FM Global Grants
In 2008, FM Global contributed $525,000 to the Spencer Educational Foundation, the largest gift in the Foundation’s 33-year history. The gift included $300,000 earmarked to assist universities in developing new loss prevention-related courses. In April, 2009, the first two $50,000 grants were awarded to the University of Hartford and Virginia Commonwealth University. In 2010, a $50,000 grant was awarded to Ball State University. The committee did not select a 2011 grant recipient. In 2012, California State University at Fullerton and Old Dominion University each received a $50,000 grant and in 2013, Temple University was awarded a grant.
We are currently awaiting future funding for this grant, please check our website in the Fall 2013.
2013 Funding Guidelines
The Loss Prevention Education Grant program is intended for academic institutions with risk management programs that are interested in creating either undergraduate course curricula or a graduate course to provide future risk managers with a greater understanding of the value of engineering in loss prevention.
With the growth of the global economy, and as many organizations become increasingly interdependent across borders, risks to many entities have grown rapidly as have the financial consequences of loss. In economically trying times, sound loss prevention methods become especially important as many organizations are under increasing pressure to do more with less, facing more scrutiny by their stakeholders to operate responsibly and develop sustainable and winning long-term business strategies that minimize operational risks.
Unfortunately, for many students pursuing studies in risk management, current loss prevention-related academic course material is scant and often outdated at both the undergraduate and graduate levels. Risk management courses that focus on the value of engineering in loss prevention often do not exist or are not as robust as many institutions of higher learning, or their students, would prefer. With the benefit of relevant and the most up-to-date course materials, these students will be better prepared to meet the challenges of the organizations that one day will employ them.
As such, this grant program gives colleges and universities financial backing to take a leading role in loss prevention advocacy. This in turn has the promise to make their collegiate programs even more competitive.
Spencer Educational Foundation, Inc.’s Loss Prevention Education Grant Program is being underwritten by FM Global, one of the world’s largest business property insurers (www.fmglobal.com).
In 2013, the program will award one grant of up to US$50,000* for either:
- Development of one to three undergraduate modules of 50 to 75 minutes each in length, that aim to increase students’ understanding of how loss prevention engineering helps manage risk effectively
- Development of a graduate loss prevention course curriculum for students studying risk management
*Up to ten percent of the grant may be spent by a recipient on expenses. No matching funds are required by the grant recipient.
C. Eligibility Requirements
Grant applicants must represent colleges or universities with a formal risk management curriculum.
Applicants may represent institutions of higher learning located anywhere in the world.
In addition, for the undergraduate module activity, a team of up to three educators representing various colleges or universities may apply for one grant. All applicants or applicant teams should have a risk management program at their respective academic institution(s).
Grant recipients agree to:
- Complete all curricula or course development work within one year of receiving the grant.
- Implement their program by the September 2015 semester
- Formally report on progress (view application by clicking link below)
D. Application Process and Deadline
All applicants must complete the accompanying grant application form. All proposals will be treated as confidential documents.
Grant applications are due by 5 p.m. ET January 31, 2013.
Grant recipients will be notified in March 2013.
Applicants should send completed applications via e-mail or hard copy to:
FM Global Grant Committee
Spencer Educational Foundation, Inc.
1065 Avenue of the Americas, 13th Floor
New York, NY 10018
or Angela Sabatino at email@example.com
To download a 2013 application for the SEF/FM Global grants clickhere
VCU "Risk Management Challenge" Contest - $15,000 Grant