Beene Foundation Adds $2M to YMA Kitty

by MR Magazine Staff May 29, 2007

NEW YORK – The Geoffrey Beene Foundation will contribute $2 million to the YMA Fashion Scholarship Fund over the next five years, underwriting a major portion of the YMA’s annual awards dinner and allowing the group to establish a new national scholarship.

The bequest is in addition to the $1 million contribution made by the Beene foundation in 2006.

The annual dinner will be renamed The YMA Geoffrey Beene Fashion Scholarship Dinner in honor of the designer, who died of complications from pneumonia at 77 in 2004.

Additionally, beginning this year, four outstanding students majoring in fashion and related disciplines will receive The Geoffrey Beene National Scholarship and each will receive $25,000 scholarships.

“We are gratified by the foundation’s continuing generosity and belief in our mission,” said Virginia Mainiero, president of YMA Fashion Scholarship Fund. “This contribution exemplifies Geoffrey Beene’s passion for educating young people and will enable us to significantly expand our scholarship program in support of outstanding college students planning careers in our industry.

“Our hope,” she continued, “is that when they are successful, they will assume an active role in encouraging the next generation of gifted students to join our industry. This strikes me as a fitting way to perpetuate the enduring legacy of the great Geoffrey Beene.”

Tom Hutton, president of Geoffrey Beene and trustee of the foundation, commented, “Geoffrey Beene has always stood for excellence, and the best way to achieve excellence is through education. The Geoffrey Beene Foundation is proud to be at the forefront of the fashion industry by giving back and supporting highly qualified students to achieve their goals and dreams.”

In 2007, YMA provided grants totaling $450,000 to 90 students from 25 different schools across the U.S.

YMA Fashion Scholarship Fund is a non-profit organization dedicated to advancing the fashion industry through scholarships, mentoring and internship programs for emerging talent.