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ERIC Number: ED213311
Record Type: RIE
Publication Date: 1981-Nov
Pages: 20
Abstractor: N/A
Reference Count: 0
The New Corporate Stake in Higher Education.
Council for Financial Aid to Education, New York, NY.
The ways that selected companies are managing and structuring their responses to the needs of higher education for financial support and cooperative programs are described. According to General Foods Corporation Chairman James L. Ferguson, the academic world faces the problem of maintaining its standards in light of the decrease of federal funding, the declining number of 18-year-olds, and the diminishing of incentives for people to give to philanthropic causes because of lowered federal tax rates. The new responsibilities of business in philanthropy in view of these developments are addressed. PepsiCo executive Victor A. Bonomo suggests that corporate giving to education is not an obligation but an opportunity to invest in people who will shape the company's future. The company identified target areas for giving, including finding qualified minority candidates for management jobs and preserving the free enterprise system. IBM President John R. Opel indicates that IBM gives priority in its giving to leading graduate centers of research and teaching, and has recently begun a program of grants to outstanding science and engineering departments to encourage risk-taking and imagination. According to Reader's Digest Foundation Chairman Kent Rhodes, the Digest Philanthropy is not merely a response to appeals for contributing but an effort to work with institutions to create programs that will further the company's goals, and some programs are closely monitored by company top management. The role of small companies is considered by Sidney P. Mudd of Westchester County Association and Joyce Beverages, Inc. (SW)
Council for Financial Aid to Education, 680 Fifth Avenue, New York, NY 10019.
Publication Type: Collected Works - Proceedings; Opinion Papers
Education Level: N/A
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: Council for Financial Aid to Education, New York, NY.
Identifiers: Corporate Support
Note: Remarks at a seminar sponsored by the Council for Financial Aid to Education, Inc., and the Westchester County Association (White Plains, NY, September 28, 1981).