Ernest Posey Named 2024 Bernard Osher Philanthropist of the Year

Ernest Posey and the Posey Family Foundation have been selected as the 2024 Bernard Osher Philanthropist of the Year by the Network of California Community College Foundations, an association of local community college foundation professionals dedicated to philanthropy.

The award recognizes Posey’s transformative support for Pasadena City College students through his innovative low-interest loan program that has helped future nurses and teachers achieve their educational goals.

“The PCC community is grateful to Mr. Posey and his family for helping our students recognize their potential,” said President José A. Gómez, Superintendent/President of Pasadena City College. “Nurses and teachers help our friends and neighborhoods grow, and the need for these members of our community is only going to get stronger.”

Posey, a proud PCC alumnus who later graduated from Harvard University, credits the community college for setting him on a path to success, leading him to build a distinguished career in the medical device industry. His philanthropy has made him the second-largest donor in PCC’s history.

The Posey Low-Interest Nursing Loan Program, established in 2019 and administered by the PCC Foundation, offers student loans at significantly reduced interest rates. Since its inception, the program has provided more than $800,000 in microloans to 74 students, with five already repaying their loans and zero defaults.

Due to its success, the program has been expanded to support students in PCC’s dental hygiene program and those pursuing careers in education through teacher-preparation and career education programs.

PCC graduate Hailey Peters, a beneficiary of the loan program, now works in healthcare. “I got into nursing because I wanted to help people,” Hailey said. “I work on a bone marrow transplant floor with oncology patients, giving bone marrow transplants to patients with leukemia. Without the Posey loan, I wouldn’t be doing the work I’m doing now.”

“Mr. Posey and his family have advanced philanthropy and its critical role in strengthening California’s community colleges, improving student success, and preparing an educated workforce,” said Anne Paul King, President of the Network of California Community College Foundations. “Philanthropy is among the best strategies we have for increasing social and economic mobility, addressing long-standing inequalities in our communities, and ensuring that all members of our community have access to a life-changing higher education.”

The Bernard Osher Philanthropist of the Year award, established in 2009, is named after businessman and philanthropist Bernard Osher, who committed $25 million plus additional matching funds that ultimately resulted in the establishment of the $76 million California Community Colleges Scholarship Endowment for student scholarships.

An award ceremony will take place Wednesday, May 7, at Pasadena City College’s Westerbeck Recital Hall.