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CONTACT: VIANA ROCKEL
Assistant Director of
Corporate and Foundation Relations
UI Foundation News
500 Levitt Center for University Advancement
Iowa City IA 52242
Phone: (319) 335-3305 or (800) 648-6973

Release: July 24, 2000

General Electric Fund matches nearly $17,000 in employee gifts to UI

IOWA CITY, Iowa -- The General Electric Fund of Fairfield, Conn. has presented $16,785 to the University of Iowa Foundation in a dollar-for-dollar match of gifts made by GE employees in 1999.

The funds, distributed under the GE Fund's Corporate Alumni Program, double gifts made by GE employees, retirees, and directors to benefit the UI. General Electric is among the top providers of matching-gift support to UI colleges, departments, and programs through the UI Foundation.

"The Corporate Alumni Program is an important part of the GE Fund's philanthropic activities because it allows us to multiply our employees' investments in higher education," said GE Fund president Joyce Hergenhan. "We're also proud that GE invented the concept of gift matching, and that so many other companies have followed our lead."

Since GE pioneered the concept of matching gifts in 1954, its foundation has matched more than $105 million in gifts to colleges and universities across the country. In that time, the Corporate Alumni Program at GE has provided $482,000 in matching gifts to the UI.

"The University of Iowa is most grateful to the GE Fund and its employees and directors for their generous, long-standing support," UI President Mary Sue Coleman said. "Together, their gifts enable us to make significant enhancements to selected programs and activities, improving educational quality for UI students."

The UI Foundation is the preferred channel for private contributions to all areas of the university. Foundation staff members work with alumni and friends to generate funds for scholarships, professorships, facilities improvements, equipment purchases, research and other UI initiatives.