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In response to the letter (May 14) concerning black businesses, I take exception to Golden State Mutual being named as not reaching out in the community.

In 1974, Golden State Mutual founded the Golden State Minority Foundation, which assists financially disadvantaged African-American and other underrepresented college students to get an education. Since its inception, the foundation has awarded more than $1.7 million in scholarships and grants to these students, and has financially assisted other programs addressing the needs of minority education.

The foundation holds an annual fund-raising event to benefit these minority college students (this year that event will be held on June 2). In addition to providing 20 scholarships to these outstanding students, the foundation also plans to provide grants and assistance to public and private schools at all grade levels to meet some of the financial needs that have been exacerbated by recent events.

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Golden State Minority Foundation is a nonprofit, public foundation, which depends on public support to continue its efforts. Black businesses like Golden State Mutual, Broadway Federal and Family Savings contribute to this organization because they also believe in the need to support minority education. Our motto is “Investing today in people for tomorrow.”

IVAN ABBOTT HOUSTON

Executive Director, Golden State

Minority Foundation, Los Angeles

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