The New York Chapter of RIMS said it has donated $50,000 to the Spencer EducationalFoundation to create the New York City-basedfoundation's first named part-time master's scholarship.

This is the chapter's third named scholarship withthe foundation, which will award scholarships worth up to$10,000 annually to support risk management professionals pursuingmaster's degrees.

“RIMS New York Chapter has been a leader in supporting riskmanagement and insurance education,” said Ron Davis, newly electedchairman of the Spencer Educational Foundation. “This giftcontinues that leadership and provides risk managementprofessionals with additional financial support to further theireducation.”

Four part-time master's degree scholarships will be awardedthrough this gift, starting in 2017.

The RIMS New York Chapter previously established two namedscholarships for undergraduate students: the Dante PetrizzoMemorial/RIMS NY Chapter Scholarship and the Thomas ReganMemorial/RIMS NY Chapter Scholarship. This gift will awardfour part-time master's degree scholarships, with the first beingawarded in the spring of 2017.

“The New York Chapter feels very strongly that the SpencerEducational Foundation is an important and relevant way to supportthe risk management community,” said RIMS New York ChapterPresident Ellen R. Dunkin. “We are excited to be in a position tocontinue our sponsorship of the foundation and the professionaldevelopment opportunities the foundation offers.”

In February, the chapter pledged $450,000 to the SpencerEducational Foundation to fund risk management and insuranceeducation program — three installments of $150,000 a year werescheduled to be paid over a three-year period.

Related: RIMS gives $450,000 for risk management andinsurance education