Kentucky colleges get $5M in challenge grants
Kentucky universities and the new Kentucky Community and Technical College System will receive more than $5 million in grants as part of an Ashland Inc. Foundation initiative. The grants will be given out during the next 5 years.
The foundation is giving $2,505,000 in grants, which will be matched through a state-funded challenge grant pool of $110 million. The grant fund was created to encourage private giving to the university system. The state fund will match gifts dollar-for-dollar through the end of this year.
The universities are allowed to use the funds for endowed chairs, endowed professorships, endowed graduate fellowships and research and graduate mission support.
Ashland Inc. Foundation gifts include:
$1,000,000 to the University of Kentucky
$500,000 to University of Louisville
$250,000 to Northern Kentucky University
$200,000 to the Kentucky Community and Technical College System
$150,000 to Western Kentucky University
$105,000 to Morehead State University
$100,000 to Eastern Kentucky University
$100,000 to Kentucky State University
$100,000 to Murray State University.
Ashland Inc. has distribution, specialty chemicals, Valvoline motor oil and car care products, and highway construction operations.
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