News Announcement
For further information please contact
Cheryl L. Kight - Vice President, Marketing

Columbus, September 24, 2008

UPS FUND PROVIDES MORE THAN $2 MILLION TO PRIVATE COLLEGES
$98,600 TO BE DISTRIBUTED TO 34 OHIO COLLEGES

The UPS Foundation of Atlanta, Georgia, and the Foundation for Independent Higher Education (FIHE) of Washington, DC jointly announced that more than $2 million in grants is being awarded to benefit private colleges and universities across the nation.  A grant of $98,600 was awarded to The Ohio Foundation of Independent Colleges (OFIC), which will distribute funds to its 34 member institutions for UPS scholarships.

Nationwide, 612 private colleges will receive a UPS Scholarship, which will be dispersed to students selected as UPS Scholars.  Scholars are selected based on the criteria of financial need and academic achievement.

In addition to the nearly $1.8 million designated for scholarships, more than $430,000 will be used for grants to support innovative programs designed to improve educational services for students, broaden access to higher education, and encourage collaboration among colleges.  Grants are awarded to FIHE state partners through a competitive matching grant program called the UPS National Venture Fund.  Traditionally, the matching support exceeds the required one-to-one match.  In fact, since the program’s inception in 1999, the $5 million awarded was matched by local donors with $11 million in gifts, resulting in a total economic impact exceeding $16 million. 

The UPS scholarships and grants are funded by the UPS Educational Endowment Fund, which is held and administered by FIHE and was originally funded through grants to FIHE from United Parcel Service (UPS).  The UPS Educational Endowment Fund, established in 1974, has generated more than $42 million in scholarship support an has a current value of approximately
$41 million.

In announcing the grants, Lisa Hamilton, President of the UPS Foundation, said, “Our young people, our communities and our workforce all benefit from the increased educational opportunities that FIHE provides.  The UPS Foundation is proud to continue our longstanding partnership with FIHE to support this meaningful and sustainable program.”

The Foundation for Independent Higher Education is the national partner in a network of 33 state and regional funds, including The Ohio Foundation of Independent Colleges, which develop resources for private colleges and universities.  Since its founding in 1958, FIHE and its partners have received more than $1.5 billion in support for private colleges.

Mike Kehoe, Vice President, AT&T Ohio and Chair of the OFIC Board, stated, "The attainment of higher education by our future workforce is vital to our state’s economic stability and its ability to compete in a changing global economy.   For the past 34 years the UPS Foundation has provided scholarship support through FIHE to students with financial need enrolled at OFIC member institutions.  We appreciate their dedication and long partnership with OFIC to provide career choices and college access for Ohio’s students."

OFIC is the primary corporate and foundation solicitation organization for 34 independent Ohio colleges and universities and operates one of the largest, most comprehensive and diverse scholarship management services in the state.  OFIC member colleges collectively enroll more than 97,000 students and award one-third of all bachelor’s degrees in the state. For 58 years OFIC has worked to highlight the leadership, value and excellence of independent higher education and has provided unrestricted operating funds and scholarship commitments through funds raised in annual solicitations of businesses and foundations, thereby assuring continuation of excellence in private higher education. OFIC is governed by a Board of Trustees comprised of Ohio’s corporate leaders, as well as presidents of the 34 member colleges.

The member colleges are:  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.