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Cheryl L. Kight - Vice President, Marketing

Columbus, March 12, 2007

The Timken Foundation Gives $607,500 to The Ohio Foundation of Independent Colleges in Support of Higher Education

The Ohio Foundation of Independent Colleges (OFIC) is pleased to announce a gift of $607,500 from the Timken Foundation of Canton.  The gift is being used to establish endowed scholarships which will provide funding in perpetuity to assist Stark County students attending Malone College, Mount Union College and Walsh University.  The first scholarships granted will be for the 2007-2008 academic year.

Each of the presidents of the three colleges expressed their appreciation on behalf of the 1,411 students from Stark County attending these institutions.  Ron Johnson, President of Malone College, said, “Over the years the Timken Foundation’s gifts to scholarships, scholarship endowments and capital projects have assisted thousands of Stark County college students to obtain degrees. “

Also expressing gratitude for the Timken gift was Dr. Richard Giese, President of Mount Union College.  He said, “The Timken Foundation has played and continues to play a leadership role in supporting education as the means to economic prosperity for our area.”  Rich Jusseaume, President of Walsh University, stated, “Nearly half of the young men and women attending Walsh are first generation college students, and this generous gift from the Timken Foundation allows us to continue our mission of providing an education for all who seek it.” 

The Timken Company and the Timken Foundation of Canton have been dedicated supporters of OFIC for 49 years.  Ward J. “Jack” Timken, President of the Timken Foundation of Canton and Statewide Chair for the 2006-2007 OFIC Campaign is asking his counterparts in business and industry to join him in providing scholarships for the students at OFIC member colleges and universities.   In a recent statement, Timken acknowledged the widespread concern over the state’s changing economic status, the education of its workforce and the rising costs of higher education in today’s rapidly evolving technological society.   He stressed the importance of educating tomorrow’s business and community leaders and expressed his belief that a liberal arts education is a good way to nurture critical thinking, creativity, values, and a sense of service.
 
Translating his beliefs into action, Timken has volunteered with OFIC for more than 20 years, serving as trustee, Board Chair, and area campaign chair and has devoted time, energy and financial resources to OFIC’s mission to assist financially needy students obtain a college degree at any one of Ohio’s independent colleges.

Jeff Wolf, President of OFIC, noted that Jack and his brother, W. R. “Tim” Timken, Jr., former Chairman of The Timken Company and currently U.S. Ambassador to Germany, recently received OFIC’s Lifetime Achievement Award for their volunteer service to OFIC.  He also observed that the Timken name is recognized around the world not only for business acumen but also for their personal dedication to serving the world community.

For 57 years OFIC has partnered with the corporate community in its mission to provide Ohio’s students with access to educational opportunities at its 35 member colleges and universities.    OFIC members, located throughout the state, are 4-year liberal arts institutions serving more than 96,000 students and granting more than 35% of all undergraduate degrees in Ohio. 

Since its founding in 1950, OFIC has provided more than $126 million to its members for scholarships, educational programs and collaborative programs that assist its member colleges to reduce expenses and improve the educational experience.   Additionally, OFIC is one of the largest providers of scholarships in Ohio and connects employers with students and recent graduates at its annual job fair, CareerFest. 

OFIC, a non-profit 501 (c) (3) organization, is the primary corporate and foundation solicitation organization for 35 independent Ohio colleges and universities. OFIC member colleges collectively enroll more than 97,000 students.   For 57 years The Foundation has worked to highlight the leadership, value and excellence of independent higher education.  Through contributions raised in annual solicitations of businesses and foundations OFIC has provided unrestricted operating funds and scholarship assistance, thereby assuring continuation of excellence in independent higher education.  OFIC is governed by a Board of Trustees comprised of Ohio’s corporate leaders, as well as presidents of the 35 member colleges.

The member colleges are:  Antioch College, Ashland University, Baldwin-Wallace College, Bluffton University, Capital University, Cedarville University, University of Dayton, Defiance College, Denison University, The University of Findlay, Franciscan University of Steubenville, Franklin University, Heidelberg College, Hiram College, John Carroll University, Kenyon College, Lake Erie College, Lourdes College, Malone College, Marietta College, Mount Union College, Mount Vernon Nazarene University, Muskingum College, Notre Dame College, Oberlin College, Ohio Dominican University, Ohio Northern University, Ohio Wesleyan University, Otterbein College, Urbana University, Ursuline College, Walsh University, Wilmington College, Wittenberg University and The College of Wooster.