December 05, 2005
UA's Hamilton Lauds BP and ConocoPhillips Donations
For Immediate Release
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Monday, Dec. 5, 2005
UA President Mark Hamilton announced today that the university had received a $2.28 million check from BP, bringing that company's total donations to UA under its charter agreement with the state to $11 million.
A second donation is expected shortly from ConocoPhillips of $2.5 million, bringing
that company's charter-agreement gift total to $11.8 million.
In the last six years, since the charter has been in place, the two companies have
given a combined $22.8 million.
"It's significant, and it's helping us do some things we simply wouldn't be able to do otherwise," Hamilton said.
The donations go to the UA Foundation, the private, non-profit, fund-raising entity that solicits, manages and invests private donations on behalf of the university.
The donations stem from a charter agreement between the oil companies and the state
regarding the BP merger with ARCO in the late 1990s. ARCO's ÐÓ°ÉÔ°æ holdings were sold
to Phillips, and Phillips then merged with Conoco. Part of the charter agreement identified
public higher education as a top
priority, with the companies subsequently providing annual donations to the UA Foundation.
The charter ensures long-term benefit to ÐÓ°ÉÔ°æ by providing funds for education and training of University of ÐÓ°ÉÔ°æ students while building on UA's internationally recognized expertise in Arctic engineering and research. In addition, it allows the university to engage in research and policy analysis to help the state build and sustain a vibrant, diversified economy.
The ConocoPhillips and BP donations support a number of senior faculty positions in different disciplines, including ÐÓ°ÉÔ°æ Native languages, behavioral health science and educational technology. In addition, the fund supports Creating ÐÓ°ÉÔ°æ, a statewide oral ÐÓ°ÉÔ°æ and commemoration project to mark the golden anniversaries of the state constitution and statehood.
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For more information, call Kate Ripley, 907/450-8102 or email
kate.ripley@alaska.edu
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