The Koret Foundation, a Jewish philanthropic organization based in San Francisco, has donated $1.63 million to CSU Monterey Bay. The funds will be distributed over five years to be used for: supporting students to complete their college studies in four years, providing impactful research opportunities for first-generation scholars, and preparing young people for community and national leadership roles, a news release said.

The foundation gave a total of more than $50 million in new grants to Bay Area colleges and universities at a time when many institutions were already dealing with significant organizational and funding issues, which are now even more pressing due to the coronavirus crisis. Other schools receiving varying amounts of grants include UC Berkeley, Stanford, University of San Francisco, City College of San Francisco and CSU East Bay.

“Investing in the next generation of talent, innovation and leadership is critical in order to ensure that all students, including the disadvantaged, have the opportunity to lead productive and successful lives,” said Michael Boskin, foundation president.

“Koret’s Higher Education Initiative seeks to support key academic institutions in the Bay Area and fund programs that can spark new thinking, facilitate partnerships, and contribute to student success. Universities were already facing challenges, which are now deepened and accelerated by the coronavirus and recession. We believe now is a critical time to provide long-term support for these institutions.”

Altogether, the grants will directly benefit students, faculty and staff across 12 different schools, including nearly 2,000 first-generation Koret Scholars program participants, as well as thousands of recipients of scholarships, research grants, mentorship programs, career preparation and other services.