June 10, 1994
TO: ICI EDUCATION FOUNDATION BOARD NO. 6-94
RE: Nasdaq Stock Market Foundation
__________________________________________________________
Recently I met with Doug Parrillo, Vice President of the
Nasdaq Stock Market Foundation, Inc., to learn more about this
organization. (Mr. Parrillo is also Senior Vice President of
Corporate Communications at NASD.)
The Foundation was formed as a nonprofit subsidiary of NASD at
the end of last year "to advance educational purposes for the study
of business, economics, and finance," primarily among secondary
schools and colleges. Nasdaq Co-chairman Victor Wright of Goldman,
Sachs is Chair of the Foundation; NASD President Joe Hardiman is
President of the Foundation; Foundation Board members are all
either NASD or Nasdaq Board members. Charles Johnson of Franklin is
a Foundation director.
Nasdaq's Board agreed to launch the Foundation with $3 million
and to make annual contributions whenever possible. Although the
Foundation may develop some materials internally, at present the
plan is to focus on grantmaking to other economic education organi-
zations. As examples of possible grants, Mr. Parrillo mentioned the
electronic conversion of SIFEE's Stock Market Game,J funding of
economic education research, conferences, and publications, and
funding of Academy of Finance high schools (an American Express
program). Funding proposals may eventually be solicited.
I briefed Mr. Parrillo on ICIEF's program and we agreed to
keep each other informed, with an eye toward opportunities for
collaboration.
Please call me with any questions or comments.
cc: Ron Lynch, ICI
Dan Carper, SIFEE