Employee Ownership Foundation
 
 
 

Charting Your Own Future

"We understand that a well managed employee-owned company is not a destination, it is a journey..."

- J. Michael Keeling,
President of The ESOP Association

 
 

Past Projects

2008

  • The Foundation made a grant to the University of Hawaii, Schindler School of Business in 2008 for the writing of two case studies on employee-owned companies in Hawaii.

    Outcome: The project is moving to completion, and has expanded beyond case studies to include a survey of Hawaiian ESOP companies with input from the National Center for Employee Ownership’s (“NCEO”) Loren Rodgers and the Beyster Institute’s Tony Mathews.

  • The Foundation pledged to be the lead underwriter for the third four year cycle in a row of the General Social Survey (“GSS”), conducted by the Center for Opinion Research at the University of Chicago, questions on employee ownership in America. The development of data on who are employee owners in the U.S., how they work, and in what form they own stock in the companies where they work, is crucial for the development of public policy related to employee stock ownership, as the data demonstrates how important employee ownership is to nearly 38 million Americans.

    Outcome: Chair Cabral and President Keeling learned from Dr. Joseph Blasi that the National Science Foundation (“NSF”), a Federal agency that funds the General Social Survey (“GSS”), notified the University of Chicago’s Center for Opinion Research that the GSS did not need donations made earlier for specialized questions on the 2010 GSS. The NSF received an extra $1B from the Federal government economic stimulus program. Thus all supplemental questions for the 2010 GSS which required extra payment in order to be included in the survey were eliminated, with the exception of those questions concerning employee ownership. The academics in charge of the GSS believe that since approximately 48M Americans participate in some type of shared capitalism program in their workplaces, the questions relative to employee ownership and shared capitalism are sufficiently important to remain as part of the 2010 GSS. Extra questions on employee ownership for the 2010 survey compared to the 2002 and 2006 survey submitted by Drs. Joseph Blasi, and Douglas Kruse were removed from the 2010 GSS, however.

    Removal of the extra “shared capitalism” questions that Drs. Blasi and Kruse planned for the 2010 GSS resulted in EOF “overfunding” its share of the project. Rutgers will notify EOF of the amount of the surplus, and about the potential use. The amount was not known by year end 2009. The communication will also set forth options for use of the surplus.

  • The Foundation continued important programs that began in the past eleven years, such as underwriting the acclaimed orator and business leader Stephen C. Sheppard’s presentations to business owners who are prime candidates for establishing an ESOP as an exit strategy.

    Outcome: Now in its fourth year the presentations by former ESOP company CEO Sheppard, who is recognized as the best public speaker in the ESOP community, has triggered numerous expressions of interest in selling shares to an ESOP by those in his audience planning to exit the ownership of the non-publicly traded companies.

  • In 2008 a $9K proposal by Loren Rodgers of the NCEO was granted for a research project to calculate the average ESOP contribution in ESOP companies and the average of the 401(k) defined contribution as well as those for ESOP companies. Then the ESOP and 401(k) -contribution would be added together to compare to non-ESOP companies. An assumption for return on investments would also be done. This research after some modeling could -develop adequate income guidelines as to what is reasonable expectation for retirement -security provided by ESOP companies versus non-ESOP companies.

    Outcome: Loren Rodgers from the NCEO submitted a draft of the research findings to EOF. These findings are currently being reviewed by the task force headed by Trustee Hugh Reynolds who helped scope the research. By year end considerable discussion had taken place with NCEO’s Rodgers about additional work on the project. Work to date was paid for by year’s end.

  • In 2008 the Foundation joined with the Foundation for Enterprise Development to fund -development of a business school curriculum on employee ownership by the Center for Business Education of the famed Aspen Institute, the Employee Ownership Foundation’s -contribution was $30K.

    Outcome: Initial work resulted in the placement of case studies and research materials on employee ownership on caseplace.org, where hundreds of academics go to develop materials for their courses. In October the materials were formally introduced to thousands of academics.
  • The Foundation underwrote a dissertation presented by Brent Kramer to the City University of New York that updated the groundbreaking work in the late ’90s by Rutgers University professors Blasi and Kruse that privately held ESOP companies are more productive than their non-ESOP counterparts.

    Outcome: Confirmation that employee-owned companies are more productive than their non-ESOP competitors.

  • The Foundation underwrote in the amount of $5K the first academic symposium on employee ownership, focused on the ESOP model, at the University of Pennsylvania, hosted by that prominent University’s Center on Organizational Dynamics.

    Outcome: Awareness of employee ownership in the academic community to such a degree that the symposium will be repeated in future years.

  • The Foundation made a grant of $25K to Rutgers University’s School of Labor and Management to fund fellowships at major U.S. universities for the school year 2008-2009.

    Outcome: Two $12.5K fellowships were awarded.

  • The Foundation made a grant to the University of Hawaii, Schindler School of Business, for the writing of two case studies on employee-owned companies in Hawaii.

    Outcome: The case studies will be written during the year 2009.

  • The Foundation pledged to be the lead underwriter for the third four year cycle in a row of the General Social Survey, conducted by the Center for Opinion Research at the University of Chicago, questions on employee ownership in America. The development of data on who are employee owners in the U.S., how they work, and in what form they own stock in the -companies where they work, is crucial for the development of public policy related to employee stock ownership, as the data demonstrates how important employee ownership is to nearly 38 million Americans.

    Outcome: The data will be available during the year 2010. The survey is building the data on employee ownerships that is used by American thought leaders both in the public and private sector.

  • The Foundation continued important programs that began in the past ten years, such as underwriting the acclaimed orator and business leader Stephen C. Sheppard’s -presentations to business owners who are prime candidates for establishing an ESOP as an exit -strategy.

    Outcome: Now in its third year the presentations by former ESOP company CEO Sheppard, who is recognized as the best public speaker in the ESOP community, has triggered numerous expressions of interest in selling shares to an ESOP by those in his audience planning to exit the ownership of the non-publicly traded companies.

  • The Foundation continued granting Edmunson Scholarships — 11 in 2008 — to average pay employees for their attendance at the Foundation’s Employee Ownership Retreats, held 3 to 4 times a year with a faculty from the Ohio Employee Ownership Center of
    Kent State University. The Foundation has awarded 82 ($1000 and $1250) Charles
    Edmunson Scholarships to ESOP companies to send average pay employee-owners to employee owner educational programs, such as the Employee Owner Retreat, or The ESOP Association’s Annual Conference. (The Scholarships honor the late Charles R. Edmunson, an Association leader and stalwart voice for ownership education for all employees, not just
    top executives.)

    Outcome: The Foundation’s files are full of testimonials of how the Edmunson Scholarship winners have had their employees become more committed, more knowledgeable, and more “thinking” of ownership after their experience at programs dedicated to making ownership real for average pay employees.

View Projects 2012 |2011 |2009 | 2008 | 2007-2004

 
 

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