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Press Release

FOR IMMEDIATE RELEASE


Media Contact

Beth Sorensen
Office of Communications
503/777-7574
beth.sorensen@reed.edu


Reed College announces $2 million financial aid gift

Longtime supporter of education and the arts Sue Cooley pledged the Edward H. Cooley Scholarship Fund in honor of her late husband


PORTLAND, OR (February 9, 2004) - At a recent meeting of the board of trustees of Reed College, president Colin Diver announced a pledge of $2 million by Portland philanthropist and longtime Reed supporter Sue Cooley to establish a scholarship fund in the name of her late husband, Edward H. Cooley.

The Edward H. Cooley Scholarship Fund will be an endowed fund providing financial aid each year to students with need. The pledge comes as Reed College launches a $20 million development initiative to build the endowment for financial aid.

"Reed has benefited mightily from Sue and Ed's generous engagement with this college," noted board president Daniel B. Greenberg '62, announcing the gift. "We are already better positioned to provide scholarship support for deserving students who could otherwise not attend."

Sue and Edward Cooley
A staunch supporter of education and the arts, Sue Cooley made her gift in honor of her husband Edward, who died in 2000. The Cooley's long association with Reed began in 1966, when Ed was named chairman of the Reed nuclear reactor committee and donated funds for the facility. After joining the board of trustees in 1968, he was appointed chairman of the board's fund management group. During his time on the board, Cooley chaired the foundations campaign committee in 1982, was a member of the executive committee (1971-76, 1985-88, and 1998-2000), and served on a 1979 committee to investigate student housing. In 1985, then college president Paul Bragdon expressed his thanks to the Cooleys, writing "you've been very helpful to the college, and very encouraging to me, in the effort to put this place on a proper foundation."

In 1988, the Cooleys, along with John and Betty Gray, gave a gift of $4.7 million to Reed, part of which established the 3,800 square foot Douglas F. Cooley Memorial Art Gallery in honor of the Cooley's son Douglas, who died in 1982.

Sue Cooley is a board member of Self Enhancement, Inc., a local non-profit that offers a comprehensive program of preventive education for inner-city children, giving them a sense of self-respect and purpose in life.

In addition to his association with Reed College, Ed Cooley also served as chair of the Oregon Graduate Institute of Science and Technology; a trustee and chairman of the Medical Research Foundation of Oregon; director of the Oregon Historical Society and a board member of the Oregon History Center; and a board member of the Oregon Regional Primate Center. In 1990, Ed and Sue were honored as outstanding volunteer fundraisers by the Oregon Society of Fund Raising Executives.

Financial aid initiative
Over the past few years the number of students receiving financial aid has grown rapidly, as has the amount of aid they require. Currently, 57% of Reed undergraduate students receive assistance in the form of grants, work opportunities, or loans.

Acknowledging the urgent need to preserve Reed's historic role as a college that changes lives, this past fall the board of trustees authorized a three-year initiative to raise $20 million to enhance the endowment for financial aid and strengthen current support for the annual fund.

For further press information, please contact Beth Sorensen, Office of Communications, at 503/777-7574 or at beth.sorensen@reed.edu .

Reed College, in Portland, Oregon, is an undergraduate institution of the liberal arts and sciences dedicated to sustaining the highest intellectual standards in the country. With an enrollment of about 1,360 students, Reed ranks third in the undergraduate origins of Ph.D.s in the United States and second in the number of Rhodes scholars from a liberal arts college (31 since 1915). Visit www.reed.edu for further information.

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