Penn College receives largest one-time cash gift in its history

A significant gift from the Brook J. Lenfest Foundation will help Pennsylvania College of Technology students overcome financial barriers to higher education.

Brook J. Lenfest, the foundation’s founder and the chairman of NetCarrier Inc., visited Penn College on Tuesday to announce the $2 million contribution, which represents the largest one-time cash gift in the college’s history.

Combined with a matching $2 million gift from the Penn College Foundation, the contribution will establish the Brook J. Lenfest Endowed Scholarship Fund.

The fund will support three distinct initiatives: 

-    Creating scholarships for incoming students graduating from the Mastery Charter School system in Philadelphia. 
-    Providing Emergency Scholarship awards for currently enrolled students who are facing unexpected financial challenges that are threatening their ability to continue their education. 
-    Supporting Gap Scholarships for hard-working and deserving prospective students who are looking for the last bit of support to unlock their access to a Penn College education.

“The impact of this extraordinary gift will be felt for generations to come, not only by the students who directly benefit from it, but by the employers they serve, the families they support and the communities they help build,” said Penn College President Michael J. Reed.

Lenfest said that he believes education and the opportunity to pursue the American dream are great equalizers.

“What I noticed very quickly is that while a great education can be an equalizer in this country, the quality of the education many have access to is anything but equal,” he said. “I have tried to put a small dent in leveling the playing field for those motivated to improve their lives through hard work, determination and the pursuit of a great education.”

He lauded the partnership with the Penn College Foundation to impact twice the number of Penn College students.

Scholarship support has been the Penn College Foundation’s top priority since it was established in 1981, explained Nikki Crawford, vice chair of its Board of Directors.

“My fellow board members share a passion for expanding educational access, so when challenged by Brook’s match, there was no hesitation,” she said. “We are so thankful to partner with the Lenfest Foundation to increase opportunities for these hardworking students.”

A 2021 Lenfest Foundation gift has provided nearly $900,000 in scholarship support to Penn College students from southeastern Pennsylvania.

“Lenfest Scholars have pursued careers in automotive technology, construction, business, hospitality and healthcare. Doors have been opened to paid summer internships and clinical experiences yielding full-time position offers upon graduation,” Reed said. “One message consistently emerges from these students: Financial barriers often stand between potential and possibility. Through Brook’s generosity, those barriers are being removed.”

“I love organizations that magnify the impact I can have through my foundation alone,” Lenfest said. “Penn College has done that by doing an excellent job with their students, going above and beyond to make sure their students persist and thrive, and they constantly advocate for them. Their job placement rate and average earnings upon graduation are truly impressive.”

For more about giving opportunities at Penn College, visit www.pct.edu/give, email collegerelations@pct.edu or call 570-320-8020.

For information about Penn College, a national leader in applied technology education, visit www.pct.edu, email admissions@pct.edu or call toll-free 800-367-9222.