Foundation
Up to 1995, since the founding of the scholarships in 1939, Mr. Koo personally financed all the awards and costs. In his twilight year with ailing health, in 1995, he donated 10 million HK dollars to the Shanghai Education Development Foundation to be earmarked for the long term funding of the worthwhile scheme.
In addition he also donated a property in Shanghai, partly used as office for the Scholarship administration and functions and the rest for rental income to fund the relevant expenses for the running of the scholarships.
In late 1995, he also formed a charitable trust, the "Shuping Scholarship Foundation" in Hong Kong, for supplemental support to the Shu Ping Scholarships in China. Donations to the Foundation will be used exclusively for the advancement and development of the Shu Ping Scholarship works and activities in China.
The Executive Committee of the Shu Ping Foundation, formed in 1995, consisting of The representative officers of the two associations and family members, is the central governing body for the prudent allocation of the fund to the various areas of the Scholarship Activities.
Read more about this topic: Shuping Scholarship
Famous quotes containing the word foundation:
“I believe that the mind can be permanently profaned by the habit of attending to trivial things, so that all our thoughts shall be tinged with triviality. Our very intellect shall be macadamized, as it were,—its foundation broken into fragments for the wheels of travel to roll over.”
—Henry David Thoreau (1817–1862)
“In strict science, all persons underlie the same condition of an infinite remoteness. Shall we fear to cool our love by mining for the metaphysical foundation of this elysian temple? Shall I not be as real as the things I see? If I am, I shall not fear to know them for what they are.”
—Ralph Waldo Emerson (1803–1882)
“Surrealism is not a school of poetry but a movement of liberation.... A way of rediscovering the language of innocence, a renewal of the primordial pact, poetry is the basic text, the foundation of the human order. Surrealism is revolutionary because it is a return to the beginning of all beginnings.”
—Octavio Paz (b. 1914)