Universal Property & Casualty Insurance Company makes $4 million contribution to Step Up For Students Scholarship Program
DECEMBER 13, 2018 | Boca Raton, FL
Step Up For Students announced Dec. 4 a $4 million contribution to the Florida Tax Credit Scholarship Program from Universal Property & Casualty Insurance Company (UPCIC), a wholly owned subsidiary of Universal Insurance Holdings, Inc.
The $4 million donation will fund 565 K-12 scholarships for the 2018-19 school year, so lower-income children can attend the school that best meets their learning needs. This is the second year that UPCIC has partnered with Step Up For Students and has contributed a total of $6 million to the scholarship program.
“We are grateful for corporate donors like Universal Property & Casualty Insurance Company who are helping to provide educational opportunities for Florida schoolchildren,” said Joe Pfountz, chief financial officer of Step Up For Students. ““The company’s generosity is crucial to the work our team does and shows just how much they really care about Florida’s kids and its future.”
Step Up For Students is a nonprofit organization that helps manage the income-based Florida Tax Credit Scholarship Program. The program is funded by corporations with tax-credited donations and allows parents and students to choose between a K-12 scholarship to support private school tuition and fees, or one that assists with transportation costs to out-of-county public schools.
“Universal is committed to giving back and empowering the communities that it serves to accelerate community opportunities and build the foundation for the next generation of business leaders,” said Sean Downes, chairman and chief executive officer for Universal. Dan Marino, UPCIC spokesperson, National Football League hall of famer and former Miami Dolphins quarterback made a special appearance and spoke to the schoolchildren at an event hosted by St. Joan of Arc School in Boca Raton, Florida.
“Having options and choice in where you go to school is important and I’m excited to see so many students here today who have access to the learning environment that best suits their individual needs,” said Marino. “We know that the education you receive will help propel you to do great things.”
For the 2018-19 school year, Step Up For Students is serving more than 98,500 students throughout Florida with tuition scholarships valued at up to $6,519 per student for kindergarten through fifth grade, $6,815 for sixth through eighth grade, and $7,111 for ninth through 12th grade. More than 1,800 private schools participate in the scholarship program statewide.
About Universal Property & Casualty Insurance
Universal Insurance Holdings, Inc., with its wholly-owned subsidiaries, is a vertically integrated insurance holding company performing all aspects of insurance underwriting, distribution and claims. Universal Property & Casualty Insurance Company (UPCIC), a wholly-owned subsidiary of the Company, is one of the leading writers of homeowners insurance in Florida and is actively writing business in 17 states. American Platinum Property and Casualty Insurance Company (APPCIC), also a wholly-owned subsidiary, currently writes homeowners multi-peril insurance on Florida homes valued in excess of $1 million, which are limits and coverages currently not targeted through its affiliate UPCIC. APPCIC is additionally licensed and has commenced writing Fire, Commercial Multi-Peril, and Other Liability lines of business in Florida. Learn more at Universalinsuranceholdings.com.
About Step Up For Students
Step Up For Students is a nonprofit organization that helps administer the income-based Florida Tax Credit Scholarship Program. Students who qualify for the national free or reduced-price lunch, or those who are homeless or in foster or out-of-home care, may qualify. The scholarship program provides tuition assistance to the private school of their parents’ choice or financial assistance to offset the transportation cost to an out-of-district public school. Since 2001, Step Up has awarded more than 680,000 scholarships.
A first-of-its-kind study on the long-term effects of the scholarship program by The Urban Institute found that students who use the scholarship four or more years are up to 43 percent more likely to go to college and up to 29 percent more likely to earn an associate degree than their peers.
Step Up also helps administer the state-funded Gardiner Scholarship for Florida students with certain special needs, plus two new scholarships, the Hope Scholarship for public school students who are bullied and the Reading Scholarship Accounts for third- through fifth-grade students enrolled in public school who struggle with reading.
For more information, visit: www.StepUpForStudents.org.