Last modified: Friday, April 3, 2009
Students in IU Bloomington Virtý Project raise money for Timmy Foundation
FOR IMMEDIATE RELEASE
April 3, 2009
BLOOMINGTON, Ind. -- Next Thursday (April 9), students in Indiana University's Liberal Arts and Management Program will present a check to the Timmy Foundation, which works to secure health care and education for children in poor regions of Central and South America, the Caribbean and Africa.
The $7,610 donation is the work of the Virtý Project, an original social entrepreneurship initiative in which students learn effective business skills while raising money for a worthy cause. Students will present the check to Timmy Foundation founder and President Dr. Chuck Dietzen at noon on Thursday, April 9, in the Maple Room of the Indiana Memorial Union.
"We're excited that so many people donated, and we're grateful for the support we've received from university officials and faculty members," said Krista Bergman, a junior from Batesville, Ind., and the Timmy Foundation liaison for the Virtý Project.
Launched in November 2007, the Virtý Project was set up to raise money for the Timmy Foundation by having donors make pledges to a mock investment portfolio. The portfolio is developed and managed by students in the Liberal Arts and Management Program (LAMP), an honors-level interdisciplinary program in the College of Arts and Sciences in cooperation with the Kelley School of Business. Each "investor" agrees to make an annual donation to the Timmy Foundation equal to investment earnings.
As it turned out, the stock market plunged in value during the first year the project was in operation. But a sizeable percentage of investors still made voluntary donations, resulting in the $7,610 check that will be presented next week.
"I'm very proud of the LAMP's Virtý students," said Jim Madison, director of LAMP and the Thomas and Kathryn Miller Professor of History at IU Bloomington. "They have learned a great deal about philanthropy, organization and teamwork as they raised money for others in need."
Students involved with the Virtý Project build relations with donors and garner pledges; work with IU faculty and staff to develop an investment strategy; and prepare contracts and reports and keep records.
Bergman, who has served an internship with the Timmy Foundation, said the IU project is continuing and growing, with future donations tied to annual earnings figures for the investment portfolio. Student involvement has doubled since last year, and educational opportunities have increased in such areas as donor relations, investment, marketing and communications.
For more information on the Virtý Project, see https://www.indiana.edu/~virtu/. For information on LAMP, see https://www.indiana.edu/~lamp. To learn about the Timmy Foundation, see https://www.timmyfoundation.org.