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Philanthropy lessons – Graduating senior endows scholarship

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A high school senior has endowed a college scholarship in honor of his childhood friend who died of leukemia at age six, the Associated Press reports.

David Glattstein, who lost his friend Matthew Kamin twelve years ago, created the scholarship with some of the $20,000 he earned on the stock market. The first scholarship will be awarded to a graduating senior at Swampscott High School in Boston, where Matthew would have graduated with Glattstein.

Glattstein endowed the scholarship anonymously last year, and only went public at the request of Matthew’s grandfather, Harvey Michaels. “What David is doing is unheard of,” Michaels said. “It’s unselfish, it’s magnanimous, it’s genuine.”

Glattstein began investing in high-tech companies when he was 15, using money from his bar mitzvah. In three years, his account grew from $6,000 to $22,000.

Scholarship recipients are chosen based on their answer to this essay question: Define the meaning of living life to its fullest. Glattstein and Matthew’s grandfather will choose the winner.

For a full text of the story, go to the Associated Press.

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