Wanting to create a hub of networking and guidance for seniors at Oak Park and River Forest High School who are pursuing business careers, an alum is putting his own money to work, creating a business scholarship for seniors.
Grayson Adelstein, 18, and a 2023 graduate of OPRF, said he wanted to give back and help others the way he was helped financially, through a scholarship.
Adelstein, who is a double major in finance and entrepreneurship at the University of Illinois-Urbana-Champaign, said an important pillar of the full-ride scholarship he received was community service.
“I started thinking and brainstorming ideas of ways for me to give back to my community,” Adelstein said. “I felt it didn’t make sense to receive such a big gift and such a big scholarship and not give anything in return.”
After brainstorming, Adelstein said he wanted to ensure whatever he came up with would benefit OPRF students, saying he was very involved in the high school and was a part of the business club and other activities that enriched his high school experience.
For upcoming graduating seniors who show an interest in business, Adelstein created a $1,500 college scholarship to help the awarded student.
To be eligible for the scholarship, the applicant must be a graduating senior who has demonstrated interest in business coursework, activities, or through professional experience, have a minimum unweighted 3.0 GPA, and is either majoring or minoring in business.
Adelstein began brainstorming the concept of the scholarship this summer and met with the high school as well as the Oak Park-River Forest Community Foundation to work on the scholarship guidelines.
Carrie Summy, philanthropic advisor at the foundation, said they were proud to partner with Adelstein, saying they came in to provide expertise and oversight to ensure the scholarship’s success as scholarships are a very “special philanthropic activity” that require a lot of consideration, administration, and compliance.
“It’s wonderful when young adults like Grayson recognize key moments in their life in which they are truly grateful, and then turn that gratitude into something significant for others, following through with full heart and open mind,” Summy said.
But that is not all.
Maybe more valuable than the $1,500 will be the access the awarded student will have to an “advisory board” composed of other OPRF alumni who are pursuing business at various universities that will provide mentorship.
“The first component is financial because I know that the cost of college is always increasing and it is a big burden for a lot of people,” Adelstein said. “But the alumni mentor board offers many different resources to recipients, including academic support, networking support, resume and interview preparation, internship searching and recruiting tips, and really any support in any other business areas.”
The idea of the advisory board came to Adelstein as he looked back to his own interest in business and how much of that was sparked by the great relationships he was able to build and foster with others around him, leading him to where he is now.
Hand selecting the eight members that are currently on the board, Adelstein said they are dedicated to helping others navigate what they might have had to navigate on their own, adding that they each have something unique to offer the scholarship recipients.
“I think these different resources are just as important,” Adelstein said. “That is what helps people get off on the right foot.”
Pulling people from his own networks and classmates, Adelstein said he tried to pick individuals who were interested in different aspects of business including entrepreneurship and the finance sector, and he believes they will all make great assets.
Because it is the first year the scholarship will be available, Adelstein said it is serving as an experimental year to hash out what works and what does not work in terms of the advisory board. However, he is already thinking of different ways the recipient could take advantage of the board, including bi-weekly or monthly Zoom meetings, or having the recipient fill out information on what they are interested in receiving from the mentors.
“The biggest thing that I envisioned is having close contact between the recipients and the board so they know that we are always there,” Adelstein said. “I am still brainstorming with the board about what is the best way for the recipient to be able to fully utilize the board to its greatest capacity.”
To be able to launch the scholarship, Adelstein said an initial contribution of $10,000 needed to be made, which will then be awarded through $1,500 non-renewable scholarships to new students each year.
Investing in his own idea was extremely important to Adelstein, who said he contributed the $10,000 from his own funds, money which he made through his business endeavors.
According to Adelstein, the initial pledge of $10,000 is currently being invested and with the gains the fund should be able to self-sustain itself for many years to come, but he hopes to be able to continue to invest in it in the future.
“I think for now, I think I would really like to continue to fund it by myself because it started as my way of giving back and using the funds I had previously saved for college or gained from previous business ventures that I was going to use for college but didn’t because of the funds I received,” Adelstein said, adding that if the scholarship continues to grow and evolve into grants or other areas, he would consider taking on partners or donations.
Adelstein said he is working closely with teachers at OPRF, including a video presentation for them to share with seniors, to raise awareness around the scholarship.
“I am really excited to see what is going to happen with the scholarship,” Adelstein said. “I think the most special thing is that this has so much room for long term growth and I am excited to see what it turns into.”
