State Farm Insurance gives major
support for scholarships

Jan. 10, 2005--Representatives of State Farm Insurance today presented additional gifts toward establishment of a scholarship endowment at Arkansas State University.

Donations of $5,000 were announced today.  The endowment will provide scholarships to students majoring in finance or insurance in the College of Business.

Company officials presented a $4,000 check from State Farm Insurance.  Following that announcement, State Farm's Jonesboro agents announced additional pledges that will be added to the company gift. 

The agent pledges will qualify for matching funds from the State Farm Companies Foundation.  The additional gifts and matching funds, totaling $1,000, will put the total amount contributed to the endowed scholarship at more than $10,000 in the past two years.

Dr. Len Frey, interim dean of the College of Business, and Steve Owens, vice president for university advancement, acknowledged the gifts on behalf of the university and expressed gratitude to the company representatives and agents for their generosity.

Steve Short, vice president operations for State Farm's five-state central zone, and Rendi Black, vice president agency for Arkansas and Oklahoma, came to ASU to present the latest gift from the company.

Short, who also happens to be a Blytheville native and an ASU alumnus, explained the company's motivation toward making the endowment gift.

"One responsibility of corporate citizenship is to give back to the communities where we do business," he said.  "We view institutions, such as Arkansas State, which are making noticeable and significant contributions in the education of our youth, as strategic partners in our efforts to build a better tomorrow."

Black explained why the State Farm scholarship for business, finance or insurance majors is a good fit with the company's goals, and also expressed appreciation to ASU for preparing graduates for careers at State Farm. "ASU graduates are employed or affiliated with State Farm at the agency, employee and executive level," she continued.  "These associates contribute every day to the success of our organization and the communities in which they live."

A number of agents from throughout the area were on hand for the announcements.

State Farm is the leading insurer of home and autos in Arkansas and in the nation, according to company spokesman Gary Stephenson, external relations specialist for Arkansas, and also a ‘76 ASU alumnus.

The College of Business at Arkansas State University includes the academic departments of Accounting and Law, Computer and Information Technology, Economics and Finance, and Management and Marketing.

Approximately 500 students earned bachelor's and master's degrees through ASU's College of Business programs during the past year.  The college is accredited by the American Assembly of Collegiate Schools of Business.

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