Averbeck gives largest donation




Campus Times
September 18, 1998

 

by Robert Parry
Staff Writer

The estate of a quiet philanthropist with whom most University of La Verne students are unfamiliar has presented the school with the largest cash gift it has ever received.

The $1.2 million contribution is in addition to another $1 million in gifts the University received from E. Elwell Averbeck during his life time.

The previous gifts went to the E. Elwell Averbeck Endowment, which provides scholarships and internships for students interested in careers in insurance. The new gift will be added to the current endowment and will continue to be used for the same purposes, said a University press release.

Averbeck was founder of the Averbeck Insurance Company. Currently based in Ontario, the 67-year old company's 35 employees focus on corporate insurance needs including property, casualty and employee benefits. He died in April of this year at the age of 92.

Raised in the Pomona Valley from age 2, and a graduate of UC Berkeley, Averbeck was a longtime, quiet supporter of the University of La Verne. He also donated significant amounts to Cal Poly Pomona and many other charitable causes in the area.

"Mr. Averbeck was known for his quiet philanthropy and was one of the most generous supporters of the University of La Verne," said ULV President Stephen Morgan.

"Thanks to his generosity, students at the University will have an opportunity to pursue their dreams," said Dr. Morgan.



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