges Foundation, go to www.alamo.edu/foundation/scholarships/.