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Press Release, July 1, 2004

For Immediate Release – July 1, 2004

The Point Foundation Names New Executive Director, Grants More Than $1 Million in Academic Scholarships for LGBT Youth

Foundation is the First to Dedicate Itself to LGBT Scholarship and Mentoring

Chicago, Ill. (July 1, 2004) — The Point Foundation, the first national foundation to support academic achievement in higher education among lesbian, gay, bisexual and transgender (LGBT) youth, today announced that it has named Vance Lancaster as its Executive Director and has invested more than $1 million in scholarship funding.

The Point Foundation is the largest nationwide LGBT scholarship foundation, focused exclusively on granting scholarships to undergraduate, graduate and post-graduate students of distinction. The foundation is a lifeline for students in need, providing not only multi-year financial grants, but also positive support, mentoring, networking and internship opportunities to young people marginalized because of their sexual orientation or gender identity, often abandoned and rejected by their families and unable to find support and community.

A Point Scholarship is the most substantive academic award of its kind, covering the cost of tuition, books, supplies, room and board, transportation and living expenses and allowing students to excel in the classroom, on campus, and in their communities. In addition, Point Scholars are matched with mentors from the professional world who serve as positive role models and provide personal support, ensuring that students build a foundation of leadership skills they can use throughout their lives.

“The foundation has seen such rapid growth since it began just three years ago, and we realized that we needed someone with Vance’s unique blend of development skills and academic experience as we continue to be successful in the future, ” said Bruce Lindstrom, founder and chairman of The Point Foundation. “We’re thrilled to have Vance on board. His reputation as a leader is already benefiting The Point Foundation. When the philanthropist Michael Huffington learned that Vance was joining us, he pledged a $100,000 matching grant.”

Formerly the Director of Strategic Giving at the Gill Foundation, Lancaster has a distinguished academic background and experience from both for-profit and not-for-profit corporations, as well as years of experience working within the LGBT community.

“I’m delighted to join the foundation during this period of tremendous growth and opportunity,” said Lancaster. “The Point Foundation is truly making a difference in the lives of students who need our support to become leaders in both the lesbian, gay, bisexual and transgender community and in their own communities,” said Lancaster.

In the past three years, The Point Foundation has invested more than $1 million in scholarships and programming to “Point Scholars.” This year alone, the Point Foundation will invest more than $500,000 in scholarships and programs to 25 students of distinction. The Foundation plans to double the number of students it supports in the next year, providing scholarship support to 50 students.

"The reason I work with the Point Foundation is because the needs of our scholars and potential scholars far outweigh the resources currently available to them," said New York trustee Harvey S. Shipley Miller. "Our growth under Vance's leadership will enable the Point Foundation to help many more young people achieve their goals and dreams," concluded Miller.

Annually, the Point Foundation selects a range of students who are racially, ethnically, geographically and academically diverse. The young men and women to be awarded 2004 Point Scholarships will earn their undergraduate and graduate degrees at some of the nation’s most prestigious institutions of higher learning and pursue studies in a range of academic areas.

At The Point Foundation, every dollar donated is used to support the Point Scholars because the founders, the board of directors, and an anonymous donor cover all administrative and fund-raising efforts required running the organization. More information about the Point Foundation can be found at http://www.thepointfoundation.org.

Editor’s note: for a high-resolution photo of Vance Lancaster or more information, please call the contacts listed above.

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