After WWII ended, there was a desparate need for skilled technicians and educated leaders in the cast metals industry. FEF was established in 1947 by the leaders of the metal casting industry, with the support of affiliated organizations and societies as an independent extension of metalcasting educational programs at colleges and universities across the country. The primary objective was to bring top-quality men and women into our industry. FEF has since become the lifeline of quality people to our Industry.
FEF has survived the test of time, providing the industry with a steady supply of technical and management-oriented people. Indeed, the single largest factor for the transfer of new technology into the work place has been FEF graduates. Over the last 4 school years, 76.8% of all graduating students who registered with FEF and reported full-time employment, took a position in the metal casting industry (data as of 1/13/12). In addition, many other students are exposed to the Cast Metals Industry, its products, designs, and quality engineered components. Also, research at FEF schools has become the core of important accomplishments and developments in Cast Metals. FEF provides its company contributors with a crucial link to college campuses.
Why FEF is Unique
There is a "Key Professor" at each of the schools who handles the partnership FEF has with engineering education. This professor knows the students, teaches the courses, handles administrative requirements from FEF headquarters, and decides who is best suited to receive FEF funds. This personal approach is very important to the program's success. Students become aware of the Cast Metals Industry through the combination of scholarships and the professor's influence. Other scholarship programs make grants only on registration or letters of intent. FEF provides important interrelationships essential to students and Professors. The FEF Key Professor also is your contact as your company considers research, donation of supplies, recruitment, and other technical needs.
FEF students become aware of the opportunities in this Industry through meaningful scholarship support. FEF builds no war chests, yet the strength of this Foundation continues to increase through careful planning and prudent use of funds. Over $600,000 is provided each year to selected students and FEF Key Professors. FEF scholarships are very competitive on many college campuses. In fact, they are the example for other campus scholarship programs, according to surveys of the deans of each FEF accredited school.
FEF offers all contributing companies access to student information via its website. Whether you are looking for graduates to fill full-time positions within your company or you need interns, summer or co-op students, you can search the database using selected criteria, as well as posting your position for the students to be able to view
The College Industry Conference, held each November, brings together what FEF is all about, students, professors, and industry leaders. FEF pays for travel, room, and meal expenses for each student delegate, and Key Professor. The Key Professor's attendance allows for networking between themselves and the industry. Companies have a unique opportunity to meet the top engineering students in the country. The Career Information Session allows a company to interview or to acquaint future leaders with their products and services. Over $30,000 in special scholarships and grants is available to undergraduate and graduate students and the FEF/AFS Distinguished Professor Award is presented to a selected Key Professor. The E.J. Walsh Award is given as special recognition to an individual showing dedication to the ideals and goals of FEF.
You might expect that a national program with the scope of FEF would have several staff members and a huge overhead. This is not the case. FEF is a lean, cost-effective program that spends less than 10% of manageable assets for operations. There are only two full-time staff members: Bill Sorensen, Executive Director and Pam Lechner, Executive Assistant. Management of the Foundation includes the coordination of efforts through 40 Board members, individuals, company contributors, societies, etc. FEF also is highly computerized, able to offer quick response on a personal level.
Perpetual Endowed Scholarships
FEF manages many industry-related scholarships (i.e. AFS chapters), as well as several "Living" or memorial funds. For the chapters, these funds are used each year for their intended purpose in the name of the Chapter. Changing of Chapter officers each year is not a problem, and duplication of efforts is reduced with FEF's established program of identifying qualified students. The memorial funds provide a permanent projection of a cast metal leader's career and, in a real sense, continue the work to which a lifetime was dedicated.
The principal amount is restricted; only the earnings are used to provide scholarships to qualified students. All awards of this type carry the name of the donor, whether it is an individual, chapter or company. For more information, contact the FEF office.
Annual contributions from companies provide the mainstay for FEF activities. Companies receive full access to all FEF students, professors and programs. Companies are encouraged to support the Career Information Session at the College Industry Conference. Extra fees are waved for company contributors and the exposure to future generations of leaders and buyers of castings is priceless. Several recognitions are available, based on cumulative giving: Magnesium-$10,000; Titanium-$20,000; Vanadium-$50,000; Chromium-$100,000; Zirconium-$150,000; Silver-$250,000; Platinum-$500,000; Gold-$1,000,000+.
An important way to help the Foundation is through individual support. Past FEF students and FEF Board Members help to protect and increase scholarships to their Alma Mater. Contributions are given back to the schools whenever possible. Special recognition awards are given as an individual contributor reaches each of the following cumulative levels: Charter-$1,000; Founder-$2,000; Professor-$5,000; Dept. Chair-$10,000; Dean-$15,000; Provost-$25,000; Chancellor-$50,000; President-$100,000; Chancellor Emeritus-$250,000; President Emeritus-$500,000+. To make an individual contribution, click here.
Securities are particularly suited to direct giving. By transferring stocks to FEF, the donor avoids paying capital gains taxes and receives advantages in deducting stock value from income taxes. Life insurance is another possibility when FEF is named irrevocable, sole beneficiary. Proceeds are excluded from the taxable estate of the insured, and annual premiums paid are considered an educational gift. Wills establish lasting and final gifts to the Foundation. These gifts provide simple and convenient ways for you to immortalize your place in cast metals higher education. Donations of other non-cash properties, such as works of art, often can realize greater tax deductions than gifts of money. Special recognition is an important part of the Saugus Society. As with all financial matters of this type, you should seek legal assistance from attorneys qualified in this area. For more information, you can review the Saugus Society brochure.
Special Tax Status
Donors recognize that FEF is a tax-exempt organization, under Section 501(c)(3) of the Internal Revenue Code, and contributions are deductible as allowed by law. In addition, FEF is favorably classified as an organization that is not a private foundation as defined in Section 509(a) of the IRS code.
The Critical Need For Your Support
FEF receives no other support than from the Cast Metals Industry. This cost-effective scholarship program has produced long lasting results for our industry, even to companies who have never hired an FEF graduate. We must not forget the future. We need your support to insure the continued strength of this important effort. Join the lifeline to the future through the Foundation for the Cast Metals Industry - FEF!