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02.09.2008
Charity Starts from Home-Professor Donates HK$1 Million
to Set Up Kellogg-HKUST EMBA Scholarship for Students
from Non-Profit Sector
The Hong Kong University of Science & Technology (HKUST) has received a HK $1.1 million donation from one of its own professors. The donation will be used to establish a permanent endowment to fund tuition awards for NPO students— students working for not-for-profit organizations—admitted to the Kellogg-HKUST (KH) Executive MBA Program.
Professor Larry Franklin of the Department of Finance made the donation through his family’s U.S. charitable foundation. HKUST will match the donation with an equal amount of contribution from the HKUST Business School. The donor and the School intend to launch a fund-raising campaign to rally the support from and beyond the community of the KH program. It is hoped that the campaign can raise an additional HK$2 million in order to make up an endowment principal of HK$4 million. The endowment is expected to generate an annual return that can provide an annual NPO Award to pay for up to 25% of the tuition. The first tuition award will be given out in January, 2009. KH EMBA Program Director Steven DeKrey expressed his wholehearted gratitude for Prof. Franklin’s generous donation. “The KH EMBA Program is world class in its academics, and in its diversity. Nonetheless, we want to attract even more executives who work in the not-for-profit, government and non-government sectors, so their organizations can benefit from leading management practices too,” he said.
Prof. DeKrey encouraged all KH EMBA alumni, faculty members and friends to consider investing in the future of the KH EMBA Program by making a gift to this NPO Endowment.
Prof. Franklin, who has taught business law and international strategy courses in the KH EMBA Program for the last ten years, said, “Teaching in the KH EMBA Program has given me great satisfaction, and giving back to the Program, to the School and to HKUST gives me even greater satisfaction.
“It has been the Program’s wish to include more executives from non-business backgrounds to share their visions for a better world with the business executives in the classroom. I am glad to provide support and impetus to the Program in its pursuit of this meaningful cause,” he said.
The Kellogg-HKUST EMBA Program was ranked #1 in the world by the Financial Times its 2007 worldwide survey of EMBA programs. Prof. Larry Franklin is Adjunct Professor of Finance, Business Law & Management at HKUST. Since year 2000, he has made several donations to the HKUST Business School, including donations to set up the Franklin Prize for Teaching Excellence for outstanding teaching performance of individual professors and departments.
If you wish to make a pledge or gift to the new KH NPO Endowment at HKUST, please contact Judy Au at 2358-4461 or email her at bmjudyau@ust.hk.
Prof Larry Franklin (center) of the Finance Department, presents a cheque to Prof Leonard Cheng (right), Acting Dean of HKUST Business School and Prof Steven DeKrey, Founding Director of KH EMBA progrom.
