For Immediate Release

February 8, 2006

LANSING — The largest fundraising drive in the history of the Michigan Retailers Foundation, the college scholarship fund of the Michigan Retailers Association (MRA), has achieved its goal of boosting foundation assets to $1 million.

The nonprofit educational foundation raised more than $565,000 through its "Links to a Legacy" campaign that began in late 2002. The goal of the drive was to reach the $1-million mark in order to increase the number and size of college scholarships the foundation awards annually. Interest earnings on foundation assets pay for the scholarships.

MRA also announced the start of its scholarship competition for the 2006-07 academic year. The program will award at least 23 scholarships this spring to MRA members and their employees and children.

Scholarships are $1,000 for public and private university and college students and $500 for those attending community college. The competition is open to high school seniors and college freshmen, sophomores and juniors. The awards are not based on financial need.

Eligible students may apply online at https://www.scholarshipadministrators.net/spa_login.asp (access code: MIRA). Students may also contact MRA's Retha Lachance at 800.366.3699 or rlachance@retailers.com by March 15 to request a mailed application. Applications must be completed and submitted by April 1.

The competition is managed by Scholarship Program Administrators of Nashville, Tennessee.

The foundation was established in 1968 but had never mounted a concerted fundraising drive until late 2002, when the MRA Board of Directors set an ambitious goal of more than doubling foundation assets to $1 million. D. Larry Sherman of Birmingham, retired owner of the former Sherman Shoes footwear stores, chaired the successful fundraising drive.