Retired exec donates $125K

Lou Oberndorf, co-founder and longtime executive of METI, one of the region's most successful medical technology firms, has made a big entry into philanthropy in retirement.

Oberndorf, who still lives in Sarasota, where METI is based, recently joined the board of the Phi Theta Kappa Foundation. The foundation supports the Phi Theta Kappa Honor Society. In joining the board late last month, Oberndorf announced that through the Oberndorf Lifeline to Completion Scholarship he and his wife will match donations one-to-one up to $125,000. Oberndorf also says he and his wife will provide 10 scholarships of $2,500 each in 2013.

The scholarship was designed specifically for students who face unanticipated and severe financial barriers to college completion, according to a Phi Theta Kappa release. The society says unexpected life challenges, such as downsizing or a sudden illness, can pinch community college students, and leave them with no choice but to drop out of school.