Focused Wealth Management Develops Annual Scholarship Fund for Newburgh’s Mount Saint Mary College

NEWBURGH, N.Y.--(BUSINESS WIRE)--Focused Wealth Management, an investment management firm serving clients in the individual, corporate, retirement plan, endowment and foundation marketplaces, under the direction of firm owner and Managing Director Philip J. DeAngelo, is honored to announce the development of its annual $5,000 scholarship fund with Mount Saint Mary College in Newburgh.

This scholarship is deeply meaningful to DeAngelo and his wife, Tina, who have been investing in the city of Newburgh for many years now, most notably through their partnership with local, celebrated Chef Michael Kelly, to establish the much loved inner city businesses of Liberty Street Bistro and the Newburgh Flour Shop.

“Tina and I are deeply committed to supporting our community and our local youth,” said DeAngelo. “We recognize the importance of higher education and the impact that an experience at a small college can make in an individual’s life. We are honored to sponsor this annual scholarship at one of the area’s premier educational facilities.”

DeAngelo is the son of a teacher and a school principal and his wife is the daughter of Italian immigrants.

“On behalf of the Mount Saint Mary College community, we are extremely grateful for Phil and Tina’s generosity and that of the entire team at Focused Wealth Management,” said Nikki Khurana-Baugh, Vice President of Advancement at the college. “Their annual scholarship will provide a young and talented student with a tremendous life opportunity.”

DeAngelo relocated Focused Wealth Management to Newburgh last year after purchasing the former Johnes Home at 11 Balmville Rd. and overseeing a meticulous, three-year restoration of the sprawling, 36,000 sq. ft. property into a high-tech, modern office space which still retains its historical roots and beauty.

Focused Wealth Management, which is located just five minutes away from Mount Saint Mary College, is an SEC registered investment advisory firm which has approximately $1.45 billion dollars of assets under advisement as of September 30th, 2021.

The firm is committed to servicing clients in the individual, corporate, public and foundation marketplace at a standard of excellence it takes great pride in and with gratitude to be situated in a community of beautiful diversity in Newburgh, among so many brilliant minds and hardworking local and immigrant families.

In extending this scholarship, Phil and Tina DeAngelo’s vision is to present an opportunity to an inner-city Newburgh student, actively pursuing a degree in business. They hope to provide an opportunity for members of a younger generation to contribute, through their studies of entrepreneurialism in business and capitalism, to the momentum of thriving, small businesses in Newburgh, which have begun to reestablish the city as the powerhouse it once was.

DeAngelo concluded, “Great things are possible when we invest in our youth and our communities. With much optimism, we look forward to seeing the great potential our scholarship will cultivate.”