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


Academic Projects/Research - 2012Academic Programs

Projects in 2012:  Below is a rundown of projects funded by the Foundation:

            1. Kelso Fellows, and Supporting Activities:  The Foundation funded five new Kelso Fellows in 2012, at $67.5 K, provided $10 K supplemental funding to Kelso Fellows named before 2012, paid $5 K for the “Ads” running in academic journal soliciting applicants, $1.5 K for a share of a dinner of Kelso Fellows, alumni Kelso Fellows, where other “Rutgers” Fellows attended.   $25 K as a passthrough from Menke & Associates to underwrite the “Kelso Symposium” in July, 2012, but in adding a “contingency” amount to budget for 2012 in anticipation of needs for the program not otherwise anticipated, such as the summer 2012 Kelso Symposium, the overall budget was not devastated by the $37.5 K spending above budget.

            The Kelso Fellows program is part of an overall academic fellows program, nationwide, but with some international scholars managed through the Rutgers University School of Management and Labor Relations.  On an annual basis, it is the “largest” project supported by the Foundation.

            The program is the primary tactic to implement a long-standing goal of the Employee Ownership Foundation/ESOP community to have more, and a younger generation, of academics providing academic research data that justifies the “policy” for a national policy encouraging the creation and operation of employee owned/ESOP companies.

            2. Aspen Center for Business Education (CBE): This section of the famed Aspen Institute hosts a website, caseplace.org.  Established four years ago, funded primarily by the Foundation for Enterprise Development (FED) it has the largest, most complete set of academic papers in the world on “shared capitalism” which includes the ESOP model.  Most funding took place at start-up in 2009, until revamping in 2010/2011.  Foundation funding is passed through the FED to Aspen.  Funding was $2.5 K.

            3. Edmunson Scholarships:  Ten scholarships were awarded by year-end 2012 of twelve awards.  Scholarships used by average pay employees to cover cost of attending the Employee Ownership Retreat, and occasionally the Annual Conference, or large, multi-day chapter regional conferences.    $12.5 K was funded in 2012.

            4. On-line accredited college curriculum program:  At the September 2011 BOT meeting, discussion was conducted on a project proposal submitted by John Hoffmire.  The proposal involved was a program that would be an accredited program that a professor could have his students use as part of her/his course curriculum.  Consensus was gained from the BOT to grant John Hoffmire $7.5 K for this program.  On January 26, 2012 John reported the project being completed, and will be available on CLEO.  The curriculum is not accredited by any university, but the University of California, San Diego, Rady School of Business developed final curriculum and is in the Beyster Institutes’ portfolio. 

            5. Funded Out of Contingency Line:  Already mentioned were funds for the Rutgers Kelso Fellows.

Also the contingency fund was the source of funds for the brochures for the University of Pennsylvania CEO Certificate Program ($2.5 K) and a special research project by NCEO using results of the GSS 2010 Survey as its source of estimating how many “dollars” ESOP companies saved the Federal government during the Great Recession, at $1 K.

            Projects Not Requiring Direct Dollar Funding:

            ESOP Economic Performance Survey:  This annual survey, first conducted 21 years ago by The ESOP Association, but now a Foundation Survey, released in September 2012, once again confirming overwhelmingly that ESOP company members of The ESOP Association have established an ESOP was viewed by approximately 93% of the ESOP company leaders as a “good” business decision. This survey consistently generates more positive media mentions than other TEA press releases. It follows.

            National Center for Employee Ownership (“NCEO”) Rosen Ownership Opportunity Fund (“ROOF”):  President Keeling is on the advisory committee for ROOF. Initial ROOF projects were funding two Rosen Fellows as part of the Rutgers program, and hiring an intern to do media relations work under Corey Rosen’s supervision. 

            UPENN/CEO Project:  The UPenn/CEO project was offered again in 2012.  Session 1 commenced June 24th through June 29, 2012.  Session 2 commenced September 30th through October 3rd.  There were 17 attendees registered for the UPenn Project.

            Employee Owner Retreat (“EOR”):  The EOR allows for 50 persons maximum.  Due to declining attendance there was only one Retreat in 2012 scheduled for August 9th through 12th in Chicago, Illinois.  At the recent EOR there were 27 attendees.            


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