In 1961, eight businessmen met for lunch and decided to form an investment club. A year later, the same group decided that they were not very good at investing even though they had made a little profit. Rather than divide the money among themselves, they presented a scholarship to a needy student at the University of Arizona. From this inauspicious start, a unique organization HABBJACH, the Tucson chapter of the nationwide fund-raising organization, Dollars for Scholars was formed. 

HABBJACH is an acronym of the first letter of the first name of the original eight members: Harry Horwitz, Alex Baum, Bob Brickman, Ben Shein, Jack Nevins, Al Michaels, Charles Gordan and Harry Cohen.

While none of the founders are still alive, there is a new committed group of volunteers carrying on the founder's visions. Today, HABBJACH awards approximately 50 scholarships annually of $1,000 - $2,000 per year. The scholarship is renewable up to five years as long as a student maintains a GPA of 3.5 or higher.