Thomas C. Prendergast comes from humble beginnings. Growing up in a working class home in Newark, N.J., he learned the importance of a good education from his mother and the Benedictine monks. Today, he is chairman, president, and chief executive officer of Heritage Property Investment Trust, Inc. (NYSE:HTG), one of the largest owners and operators of neighborhood and community shopping centers in the United States.

Now the 1972 graduate of Saint Anselm College has helped sponsor the establishment of the most comprehensive scholarship in the history of the college.

“The values that I formed at Saint Anselm are the values that inspire our corporate culture today,” says Prendergast.

“At Heritage, we are committed to creating opportunity, rewarding talent, and giving back to our community. This scholarship is a natural expression of our principles.”

The full, four-year Heritage Property Investment Trust Inc. Scholarship not only includes tuition, but a stipend for room, board, fees, books and supplies as well. The student also will receive a paid summer internship at Heritage and, upon graduation, the opportunity for a permanent job with the company. The value of the scholarship is currently about $130,000.

“For us, it’s about creating opportunity,” says Prendergast. “Over the years, Heritage has committed its human and financial resources to improving the lives of children in a variety of ways, including our sponsorship of Camp Wing, a summer day camp primarily for city children. This scholarship allows us to create an opportunity for an otherwise gifted, but economically disadvantaged student, obtain the tools necessary to succeed in life. We chose Saint Anselm College not only because of my relationship with the school, but because of its reputation and quality of education, its location, and its stated goal ‘to admit students whose desire is to contribute to their community, and to ultimately make the world a better place through informed and thoughtful learning.’”

“Tom and his team have put a lot of thought into this scholarship package, and we are grateful for his and Heritage’s commitment to students,” said college President Fr. Jonathan DeFelice, O.S.B.

The only requirements for the scholarship are that the student be admitted to Saint Anselm, want to attend, but be unable to afford it. They must also remain in good academic standing throughout their enrollment.

“Tom’s rise to success from working class kid to influential businessman is powerful and inspiring, but his personal mission to help educate and empower the next generation is even more impressive,” said Fr. Jonathan. “He and Heritage have made a financial commitment to Saint Anselm students and taken a personal stake in their future success.”

Prendergast says his own education required a lot of sacrifice. Following the passing of his father, he wanted to quit school and get a job to support his family. His mother refused, insisting that he and his siblings remain in school. Prendergast enrolled in St. Benedict’s Preparatory School, run by the Newark Abbey, where the monks eventually guided him toward Saint Anselm. He is thankful they did.

“At Saint Anselm, I forged a lot of good relationships,” he says. “I gained an understanding of hard work and play, an understanding that there is a place for everything. I learned about balance.”

He majored in natural sciences and met his wife, Anne (McCarthy) ’73. The monks became mentors, he says, and helped him forge the values of integrity, respect and creativity that have been at the core of his business life. Those values have also kept him deeply involved with Children’s Hospital in Boston and other non-profits.

“The values I learned at Saint Anselm made me successful,” he says. “In our company, it’s all about putting people first.”