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The Ric Gonzalez Memorial Foundation was created in 2004 to honor the life and gifts of Fredrick Julian Gonzalez.

Each year, the foundation provides scholarships to deserving Hispanic students living in Southeast Michigan. So far 208 scholarships have been awarded totaling $818,000. Scholarship funds can be used towards whichever school the students chooses to attend and can even be used for books and other necessary school supplies.

The Foundation solicits donations through direct appeals and fundraising events. The goal is to build an equity fund invested in a portfolio of high quality stocks and bonds through a recognized brokerage. The investment criteria are to maintain the equity and generate income. The income is then used to provide scholarships to Hispanic Youth from Southeast Michigan, helping them attend the College or University of their choice.

All directors and staff of the Foundation are volunteers.  Only routine expenses such as printing costs, mailing and costs associated with fundraising events will be drawn from the equity fund.  The Foundation has been granted 501(c)(3) status by the IRS assuring that all donations are tax deductible to the full extent of the law.