$2.6 Million Award to Institute will Help Region's Business, Nonprofit, and Academic Communities
Rutgers Institute for Ethical Leadership (IEL) at Rutgers Business School has been awarded a $2.6 million donation from Prudential Financial, Inc. and The Prudential Foundation. The support allows the IEL to continue serving nonprofit organizations, students, and business leaders with programs that reinforce the importance of ethical leadership.
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Last year, more than 3,000 students and business and nonprofit leaders benefited from IEL programs, events, and resources. The IEL combines academic research with practical training to strengthen current leaders and to prepare tomorrow’s leaders for the complex ethical challenges they will encounter. The IEL also continues its ongoing capacity building and training with the leaders of nonprofit organizations in Newark and the surrounding areas contributing to the health and vitality of the community.
The $2.6 million contribution includes a $850,000 three-year challenge grant from The Prudential Foundation. Each dollar of new and increased money the IEL raises will be matched by the Foundation with two dollars of support. The Prudential Foundation has made more than $1.5 million in grants to IEL since 2004 when it provided startup funding to create the Center for Nonprofit and Philanthropic Leadership at Rutgers University. IEL was created from that organization in 2008 with funding that was included in a $5 million Prudential contribution to Rutgers University.
"The Rutgers Institute for Ethical Leadership has emerged as a thought leader in values-based and ethical leadership within the nonprofit and business sectors. Their work is important in preparing the next generation to accept leadership positions of greater responsibility,” said Lata Reddy, Vice President, Corporate Social Responsibility at Prudential and President of The Prudential Foundation. “IEL is an important institution and Prudential is pleased to help it build its capacity for long-term sustainability.”
The grant will enable the IEL to continue its programs, including an annual Ethical Leadership Conference that attracts business, nonprofit, and academic leaders from across the country. This year’s conference, Ethics in Action: A Conference on Corporate Social Responsibility, will be held April 19 at the Newark Museum. The conference includes prestigious CSR leaders, a panel discussion with CSR experts, and highlights of successful social impact programs that provide valuable insight for leaders to integrate into their own CSR strategies.
“Prudential has a long-standing commitment to ethical leadership and social responsibility, and we are honored that the Company and Foundation chose to continue support at this level,” said IEL co-founders James Abruzzo and Alex Plinio. “The development of ethical leadership requires a long-term commitment and this grant will enable us to continue working with our fellow management service organizations as we continue to be a resource in the community,” Abruzzo and Plinio concluded.
About the Institute for Ethical Leadership
The Institute for Ethical Leadership at Rutgers Business School works with business and government, nonprofit and philanthropic organizations, and Rutgers University to provide individuals with the education, training, and critical-thinking tools needed to become more effective leaders and managers and make ethical decisions for real-world challenges. For more information, visit www.business.rutgers.edu/iel.
Prudential Financial, Inc. (NYSE: PRU), a financial services leader with approximately $1.060 trillion of assets under management as of December 31, 2012, has operations in the United States, Asia, Europe, and Latin America. Prudential’s diverse and talented employees are committed to helping individual and institutional customers grow and protect their wealth through a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds and investment management. In the U.S., Prudential’s iconic Rock symbol has stood for strength, stability, expertise and innovation for more than a century. For more information, please visit http://www.news.prudential.com/. The Prudential Foundation is a not-for-profit corporation supported by The Prudential Insurance Company of America, a subsidiary of Prudential Financial, Inc.
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Institute for Ethical Leadership at Rutgers Business School
Karen Oliver Moore