PHOENIX – Universal Technical Institute (NYSE: UTI), a leading provider of technical training, established the UTI Foundation, a 501(c)3 nonprofit organization. As the independent philanthropic arm of UTI, the efforts of the Foundation enable eligible students to pursue technical training leading to in-demand careers in the automotive, collision repair, diesel, marine, motorcycle and NASCAR industries through scholarships, grants and other programs. Under the direction of its board of directors, the new non-profit has already awarded nearly $250,000 this year in scholarships and grants.
“The greatest hurdle many aspiring technicians must overcome is securing the financial resources to pay for training,” said Kimberly J. McWaters, UTI president and CEO. “We established the UTI Foundation to help make a difference in their lives, while addressing the demand for technicians in the industries we serve.”
The UTI Foundation, which recently completed its formation period, anticipates awarding approximately $1 million in 2008 to financially assist students pursuing technical training programs at any of UTI’s 10 campuses nationwide. The organization has awarded a quarter of a million dollars in scholarships and grants funded by AAA of Southern New England, Abra Auto Body, Bridgestone/Firestone, Cheryl Bond Student Emergency Travel Grants, Daimler Trucks NA, Honda Racing, Live Nation/Jeremy McGrath, STAR Motorsports and Universal Technical Institute.
“The UTI Foundation is focused on changing the world one life at a time,” said Veronica Meury, UTI Foundation director. “We’re so grateful for the leadership of Kim McWaters and funding from UTI to support the creation of this Foundation. The corporate, organization, memorial scholarships and grants awarded by the Foundation will help students bridge the funding gap between federal aid and the cost of their education. We are dedicated to helping deserving students complete their technical education so they may achieve successful careers in jobs that are in demand.”
The Foundation oversees the UTI Alumni Association fundraising initiatives and directs those contributions to fund scholarships and other worthy causes. In addition, the UTI Foundation helps keep students who may be struggling financially in school by sponsoring student pantries and emergency funds at all the UTI campuses. These programs provide students with food and small need-based grants, which are funded by contributions from UTI employees and others, to cover unexpected emergencies such as medical bills, rent, car repairs and gas.
The UTI Foundation also supports the public service program, RedlineRevolution, an initiative currently under development that addresses the issue of young driver accidents and deaths due to driver error. This teen-centered web site, designed in a series of interactive modules, is geared toward students who are serious about improving their driving skills.
About Universal Technical Institute Foundation:
The UTI Foundation, a 501(c)3 Arizona non-profit umbrella organization that covers all Universal Technical Institute, Inc. (NYSE: UTI) not-for-profit initiatives, is dedicated to raising funds to further its mission and strategic goals. The UTI Foundation supports technical education for the automotive, diesel, collision repair, motorcycle, marine and NASCAR industries through scholarships, grants, career development and other special programs. For more information, visit www.utifoundation.net.
Universal Technical Institute, Inc. (UTI):
Universal Technical Institute, Inc. is a leading provider of technical education training for students seeking careers as professional automotive, diesel, collision repair, motorcycle and marine technicians. The company offers undergraduate degree, diploma and certificate programs at 10 campuses across the United States, and manufacturer-sponsored advanced programs at 18 dedicated training centers. Through its campus-based school system, Universal Technical Institute, Inc. offers specialized technical education programs under several well-known brands -- Universal Technical Institute (UTI), Motorcycle Mechanics Institute and Marine Mechanics Institute (MMI) and NASCAR Technical Institute (NTI). For more information, visitwww.uti.edu.
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