$1 Million Gift From Somerset Trust

Issue Date: 
March 30, 2015

The University of Pittsburgh at Johnstown has received a $1 million gift from the Somerset Trust Company, a community bank with a 125-year corporate history in the Johnstown and Somerset region. The bank’s gift is unrestricted, meaning that the funds may be used for any purpose. It will be paid in $100,000 installments over 10 years, beginning this year.

In recognition of the donation, the University will name its existing entrepreneurship initiative the Somerset Trust Company Entrepreneurship Program, and its Idea Lab in Biddle Hall, the Cook Family Idea Lab. 

“A gift of this magnitude will unquestionably make a great difference toward strengthening Pitt-Johnstown and its mission of educating area students for success in the real world,” said Jem Spectar, Pitt-Johnstown president. “We are honored to have the Somerset Trust Company Entrepreneurship Program as well as the Cook Family Idea Lab as fixtures on our campus going forward.”

G. Henry Cook, president and CEO of Somerset Trust, said, “We have always known the importance of the University of Pittsburgh at Johnstown. The number of business people we deal with who have a Pitt-Johnstown background is truly impressive. Among our employees and families, it is clear Pitt-Johnstown is the go-to institution of higher learning. The entire Somerset Trust Company team is pleased and proud to be part of an effort that can be so beneficial to our region.”