Innovance donates $25,000 to Riverland
Published 9:07 am Saturday, August 16, 2008
Innovance Inc., the holding company for Lou-Rich, Almco KleenTec, Panels Plus and Exact Manufacturing, has pledged $25,000 to the Riverland Community College Foundation for student scholarships. The company announced that it will contribute $5,000 per year, for the next five years, and has designated $3,500 of the annual gift for scholarships for students in industrial programs and $1,500 for general Riverland Foundation student scholarships. The first distribution to the foundation was May 16.
“On behalf of the employee owners at Innovance, we are excited to contribute to Riverland Foundation for the benefit of student scholarships,” said Mike Larson, president and CEO of Innovance. “Over the years, we have hired many graduates of Riverland and they have been a large part of our success. We are very grateful for having the college nearby, and hope it will continue to be a center of excellence for educating students.”
Innovance is an employee-owned company. The donation represents all of the companies in the holding company. The pledge qualifies Innovance to be a member of the Riverland Community College Foundation Change Maker Society.
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The Change Maker Society categorizes various levels of giving from donors. The first level, “Building Hope” acknowledges donors for contributing $1,000 per year for five years; the second level, “Creating Dreams” acknowledges donors for contributing $5,000 per year for five years; the third level of giving, “Changing Lives” acknowledges donors for contributing $10,000 per year for five years.
“Innovance has modeled extraordinary corporate citizenship through this generous gift,” said Julie Anderson, executive director of the River Foundation. “We are looking forward to a strong partnership.”
The scholarships benefit students from a variety of backgrounds and personal circumstances. Some students are just starting out in their lives. Many are the first in their family to attend college, and many students also support families.