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The following sections identify named university endowments, scholarship
funds, and other special-purpose funds. In most cases, these funds are
invested in the university's pooled endowment fund. Annual income is spent
in accordance with the purpose of the fund. Further information on endowment
and life income gifts is available from the university's Development Office.
F. J. O'Neill Endowment Fund
In 1993 the F. J. O'Neill Foundation of Cleveland contributed an exemplary
leadership gift of $10 million to the university's Endowment Fund and
Capital Campaign. The F. J. O'Neill Endowment Fund is invested as part
of the overall institutional endowment. Annual income from the fund is
spent for student scholarships and faculty development, but the fund's
principal remains intact. The endowment honors the late F. J. (Steve)
O'Neill. Mr. O'Neill was educated by the Jesuits at Loyola High School
and Campion College. The O'Neill family has been associated with John
Carroll University for more than eighty years.
John M. and Mary Jo Boler Challenge Fund
In 1996, Trustee John M. Boler, Class of 1956, and his wife Mary Jo announced
a $10 million challenge gift to enable the university, through matching
donations from alumni and friends, to increase its endowment and fund
presidentially approved campus projects. In recognition of this magnanimous
gift, the university named its School of Business for the Bolers. The
Bolers also are sponsors of a $1 million unrestricted endowment fund.
Mr. Boler is chairman and chief executive officer of the Boler Company,
a multinational truck parts manufacturer headquartered in Itasca, Illinois.
He and his wife have been among the leading advocates and supporters of
the university and active participants in alumni affairs over several
decades.
John G. and Mary Jane Breen Endowment for Catholic
Studies
The Breens have funded a $1 million endowment whose specific purpose is
to be designated at a later time. For the present, the fund will continue
to build its assets as annual income is returned to principal. The Breens
have demonstrated deep loyalty and generosity over a long period. Mr.
Breen is a member of the Class of 1956 and a recipient of an honorary
degree in 1997. Mrs. Breen holds both undergraduate and master's degrees
from JCU.
Robert M. Ginn Institute for Corporate Social
Responsibility
Named in honor of a retired Cleveland business executive and community
leader, the Robert M. Ginn Institute builds upon the Cleveland business
community's record of social achievement and community spirit to establish
a continuing program and dialogue on issues of social consequence to business.
Through student internships and programs, the Ginn Institute seeks to
enhance understanding of critical social issues and to foster a cooperative
spirit among corporations, non-profit organizations, and communities.
The Ginn Institute sponsors non-profit service internships in memory of
JCU's late president, Rev. Michael J. Lavelle, S.J.
Helen and Leland Schubert Ethics Endowment
Funded through a $1 million gift, the Helen and Leland Schubert Ethics
Endowment fosters and sustains faculty dialogue on ethical questions and
ways to bring discussion of ethical issues into existing and newly designed
courses. This program focuses student attention on ethical issues, promotes
awareness and understanding of such issues both on the theoretical and
applied levels, and provides students with direction and practice in ethical
decision making.
Fifth-Year Accountancy Scholarship Endowment
Fund
Through the generosity of our accounting alumni, several CPA firms, and
the Boler Match, the Fifth-Year Accountancy Scholarship Endowment Fund
was created to assist John Carroll accountancy students. Beginning in
the year 2000, a state-mandated fifth year of studies was required in
order to sit for the CPA exam in Ohio and in most other states. The Fifth-Year
Endowment, now over $1.2 million, supports scholarships for our students
to complete the fifth-year accountancy requirements at John Carroll and
to obtain an M.B.A. degree as well.
Kresge Science Equipment Endowment Fund
In 1992, the Kresge Foundation awarded John Carroll University a Kresge
Science Initiative Challenge Grant of $280,000. The university raised
additional funds from science alumni, corporations, foundations, and other
sources to create a permanently endowed fund of over $1 million to be
used toward the purchase of new science equipment and updating laboratory
facilities.
Thomas W. Mastin Scholarship Fund
The Mastin Scholarship Fund was established in 1990 by Dr. Thomas W. Mastin,
retired chairman and chief executive officer of the Lubrizol Corporation
and philanthropist. Dr. Mastin made a great statement about the need to
advance science in our country through his commitment to fund thirty-six
scholarships, each valued at $10,000, for science students at nine colleges.
The Mastin Scholarships at John Carroll are awarded to three students
each year who are committed to majoring in one of the natural sciences
or mathematics. Eligible students must qualify as a National Merit Semi-Finalist
or have an ACT composite score of 27 or better.
Muldoon Scholarship Fund
When Edward M. Muldoon, a graduate of John Carroll's Class of 1948 and
a California entrepreneur, sold the company he founded to his employees,
he made a $2.5 million gift of corporate stock to the university. Much
of the gift, $1 million, endowed the Edward M. Muldoon Center for Private
Business. The remainder of the gift, $1.5 million, was used to establish
an endowed scholarship fund for student financial aid.
American Values Scholarships
American Values Scholarships are awarded primarily on the basis of academic
and extracurricular merit, with secondary consideration to financial need.
The annual awards, which range from $1,000 to $3,000, are financed from
income earned on endowed gifts. American Values awards seek to promote
and reward qualities of intellectual enterprise, initiative, and moral
integrity among students both in classroom and in extracurricular pursuits.
Donors of American Values Scholarships are the following:
American Spring Wire Corp. in memory of William J. and Honore M. Selhorst
Anonymous gift in honor of Henry F. Birkenhauer, S.J.
The Dauby Charity Fund in memory of Nathan L. Dauby
The Christopher Foundation in honor of Mr. and Mrs. Thomas F. Dolan
George W. Codrington Charitable Foundation
Estate of Rosemary Farrow in memory of George E. and Dr. Robert L. Farrow
Estate of Jean A. Halpert
Estate of Miriam Mackin Jardine
Kahl Charitable Corporation
Chester B. Lynn '36
Fred A. Lennon
Hugh McCaffrey in memory of Eugene J. McCaffrey, M.D. '40
Florence and Ralph Vince
Gene '39 and Stella Zannoni
Fr. Michael J. Lavelle, S.J., Memorial Scholarships
In memory of its twenty-first president, the university established the
Father Lavelle Scholarships as an endowed fund in 1995. These scholarships
enable currently enrolled students who experience extreme financial emergencies
to stay in school and continue their John Carroll education. Father Lavelle,
who had served as president since 1988 and, before that, as academic vice
president and dean of the Boler School of Business, died in the spring
of 1995.
Fr. Frederick E. Welfle, S.J., Scholarships
Alumnus Edward M. Muldoon '48, of Irvine, California, has donated $2 million
to endow the Father Welfle Scholarships. Father Welfle served as president
of John Carroll University from 1946 to 1956, leading the university from
difficult postwar times to prosperity in the mid 50s. The Welfle Scholarships
generate more than $100,000 annually in financial aid for students exhibiting
academic achievement and family need.
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