July 6, 2009

Ernst & Young Commits More Than $600,000 to The University of Alabama’s Culverhouse School of Accountancy

TUSCALOOSA, Ala. - The current partners, retired partners, principals and employees of Ernst & Young have committed more than $600,000 over the next five years to The University of Alabama’s Culverhouse School of Accountancy.

The pledge helps to wrap up the University’s successful five-year “Our Students. Our Future.” capital campaign which ended June 30. This generous gift is the latest Ernst & Young commitment in its long history of philanthropic support for the Culverhouse School of Accountancy.

“Ernst & Young has always been exceedingly generous to The University of Alabama and to the Culverhouse School of Accountancy,” said Dr. J. Barry Mason, dean of the business school. “That generosity has been exhibited in a number of ways - internships, mentoring initiatives, employment of UA students - as well as in monetary contributions. We deeply value our relationship Ernst & Young.”

The gift will be used in many key areas, including the recruitment and retention of minority students into and within the School of Accountancy. Additionally, the pledge will continue to fund Ernst & Young LLP Scholarships and provide program support and enhancements. Ernst & Young has funded scholarships at The University of Alabama for more than 30 years.

“The University of Alabama attracts incredibly bright, diverse students, who represent the future of American and global business. My colleagues at Ernst & Young and I value the energy and commitment of this next generation of leaders. We are delighted to step up and provide generous financial support for these young entrepreneurs, and the talented faculty at the Culverhouse School of Accountancy,” noted Karole Lloyd, Americas Vice Chair and Southeast Managing Partner of Ernst &Young LLP. Lloyd is a UA graduate and a member of the Culverhouse College of Commerce Board of Visitors. She is a strong supporter of the business school’s Women’s Initiative Program.

Tom Hough, Americas Vice Chair for Assurance at Ernst & Young LLP and UA grad, added, “This gift will continue to build on the strong legacy that Ernst & Young has maintained at The University of Alabama. We are pleased to support The University of Alabama and the Culverhouse School of Accounting in recognition of the outstanding work they do in providing education and preparing students for successful careers at organizations like Ernst & Young.”

More than 20 current EY partners and principals worldwide are graduates of the Capstone.

“The willingness of the current partners, former partners and employees of E&Y to give generously during these economic times is an inspiring example of professionalism and underscores the firm’s commitment to diversity and its understanding of the need for well educated and well rounded accounting graduates,” said Mary Stone, director of the Culverhouse School of Accountancy. “This gift will greatly bolster our ability to attract and retain a diverse and talented group of students and faculty.”

Ernst & Young is a global leader in assurance, tax, transaction and advisory services. Worldwide, the firm’s 130,000 people are united by their shared values and an unwavering commitment to quality. Ernst & Young makes a difference by helping its people, its clients, and its wider communities achieve potential.

The Campaign

The “Our Students. Our Future.” campaign has surpassed its $500 million goal which includes $250 million for student scholarships. The remaining funds are allocated to faculty support, facilities and priority needs. The campaign, which concludes June 30, has raised more than $595 million since 2002.

About UA

The University of Alabama, a student-centered research university, is in the midst of a planned, steady enrollment growth with a goal of reaching 28,000 students by 2010. This growth, which is positively impacting the campus and the state's economy, is in keeping with UA's vision to be the university of choice for the best and brightest students. UA, the state's flagship university, is an academic community united in its commitment to enhancing the quality of life for all Alabamians.


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