The Lord Foundation of California, a nonprofit
foundation that supports the University of
Southern California in Los Angeles, has received
approximately US$260 million as a beneficiary of
the recent sale of the North Carolina-based LORD
Corporation. The money will be used to fund research
and teaching at USC. Since 1980, the Lord
Foundation of California has funded a variety of
teaching and research initiatives at USC, including
both the social enterprise lab and business
competition program at the USC Marshall
School of Business.
Babson College of Wellesley, Massachusetts, is
receiving a US$50 million investment from the
Arthur M. Blank Foundation to establish the Arthur
M. Blank School for Entrepreneurial Leadership, a
major part of the college’s strategic plan for the
future. The collaboration between Babson College
and the foundation will provide scholarships for
low-income students who show promise as entrepreneurs;
create the Blank Chair in Values-based
Entrepreneurial Leadership; enable experiential
learning opportunities; help develop an Entrepreneurial
Village that provides a dedicated space
for the Babson community to collaborate and
experiment; and provide funding for applied
leadership. Blank is co-founder of the Home
Depot and a Babson alum.