MasterCard makes generous financial commitment
August 5, 2002
Continuing its commitment to support educational opportunities in St. Louis, MasterCard International has announced a $100,000 donation to Lindenwood University.
The grant represents a multi-year commitment that will be distributed in an annual $20,000 check. The money is being used to support scholarships for single-parent, college students at Lindenwood.
MasterCard President of Global Technology and Operations, Jerry McElhatton, said the strong partnership MasterCard has developed with Lindenwood University makes it possible for programs promoting education to be funded.
“It’s especially rewarding that through these programs MasterCard can serve as a benefactor for those in our St. Louis community who most need assistance," McElhatton said.
Started in 1990, Lindenwood’s Single Parents Program has been extremely successful. The graduation rate of participants in the program is approximately 90 percent, with 100 percent employment placement of those individuals finishing their degree. Graduates of the program have become business leaders, CPAs, and doctors.
More importantly, many of the Single Parents Program participants are the first in their families to attend college. Studies show that once two or three generations attend college, close to 90% of following generations will also attend. The students benefiting from MasterCard’s donation to Lindenwood through this program are taking the opportunity to improve not only their long-term lifestyle and income, but also providing a solid educational foundation for their children to build upon.
“A gratifying aspect of the program is that a majority of the graduates pursue careers in the Human Services area, essentially repaying that which they have been given,” said Dennis Spellmann, Lindenwood University president. “Not only do these graduates become tax payers rather than tax users, but also, they add value to our society through their shared success.”
Press Release Contact: