Bruce Zoldan, CEO of Phantom Fireworks, right, enjoys the recollections of Youngstown State University President Jim Tressel, left, during an announcement that Zoldan and Phantom Fireworks are donating $1 million to the university.

YOUNGSTOWN — The Zoldan family of Youngstown, founders of Phantom Fireworks, is donating $1 million to Youngstown State University for student scholarships and to establish a new mentorship program.

The gift is being made in honor of Sam and Sylvia Zoldan, parents of Bruce Zoldan, Phantom Fireworks president and CEO, and an uncle, Abe Yampolsky.

“YSU has been the shining star of our community, and all of our family members have benefited from the university’s presence here,” Bruce Zoldan said. “It is our privilege to be able do our small part in supporting this wonderful institution.”

YSU President Jim Tressel said during an announcement at the Phantom Fireworks offices on Belmont Avenue that he is thankful to know the Zoldan family and “how fortunate our community is that the Zoldan family makes this their corporate home.”

“They have been longtime philanthopists to YSU,” Tressel said of the Zoldans, including Bruce’s brother, Alan Zoldan, and his son, Alex Zoldan, who were present for the announcement.

A scholarship in their parents’ name has been in existence since 2006 for business students who take at least one Judaic and Holocaust Studies class. But an additional $500,000 will ensure that the scholarship continues “forever,” Tressel said.

Such courses broaden the cultural awareness of students, he said.

The other $500,000 will establish the Zoldan-Yampolsky Family Executive Fellows Program in YSU’s Williamson College of Business Administration’s Center for Non-Profit Leadership.

YSU juniors chosen to participate will work with leadership on campus or at nonprofit organizations to gain practical work experience. The goal is to increase capacity at local and regional nonprofits.

It will assist students with internship possibilities in the nonprofit sector. “The nonprofits have been hit as hard as anyone has during this pandemic. Now they will have the opportunity to have a paid intern working for them, a free employee, if you will,” Tressel said.

“We always say our students need engagement in the real world, engagement in helping others,” he said. “This is going to be an amazing opportunity.”

Yampolsky was Sylvia Zoldan’s brother. He provided business advice and taught leadership skills to the entire Zoldan family.

The gift is part of the YSU Foundation’s “We See Tomorrow” capital campaign. The $125 million fundraising effort is the largest in the university’s history and has already exceeded $100 million.

The campaign has had 30 $1 million donations, Tressel said.