Estate of Raymond F. Damato Final Disbursement of $5.6 Million Brings Total MCC Bequest to $7.6 Million
MANCHESTER, Conn. (March 12, 2018) – The MCC Foundation received the final disbursement of the bequest made to Manchester Community College from the Estate of Raymond F. “Sonny” Damato. A check for $5.6 million was presented to the college last week.
In 2015 the MCC Foundation received its largest ever bequest from Damato, who passed away at the age of 86 on April 25, 2014 after a lifetime of dedication to the development of the town of Manchester. While the full Damato estate was being settled, portions were distributed during the past few years. The MCC foundation previously received nearly $2 million. With the liquidation of the remaining Damato real estate assets, his total bequest comes to $7.6 million. In honor of the generous gift, the MCC library and the campus Learning Resource Center building were renamed the Raymond F. Damato Library and the Raymond F. Damato Learning Resource Center.
Funding from the Damato bequest has been used to support retention grants to help continuing students remain in school, scholarships, lab and related fees, developmental courses and supplemental flexible funding as needed, as well as campus upgrades and program equipment.
The MCC Foundation’s holdings now exceed $11 million.
“This very generous donation enables the MCC Foundation to make a significant impact for our students,” MCC President Gena Glickman said. “We are excited and grateful to Mr. Damato, who valued public higher education and had connections to Manchester Community College.”
Damato began his first independent venture at the age of 20, when he started Frankie’s Drive-In, a successful hot dog stand. He went on to develop several apartment complexes and, over the course of his life, his real estate portfolio grew to nearly 400 units. He was an active board member for various community organizations, including the Savings Bank of Manchester, ECHN and the Eighth Utilities District of Manchester.
About MCC Foundation – Manchester Community College Foundation, Inc. is a nonprofit 501(c) 3 Connecticut corporation. It is governed by a volunteer board of directors, composed of business and community leaders who serve as advocates for the college and secure support for college priorities. Since 1968, MCC Foundation has supported the college’s strategic initiatives via funding for student scholarships, college programs, and equipment. MCC Foundation helps build a network of community support and promotes better public understanding of the college as a regional resource.
MCC Foundation also supports current students through a number of additional scholarship funds, and each semester scholarships awarded through the foundation help hundreds of deserving students achieve their academic dreams. Last year, the foundation awarded more than $200,000 in scholarships. For more information, visit www.manchestercc.edu/scholarships.
