Gentex Establishes Charitable Giving Foundation and Announces New Scholarship for Women Seeking STEM Degrees

Rhea-AI Summary

Gentex Corporation has launched the Gentex Foundation, a nonprofit organization dedicated to charitable giving, alongside the Amanda Clark Scholarship for female high school seniors pursuing STEM degrees. The Foundation will focus on providing grants to nonprofits in various sectors, including economic development and diversity initiatives. Gentex, a major employer in Ottawa County with over 5,300 employees, recently announced a $300 million expansion that will create 500 jobs in West Michigan, reinforcing its commitment to community support and employee development.

Positive

• Launch of the Gentex Foundation for charitable initiatives.
• Establishment of the Amanda Clark Scholarship for female STEM students offering $5,000 renewable for up to three years.
• Announced $300 million expansion creating 500 new jobs in West Michigan.
• Enhanced support for Spanish-speaking employees through an employment program.

Negative

• None.

ZEELAND, Mich., Oct. 10, 2022 (GLOBE NEWSWIRE) -- Gentex Corporation announced today that it has established the Gentex Foundation, a charitable giving nonprofit, and has established a new scholarship for female high school seniors pursuing a degree in science, technology, engineering, or math (STEM).

Gentex is a technology company and leading supplier of digital vision, connectivity, sensing, and dimmable glass technologies for the global automotive, aerospace, and fire protection industries. 

The Gentex Foundation will provide financial grants to organizations in the United States to support charitable causes in a wide variety of areas, including economic development, children’s services, public health, housing assistance, and diversity initiatives, to name a few. It will be managed by a board of directors that will review grant applications with focused attention on nonprofit organizations operating in the communities where Gentex employees live and work, and which reflect the Foundation’s values of integrity, compassion, innovation, and diversity.

In addition to the Foundation, Gentex has established the Amanda Clark Scholarship program to recognize female high school seniors in West Michigan who are pursuing a STEM degree at a four-year college or university. Recipients are eligible to receive a $5,000 scholarship that can be renewed up to three years. The scholarship was created in memory of Gentex employee, Amanda Clark, who earned a manufacturing engineering degree from Kettering University and worked at Gentex for 8 years, using her technical skills in a variety of roles.

“For nearly five decades, as one of the area’s leading employers, we’ve sought to make a positive impact on West Michigan,” said Gentex President & CEO Steve Downing. “As we continue to grow, serve new markets, and engage in new communities, the Gentex Foundation will allow us to enhance our charitable giving program to better support the needs of the communities in which we operate.”

Gentex is Ottawa County’s largest employer, with over 5,300 employees. In July, the company announced a $300 million expansion in the city of Zeeland and Zeeland Charter Township, which will create 500 new jobs in West Michigan. The company also recently announced the expansion of its Spanish-speaking employment program, which removes barriers to employment and career growth for employees not proficient in English.

Founded in 1974, Gentex Corporation (NASDAQ: GNTX) is a supplier of automatic-dimming rearview mirrors and electronics to the automotive industry, dimmable aircraft windows for aviation markets, and fire protection products to the fire protection market. Visit the company website at www.gentex.com.

Gentex Media Contact
Craig Piersma
(616) 772-1590 x4316
craig.piersma@gentex.com

Gentex Investor Relations Contact
Josh O’Berski
(616) 772-1800 x5814
josh.oberski@gentex.com

FAQ

What is the Gentex Foundation?

The Gentex Foundation is a nonprofit organization aimed at charitable giving in various sectors like economic development and diversity.

What is the Amanda Clark Scholarship?

The Amanda Clark Scholarship provides $5,000 per year to female high school seniors in West Michigan pursuing STEM degrees.

How many jobs will the recent Gentex expansion create?

The recent $300 million Gentex expansion is set to create 500 new jobs in West Michigan.

When was the Gentex Foundation launched?

The Gentex Foundation was launched on October 10, 2022.

What industries does Gentex Corporation operate in?

Gentex Corporation operates in the automotive, aerospace, and fire protection industries.