As of the fall of 2013, the department will award annually the Monteverdi Prize for a current junior in the Program of Liberal Studies. This prize is underwritten by the Cioffi Family Endowment for Excellence. The prize will consist of a three thousand dollar ($3000) research stipend to conduct research in Tuscany, Italy, during the summer between the recipient's junior and senior year (June and July). The recipient will also receive a ten thousand dollar ($10,000) award which will be applied towards the student's university student account for his or her senior year. (If the recipient has received financial aid, then the award is intended first to offset any loan and/or work-study that is included in the recipient's financial aid.) The Cioffi family includes Michael L. Cioffi, PLS '75 and his son, Michael A. Cioffi '00. Their project to create a center for the arts and humanities in Tuscany, known as Monteverdi, was inspired by and has its genesis in their PLS education.