The $100,000 Mackey Family Endowment Fund has been established with the Altoona Area School District Foundation by William and Edward Mackey.
Bill Mackey, a 1957 Altoona High School graduate, resides in Alexandria, Va. In addition to attending the U.S. Naval Academy, he received a bachelor's degree in engineering from the University of Pittsburgh, a master's degree in physics from Rensselaer Polytechnic Institute and a doctorate in systems engineering for the University of Pennsylvania. He also attained his doctor of jurisprudence degree from the American University.
Mackey retired from senior management of Computer Sciences Corp. in 2006. In November, he will be honored as an Altoona Area High School Alumni Association distinguished alumnus.
Ed Mackey graduated from Altoona High in 1959 and earned a bachelor's degree in engineering at the U.S. Military Academy. He received an master of business administration degree in finance from the Wharton School of the University of Pennsylvania and has completed course work at Penn State University and the University of Texas.
He was a member of the first class of the Advest Institute at Harvard University where he studied advanced portfolio analysis and statistical studies related to securities portfolios.
He resides in Indiana, Pa., where he is a senior vice president of investments and resident director of Merrill Lynch Inc.
Ed Mackey said, "My brother and I are very pleased to be able to begin this fund as a means of helping the school district's faculty add unique additional academic experiences to the classroom setting. We want to assist in promoting original thinking and creativity wherever and whenever possible and we hope to continue to add to this source of funds in the future.'
Bill Mackey said he believes that education is an essential ingredient to insure a more intelligent and more competitive student populace in the future. He said, "It is critical to our nation's ability to stay at the forefront of technology, science and business in such a highly-competitive world economy.'
Both brothers agree that "We realize how lucky we were to have had great teachers in the Altoona school system during our pre-collegiate days. Our Altoona educational experience allowed us to compete for and win appointments to the service academies.'
This is the 18th named endowment fund established since the program was initiated in 1999.
It enables donors to make contributions that are invested and grown to a targeted level in 10 years. At that time, annual earnings will be used to support innovative classroom projects that impact all children in the school district.
The AASD Foundation was established in 1987 to enhance educational opportunities for all students, kindergarten through grade 12, and to encourage excellence and innovation in Altoona classrooms.
For more information about the Named Endowment Fund program, contact Thomas M. Bradley, executive director, at 946-8424.