The families of two of Orange County more prominent business executives and philanthropists are joining together, to advance educational opportunities and the well-being of the area’s underserved communities.
David Sun, co-founder and chief operating officer of Fountain Valley’s Kingston Technology Corp., and his wife, Diana, last month pledged $1.75 million in annual contributions to expand the Simon Scholars Program.
Simon Scholars is a six-year scholarship program sponsoring underserved, mostly first-generation students from the end of their sophomore year of high school through college graduation.
The program is designed “for economically disadvantaged students who are determined to further their education and pursue meaningful careers,” according to the group, which is one of several nonprofit organizations under the Simon Foundation umbrella from Ron Simon, chairman of RSI Equity Partners in Newport Beach, his wife, Sandi, and their children.
The Sun’s annual pledge will expand the program to eight more local high schools and 65 additional students, bringing its total to 22 high schools and about 190 students.
Cabinets, Computer Memory
Ron Simon, who made his fortune in cabinetmaking and homebuilding, under the RSI Holdings umbrella, is estimated by the Business Journal to have a $1.25 billion fortune.
David Sun and John Tu founded Kingston in 1987; it has since grown to be one of the world’s largest memory products makers, along with numerous other electronics-related product lines, including e-gaming unit HyperX. The duo has an estimated wealth of some $4.8 billion each.
Partnering with an established, effective scholarship program made sense for Sun.
“In running our own scholarship program, it became clear to us that students need services beyond financial aid to ensure their success in college and beyond,” he said in a statement.
“By supporting the Simon Scholars Program, we can leverage the great work and investments that they have made in their program. We are excited and proud that our future scholarship recipients will now be Simon Scholars,” he added.
To date, the Simon Scholars program has sponsored more than 1,400 students, and awarded over $45 million in financial aid and support.
Experts in Education
The Sun family launched its own Sun Scholars Program in 2011.
In looking to grow their impact—they’ve supported more than 420 students with $9.3 million in nine years—the family sought mission alignment in a charitable partner, according to Joanna Kong, a representative of the family foundation and David’s niece.
“We were immediately drawn to the fact that they represented another Orange County family who cared as much as we do about educational equity,” Kong said of the Simon family.
Both programs support low-income, mostly first-generation college students in Southern California.
The Simon Foundations had already found solutions to several challenges, such as “how to create a sense of community among our scholarship recipients and how to make sure our students received the services they needed in college to persist and graduate.”
“Most importantly, their program values social and emotional development, which we understand to be essential for students who face challenging life situations,” Kong added.
The final draw, according to Kong, was the results of the Simon Scholars Program: it has a 96% acceptance rate for students applying to a four-year college.
Other statistics cited by the program: While only 25% of first-generation, low-income students attend a four-year university or college, 95% of Simon Scholars will do so. And while only 11% of first-generation, low-income students will graduate within six years, 92% of Simon Scholars will graduate in that time.
“It was clear to us from the start that the Simon Scholars Program had discovered the right formula for operating their programs and they have proven this model of success with various schools and many students across the nation,” Kong said.
In addition to their educational focus, the Sun Family Foundation said it plans to expand to issues including homelessness and food insecurity in Orange County.
The Sun family established its foundation in 1999.
Kong said, “The family has deep roots here and we want to give back to Orange County.”
