FOR IMMEDIATE RELEASE
MEDIA CONTACT: Christie Hester
Educational Assistance Ltd., Announces Rebranding,
Continuing Commitment to Higher Education, Corporate Responsibility, and the Environment
Wise companies choose to donate their excess inventory to EALgreen
to help students, the community, and the planet
CHICAGO, Oct. 25, 2016 – In 1944 Verlyn “Swede” Roskam received the gift of a lifetime – a college education paid in full – from Roy and Ella Jenkins, who lost their son, George, on the beaches of Normandy during World War II. The Jenkins decided to use the money from George’s life insurance to help another young man. They chose Roskam, and it was their gift that sparked the beginning of Roskam’s highly successful business career and the inspiration for Educational Assistance Ltd., the non-profit organization he and his colleague, Dan Mickelson, founded in 1982. Over the past 34 years, EAL has paid that generosity forward by providing $18 million dollars in scholarships for thousands of college students.
EAL is Now Known as EALgreen
EAL is refreshing their brand and will now be known as EALgreen (www.ealgreen.org). The organization remains dedicated to closing the gap on college affordability. While helping students pay for an education has been, and will remain the organization’s primary focus, it was time to recognize that the unique business model has been helping protect the environment, too. “Green” underscores the organization’s 34-year commitment to supporting the environment through the circular economy.
“EALgreen’s overarching mission is to make a college education possible by connecting companies that have usable goods with colleges and universities in need of those items,” said Claudia Freed, President and CEO, EALgreen, and the very first EAL scholarship recipient. “By creating this network, unwanted items find a new life outside of landfills and the savings realized by colleges is turned into scholarships for students who lack the financial resources to pay for college.”
What is the Circular Economy?
The circular economy aims to reuse and recycle items, while maintaining their highest function and worth. According to GreenBiz.com, “The circular economy is a resource efficient alternative to the traditional wasteful linear economy. It decouples growth from scarce resource use allowing economic development within natural resource limits and allowing companies to innovate to enable customers and users to do ‘more with less’ while driving real business value.”1 As well as creating new opportunities for growth, a more circular economy will:
- reduce waste
- drive greater resource productivity
- deliver a more competitive US economy
- position the US to better address emerging resource security/scarcity issues in the future
- help reduce the environmental impacts of our production and consumption in both the US and abroad
How it Works: Inventory Donations Turn Into Scholarships
Companies donate their excess inventory, overstocks, close-outs, or end-of-life equipment to EALgreen. Colleges and universities then choose the items they want and pay only a small administrative fee. These colleges and universities then generate scholarships for financially disadvantaged students with the money they save on products.
Roosevelt University can attest to the success of the EALgreen model in helping its students complete their education.
“We are pleased to be involved in an initiative that benefits our environment, and our students,” said Roosevelt University President Ali Malekzadeh. “I’d like to thank EAL for providing scholarships that to date have helped nearly 500 Roosevelt students.”
How EALgreen Benefits Your Business’ Bottom Line
When companies donate unwanted items, they no longer have to be concerned about attempting to liquidate these items for pennies on the dollar or scrap them in a landfill. Instead, they have the gratification of donating their items to a meaningful cause while obtaining a tax benefit. Donating to EALgreen also inspires employee engagement. A recent poll conducted by Morning Consult for FORTUNE of 2,000 individuals found that “nearly two-thirds of people between the ages of 18 and 34 were at least somewhat more likely to want to work for a company that gave to charity than one that did not.”2
In 1982, W.W. Grainger, Inc., became EAL’s founding donor partner. The company’s initial donation of two motors made it possible for Claudia Freed to attend college. Since then, other forward thinking corporations joined the cause in support of education and the environment, including Cole-Parmer®, United Airlines, Warehouse Direct®, Unilever, Black Box®, and CDW®, among others.
Become an EALgreen Donor Partner Today
EALgreen accepts most types of inventory: new, used, retail, industrial, commercial, product components, finished product, obsolete, discontinued items, and even scrap items. Raw chemicals, pharmaceuticals and perishables are not accepted. For more information, visit the website at www.ealgreen.org, contact us at (630) 690-0010, or send an email to email@example.com.
About EALgreen –
Educational Assistance Ltd. is a tax-exempt [501 (c) (3)] nonpartisan, nonprofit organization, qualified by the Internal Revenue Service to receive charitable tax deductible donations. EAL also accepts contributions in the form of cash, securities and services. Join the conversation at #EALgreen.