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

Academic Projects/Research - 2011Academic Programs

Below is a synopsis of the projects funded to date in 2011 or carried over from 2010 by the Board of Trustees (“BOT”) and whether they have been implemented to date. 

1. Kelso Fellowships: The success of this program was discussed, including case studies, employee ownership research and dissertations, etc. as this Rutgers University program penetrates academic institutions throughout the nation.  Case studies, bios, and interviews with Kelso Fellows are available through links on the Foundation’s website to the Foundation for Enterprise Development (“FED”), Rutgers University and the Aspen Institute Center for Business Education’s (“Aspen”) CasePlace.org.  Five (5) new Kelso Fellowships were approved.  The budgeted amount of $62.5 was requested by Dr. Joseph Blasi and has been submitted to him.  The recipients are yet to be announced.

2. Aspen CBE: Two programs conducted by Aspen CBE with sponsorship by EOF and FED are as follows:

1. CasePlace.org, which has CLEO (“Curriculum Library of  Employee Ownership”), which will add material, be enhanced for user friendliness and have an awareness / outreach program in  2011. To visit CLEO, please click here

2. The Dissertation Proposal Award (“DPA”) is being discontinued with other Aspen DPA programs.  FED will investigate moving the    DPA to the academically prestigious Academy of Management.  If   this is agreed to, there will be a one year transition to reinitiate the employee ownership DPA in 2012.   

3. FED Essay Contest: During the 2010-2011 academic year, the FED launched an Employee Ownership Essay Contest at universities nationwide.  The contest was very successful with about 430 essays submitted.  Immediate Past Chair Joe Cabral participated as a judge for the 27 essay finalists.  The four winning essays were awarded up to $1500 by the FED.  Three essays (one finalist and two honorable mentions) came to the EOF Chair’s attention as particularly focused on ESOPs.  The FED extended an invitation to the EOF to designate an ESOP essay award winner.  President Keeling designated such essay award winner and approved a cash prize of $500 for the winner.  Juan Meir, the essay winner, has now received his prize. 

4. Sheppard Outreach: This program continues to be underutilized.  Steve Sheppard, however, has several meetings scheduled for 2011.  The BOT approved continued support.       

5. Beyster Symposium: The Beyster Symposium brings together academic leaders and new scholars involved with evaluating broad-based employee ownership and entrepreneurship.  Sponsored by the FED, the third Beyster Symposium will take place during June 2011.  Scholars who have received Fellowships (e.g. Beyster, Kelso, Rutgers, Robert W. Smiley, Jr. and Ray Carey) will be invited to attend.  The BOT approved attendance by the five new Kelso Fellows including travel and lodging as well as a portion of the FED incurred costs for these and past Kelso Fellows.  

The BOT also approved reimbursing past Kelso Fellows, the Chair and Immediate Past Chair of EOF (approximately ten individuals) for travel and lodging to attend the Symposium. 

6. Edmunson Scholarships: The Edmunson Scholarship panel of judges significantly changed the application for 2011 in an effort to stimulate more scholarship application submissions.  The effectiveness of the edited application will be assessed before the next BOT meeting.  Twelve (12) scholarships, one being granted to the Employee Owner of the Year, were approved. 

Additional EOF projects that do not require budgeted funding to date are as follows:

ESOP Economic Performance Survey: This annual survey, first conducted 19 years ago by The ESOP Association, but now a Foundation Survey, was released in September, once again confirming overwhelmingly that ESOP company members of The ESOP Association out perform stock market indices, and establishing an ESOP was viewed by approximately 91% of the ESOP company leaders as a “good” business decision.  This survey consistently generates more positive media mentions than other TEA press releases.

Kelso Symposium (f/k/a the Rutgers Employee Ownership Fellows Mid-Term Symposium:  In addition to the aforementioned projects for 2011 last year, Rutgers University School of Management and Labor Relations created the first endowed Chair of Employee Ownership called the J. Robert Beyster Professor of Employee Ownership.  On February 24, 2011 an investiture took place where Dr. Joseph Blasi was named the first Chair of Employee Ownership. The event was followed by the Two-day Kelso Symposium.  In recognition of the generous $20K contribution by John Menke in 2010 the Rutgers Employee Ownership Fellows Mid-Term Symposium held at Rutgers was renamed the Kelso Symposium.

National Center for Employee Ownership (“NCEO”) Rosen Ownership Opportunity Fund (“ROOF”): The EOF has been invited to participate on the advisory committee for ROOF. NCEO has worked cooperatively with Immediate Past Chair Cabral to resolve certain legal governance issues with the ROOF structure. The BOT approved, subject to an NCEO Board resolution, ROOF on terms similar to its website as currently revised. Furthermore, President Keeling agreed to be the EOF representative. The BOT will monitor ROOF projects for possible future support by the EOF. It was noted that ROOF fundraising (currently at $150K) is a 1-year program.

UPENN/CEO Project: Professors Alan Barstow and Virginia Vanderslice are offering this program in June 2011. This program, especially developed for CEO’s of ESOP companies needs additional participants. The BOT is encouraged to promote attendance among their ESOP network of CEOs.

Employee Owners’ Retreat (“EOR”): The EOR which allows for 40 persons maximum at each Retreat has declined in attendance over the past few years. It was agreed that the EOR program should be reduced from 3 retreats to 1 retreat annually, to be held in Chicago. Opportunities for chapters offering this unique program to non-management employees will also be investigated. 


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