HISTORY
In 1998, Karl E. Neupert, Chairman of the Education: Our Pipeline to the Future Campaign, publicly launched the $10 million Campaign for the ASA Education Foundation. Since that time, the Campaign has raised over $9 million in cash and pledges. Earnings from the Fund, although limited by a difficult investment environment, have enabled the Foundation to begin fulfilling its promises to support the critical learning and industry initiatives needed by the wholesale/distribution PHCP/Industrial PVF Industry.
Recently, the ASA Education Foundation Board of Trustees renamed the Endowment after its most ardent champion, Karl E. Neupert, who passed away in December of 2002. In April 2003, the ASA Education Foundation recommitted the Foundation to the promises made in the case statement and reaching the Endowment’s $10 million goal. Those promises include effective governance, permanence, good value and support for four critical initiatives.
GOVERNANCE
The Fund is managed through the combined efforts of the Board of Trustees of the Education Foundation and the Endowment Investment Committee (EIC). The EIC oversees the investment decisions of the fund and supervises the activity of the Fund Manager. The EIC recommends to the Trustees the amount of earnings available for program development and industry initiatives in the coming year. The Trustees provide leadership for all Foundation activity and approve all projects that will be supported by endowment earnings.
PERMANENCE
To ensure that the Fund will be able to support needed activity in perpetuity, only earnings, never principal, may be spent. In addition, earnings may only be spent the year after they are earned.
AREAS OF SUPPORT
In developing the case for the Endowment, the Fund identified four areas of support that are increasingly important to the growth and success of the channel:
• Advancing technology
• Product knowledge
• Industry initiatives
• Workforce excellence
PROGRESS AGAINST ENDOWMENT PROMISES (Through 2003)
GENERAL / ORGANIZATION
Developed a plan to execute and fulfill the promises of the case statement. ASAEF 2005 includes the Foundation’s mission, values, principles, roles and strategies.
Organized Foundation into two self-sustaining operations to include training operations and Endowment activity. The Foundation has managed both operations and the endowment on a break-even basis without direct cash infusions from ASA in three of the last four years.
No increase in program costs. New and revised programs are priced lower than in 1997. Additional discounts of $150,000 have been given to endowment donors.
Product Knowledge
- Developed 5 New CD-ROM versions of the ProductPro Courses
- Upgraded ProductPro PVF CDs
- Begun revision of the PVF Book Courses
Industry Initiatives
- Completed ASA Training Needs Survey
- Provided $30,000 in Regional Education Support
- Supported Trainers Forum Seminars at ASA Convention
Workforce Excellence
- Development of the Essentials of Profitable PHCP Distribution
- Presentation of 5 Essentials pilot seminars
- Support for young Executive Education
Advancing Technology
- Developed new web site for the Foundation with links to hundreds of additional on-line courses and discounted programs
- Provided $142,000 in funding for Internet Data Base and Source E-Catalog seminars, webinar and blue ribbon summit meetings
GOING FORWARD
Looking to 2004 and beyond, the ASAEF Board of Trustees will work to reach the $10 million goal originally envisioned. As earnings increase activity that supports the 4 areas of programming will also increase. The Foundation is indeed grateful to the original Campaign Advisory Board that championed endowment as well as the hundreds of campaign donors who committed to the vision that will ensure the strength and prosperity of the channel.
HOW TO PARTICIPATE
To learn more about the Foundation, the Endowment and how to contribute or participate please contact Paul Martin, Senior Director, Program & Business Development, ASA Education Foundation at 312-464-0090 or send an e-mail to pfmartin@asa.net