May 12, 2000

PENN STATE ALUMNI ASSOCIATION ESTABLISHES ‘MARGIN FOR EXCELLENCE’ FUND
University Park, PA, -- In an unprecedented event in higher education, the Penn State Alumni Association has established its own $10 million endowment, with the earnings earmarked for annual philanthropy to the University. At its recent meeting, the Alumni Council voted unanimously to endow the fund, to be called the "Margin for Excellence" Fund.

"As far as we can tell, no other alumni association in the country has provided such support to its university," says Jim Carnes, volunteer president of the Alumni Council, and president and CEO of Sarnoff Corp.

The monies, accumulated over a period of several years, were the result of successful investments and entrepreneurial activities. The funds do not come from membership dues. The Alumni Association will continue to hold and manage the assets of this fund.

The Penn State Alumni Association is unique for its history of giving. Since 1988, the Association has contributed or pledged more than $12 million to Penn State in support of such programs as undergraduate scholarships, graduate fellowships, faculty fellowships, the Pattee Library, the HUB/Robeson expansion, the Bryce Jordan Center, and most recently, the new MBNA Career Center. The Alumni Association places great emphasis on its strategic partnerships, both within the University and outside.

Diane Ryan, executive director of the Alumni Association, says, "I am lucky to be at a University where there is so much cooperation and support between the alumni association and the university. It is truly unique to academe."

Founded in 1870, the Penn State Alumni Association is the largest dues-paying alumni association in the country, with more than 143,000 members.

Contact: Alan Janesch (814) 865-7517 or e-mail at