FLORENCE – The PSARAS Foundation, a Columbia based nonprofit organization, has identified the Francis Marion University Foundation to continue its legacy to improve the lives of South Carolinians.
For 20 years, the PSARAS Foundation has been primarily engaged in supporting education and community services within the state of South Carolina through its financial support.
The latest grant to the university from PSARAS is for $2 million and will be used to create a donor advised fund to be administered by the Francis Marion University Foundation. Grants will be distributed over the next 10 years.
Previous grants from PSARAS, including an earlier grant this year of $2 million, have been used by the university to endow the McNair Scholars Program and begin rural leadership and preventive health initiatives within the I-95 Corridor.
“We are proud that the PSARAS Foundation has always had confidence in this university and our overall programs. Fortunately this has resulted in a number of substantial gifts over the past several years,” said FMU President Luther F. Carter. “
The most recent gift will bring the university’s overall capital campaign close to $60 million.
Of James Konduros, who has served as the chairman of the PSARAS Foundation since its formation in 1990 Carter said, “Jim has always been attuned to the needs of our students and faculty, and visionary about the ways that scholarly inquiry can improve the quality of life in the state. This endowment is a fitting tribute to his dedication and service to South Carolina and its citizenry.”
Francis Marion University, founded in 1970, is one of South Carolina's 13 state-supported universities. As one of the state's six comprehensive institutions, FMU prides itself on providing a strong liberal arts education for its 4,000 students.