GAAS, U. of the Aftermarket Foundation unite

BETHESDA, Md. (Nov. 30, 2016) — The aftermarket scholarship-funding vehicle Global Automotive Aftermarket Symposium Inc. (GAAS) is dissolving and donating its assets to the University of the Aftermarket Foundation, which will take over the nonprofit's functions. 

“Because GAAS and the University of the Aftermarket Foundation share a similar mission, and the foundation has been the largest source of funds for aftermarket scholarships, it only made sense to join forces to achieve a common goal,” said Tim Lee, chairman of the University of the Aftermarket Foundation.

“By donating its net assets to the University of Aftermarket Foundation, the proud legacy of GAAS will continue on.

 Established 20 years ago with the support of auto aftermarket veterans Mort Schwartz and the late Jack Creamer, GAAS was formed to raise funds for aftermarket scholarships and educational initiatives.

The entity generated funds by organizing an annual educational symposium.

Due to an ever-more-crowded industry events calendar, leadership of GAAS decided to stop holding its annual symposium in 2015 and focused its attention on Automotive Central, its well-regarded scholarship program.

Industry veteran Pete Kornafel, a partner with Schwartz Advisors L.L.C., and chairman of the University of the Aftermarket Foundation education and scholarship committee, will continue to administer the scholarship program.

For more information or to make a donation to the University of the Aftermarket Foundation, visit www.UofAFoundation.com or call Barbara Cunningham at 816-584-0511.

The University of the Aftermarket Foundation is a 501(c) 3 not-for-profit organization and all contributions are tax deductible to the extent provided by law.