Press Releases

NEW YORK (September 19, 2011) The Spencer Educational Foundation, a nonprofit organization dedicated to the success of young and aspiring risk management and insurance students, raised more than $600,000 at its annual gala held at The Waldorf=Astoria Hotel on September 15, 2011.  More than 500 leaders in the risk and insurance industry gathered at the event to show their support for the foundation and honor the extraordinary careers and contributions of Liberty Mutual Group Chairman of the Board Edmund F. Kelly, Ph.D., FSA and President and CEO of Lockton Inc. John L. Lumelleau.

Among the evening's highlights were speeches by St. John’s University undergraduate, Kaitlin Graf, RIMS NY Chapter/Dante Petrizzo Memorial Scholarship recipient and Patrick Enderlin, also from St. John’s University, one of four first recipients of the Liberty Mutual Group Scholarship, who introduced Mr. Kelly.  The event was emceed by the Foundation’s Chairman Roger L. Andrews and the Director of Development and former President of the Risk and Insurance Management Society P. Richard Hackenburg.

“For more than 30 years, we have made it our priority to ensure that young men and women who have demonstrated a commitment to their studies are rewarded with the means to achieve their academic goals and excel within our profession,” said Roger Andrews.  “We are indebted to the corporations and individuals in the risk management and insurance arena who, year after year, pledge their crucial support to help advance the foundation and improve the future of the profession.

“On behalf of the entire Spencer Educational Foundation community and our sponsors, we would like to congratulate Mr. Kelly and Mr. Lumelleau for their commitment to promoting the study of risk management and insurance.”

Since 1979, the Spencer Educational Foundation’s has awarded more than 509 scholarships totaling $4.4 million.

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About Spencer Educational Foundation, Inc.

Spencer Educational Foundation, Inc. stimulates, promotes and encourages promising undergraduate, graduate and doctoral students of risk management disciplines in fulfilling their educational goals by providing scholarship awards and educational grants. Established in 1979 to honor the late Robert S. Spencer, the Foundation is administered by its Board of Directors and is affiliated with the Risk and Insurance Management Society, Inc. (RIMS) in New York.  For more information, visit www.spencered.org.

New York (October 5, 2010) — As announced at its recent gala, Spencer Educational Foundation, Inc. has received a commitment of $500,000 from Liberty Mutual Group, the fifth largest provider of property and casualty insurance in the United States. The funds will go toward the creation of Liberty Mutual Group undergraduate scholarships, to be presented in $50,000 increments annually to students of risk and insurance. The first scholarship will be awarded in 2011.   

“In these challenging times, the number of students applying for scholarships continues to increase. This is a significant contribution that expands our resources to meet this need. We are grateful to Liberty Mutual Group for its generous support of risk management and insurance education and are confident that it will make a significant positive impact on the lives of the students we support,” says Roger Andrews, chairman of Spencer Educational Foundation, Inc.

Since 1980, Spencer Educational Foundation has awarded more than $4.2 million in scholarships and $2.2 million in grants to students pursuing degrees and universities offering programs in risk management and insurance. In 2010, the Spencer Educational Foundation awarded more than $255,000 in scholarships and more than $150,000 in grants. For more information about the Foundation, or to make a donation, visit www.spencered.org.

“We’re proud to support the next generation of risk professionals,” says J. Paul Condrin, president of Liberty Mutual’s Commercial Markets strategic business unit. “The scholarships provided through the Spencer Educational Foundation enrich the industry by bringing young, talented people into the profession.”

NEW YORK (March 9, 2010) — The Spencer Educational Foundation, Inc. (www.spencered.org) has been granted the BBB Wise Giving Alliance National Charity Seal, awarded for adherence to the Alliance’s Standards for Charity Accountability.

The seal is the culmination of a rigorous approval process. Before national charities can apply to use the seal in any promotional materials, they must undergo evaluation by the BBB Wise Giving Alliance, the nation’s most experienced charity evaluator. The assessment involves rigorous scrutiny of a charity’s governance, effectiveness, finances, solicitations and informational materials. The standards go beyond what government regulators require.

“That we can now display the BBB Wise Giving Alliance seal is a source of great pride for the Foundation,” says Donna Galer, chairwoman of Spencer Educational Foundation, Inc. “We have a remarkably committed group of people—staff, board of directors, volunteers and students—who have all contributed to the growth of the Foundation, and this seal serves to further our success by increasing donor confidence.” 

Only organizations that come through the review by the Alliance favorably are eligible to participate in the seal program. The seal demonstrates an organization’s commitment to accountability and ethical practices, the values for which donors look. This dedication is all the more reliable when it is verified by the familiar and respected BBB Wise Giving Alliance.

About Spencer Educational Foundation, Inc.

Spencer Educational Foundation, Inc. stimulates, promotes and encourages promising undergraduate, graduate and doctoral students of risk management disciplines in fulfilling their educational goals by providing scholarship awards and educational grants. Established in 1979 to honor the late Robert S. Spencer, the Foundation is administered by its Board of Directors and is affiliated with the Risk and Insurance Management Society, Inc. (RIMS) in New York. For more information, visit www.spencered.org.