NEWPORT – Oliver Hazard Perry Rhode Island was awarded $500,000 from the Allette Morris McBean Charitable Foundation and a $250,000 matching grant from the Stratus Foundation.
The $500,000 grant from the Alletta Morris McBean Charitable Foundation will support the re-construction of the 196-foot, 13-and-a-half story tall ship the SSV Oliver Hazard Perry.
The grant builds upon $300,000 in previous funding from the foundation, making it the largest donation to the $7.4 million project.
“The Alletta Morris McBean Charitable Foundation has shown its faith in this bold educational, cultural and economic development project, and we are honored by the foundation’s trust in our plans and our progress,” Bart Dunbar, chairman of OHPRI, said in prepared remarks.
The Alletta Morris McBean grant triggered a $250,000 matching grant from the Status Foundation, which issued a 2011 challenge to any organization willing to give the project a $500,000 grant.
The matching grant increased the Status Foundation’s investment in the project to $500,000.
OHPRI hosted its third annual fundraising event two weeks ago and, according to Dunbar, the event netted more than $57,000 for the project.
“This has been a $1 million month for the SSV Oliver Hazard Perry,” said Dunbar.
OHPRI has raised more than $5.4 million and is focused on raising a final $2 million. The ship, which is on schedule for a commissioning in 2013, is actively under construction at the North Kingstown-based Senesco Marine.
Once built, the Oliver Hazard Perry is expected to support and enhance academic achievement in science, technology, engineering, arts and mathematics, as well as sail training, leadership development and career path exploration.
PBN's annual Book of Lists has been an essential resource for the local business community for almost 30 years. The Book of Lists features a wealth of company rankings from a variety of fields and industries, including banking, health care, real estate, law, hospitality, education, not-for-profits, technology and many more.