This is the first scholarship award by 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 region of Puerto Rico, most of whom are pursuing studies in STEM fields—Science, Technology, Engineering, and Mathematics-received financial support after being selected as scholarship recipients of the Assur Fund. They became the first group of students to receive scholarships from the Fund, which was established at the Puerto Rico Community Foundation (FCPR) by The Azmat A. Assur Foundation. The philanthropic investment in the development of local human capital totals $182,000.
Most of the students come from municipalities in southern Puerto Rico and are pursuing associate, bachelor’s, master’s, or doctoral degrees 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 after the passing of Mr. Assur. He was the owner of Peerless Oil & Chemicals, Inc. and developed the business in Puerto Rico for more than 30 years. Mr. Assur always stated that the business was created on the island and that the profits should also remain on the island. We believe that the best way to carry on his vision is by investing in Puerto Rican students and their education. We are very excited to see these students continue their studies with our support,” said Robert Finnerty, Vice President of the Board of Directors of The Azmat A. Assur Foundation.
The Assur Fund was established at the FCPR in 2023 by The Azmat A. Assur Foundation to encourage talented students to specialize in STEM disciplines. Some of the fields these students pursue include engineering, veterinary technology, biomedical sciences, psychology, accounting, information systems, medicine, optometry, and others.
“This is the first time I’ve ever received a scholarship (I only had FAFSA before), and it means a lot to me because now I can continue my studies without worry. I consider it a great opportunity,” said Maleidy A. Parilla Figueroa, a microbiology student, during the Assur Fund scholarship award ceremony held on September 28 in Ponce.
“This scholarship program strengthens Puerto Rico’s human capital and motivates each student to move forward with their dreams. The Assur Foundation has an extraordinary commitment to the professional development of our students, so it has been an honor to facilitate the scholarship granting process,” said Dr. Nelson I. Colón Tarrats, President and Chief Executive Officer of the FCPR.
The FCPR manages 97 funds, 39 of which award scholarships to students, while the rest provide grants to nonprofit organizations. In 2023, the Foundation awarded 324 scholarships, representing a philanthropic investment of $673,092, and 76 grants to nonprofit organizations, equivalent to an investment of $1.6 million.
Assur Foundation
The Azmat A. Assur Foundation stands as a beacon of hope and opportunity, inspired by the indomitable spirit and legacy of our benefactor, Azmat Assur. His vision—born of a lifetime of entrepreneurial dedication in Ponce, Puerto Rico—fuels our mission to empower the next generation of innovators, thinkers, and leaders in the fields of science, technology, engineering, and mathematics through annual grants and scholarships.
Puerto Rico Community Foundation (FCPR)
A philanthropic organization with 39 years of experience working alongside donors and communities to strengthen their capacities by increasing community capital. It is the first foundation of its kind in the Caribbean and Latin America and the only one of its kind in Puerto Rico. Its current programmatic focus includes promoting access to renewable energy. The Foundation is recognized as a 1101.1 organization under the Puerto Rico Internal Revenue Code and a 501(c)(3) organization under the U.S. Internal Revenue Code.
Check Related Articles: