Thompson Foundation Celebrates 25th Anniversary With Focus On Two Issues

Media Contact: Lucie Fornasiero; EAFocus Communications; 248.925.6726; lucie@eafocus.com

Plymouth, Mich. — June 17, 2024 — Bob Thompson has always been big on measurements and accountability. An unpretentious man who made his first fortune in the asphalt paving business, his success was achieved by measuring and controlling costs, meeting or beating project deadlines, quality workmanship, and setting new standards for road construction. When he sold his business, the Thompson McCully Company, in 1999, Thompson shared nearly one-third of the $422 million sale proceeds with his employees. Long term salaried employees, who did not have a retirement plan, received a cash bonus of up to $2 million. Those employees who still had years of work ahead of them received annuities of $1 million or more. Hourly union employees that had a retirement plan received $2,000 per year of employment. That same year, Thompson and his wife Ellen (Bowen) Thompson founded the Thompson Foundation with funds from the sale proceeds.

In the beginning, the Thompsons founded and supported the University Prep (UPREP) charter schools in the City of Detroit. They built 10 state-of-the-art-school buildings, complete with furniture, fixtures, and computer equipment. The UPREP schools serve over 4,500 students in grades K-12. The goal of these schools is that 90% of the starting freshman will graduate and 90% of the graduates will be qualified to go to a two- or four-year college or university. The cost to build these schools was over $125 million and the rent is $1 per year. With the K-12 schools in place, the Thompsons added another focus: higher education.

As the Thompson Foundation marks its 25th anniversary in 2024, the Thompsons are increasing their focus on college scholarships with metric-driven outcomes. The Foundation partners with universities to provide scholarships that have well-defined and measurable requirements. The goal of the partnership is to provide an education that ultimately prepares students for meaningful careers and community-centered lives. To accomplish this, in 2011 Ellen Thompson created a pilot program at Grand Valley State University in Allendale, Michigan, called the Thompson Working Families Scholarship Program. This program helps high achieving students overcome financial barriers to higher education. It is now in place not only at Grand Valley, but also at Saginaw Valley State University, Michigan Technological University, and Ohio-based Bowling Green State University (the Thompsons’ alma mater where both majored in education).

The funding formula in the Thompson Working Families Scholarship program differs in many ways from other scholarships in higher education. The scholars receive a total of $11,000 each year, covering much of their tuition. Thompson Foundation funding is $5,500 and the university must match that funding dollar for dollar. This program is funded each year based upon the students meeting the Thompson Foundation required metrics. For example, the scholars must cover any remaining cost of tuition, they must meet a minimum 2.75 GPA, they must meet minimum credit hours, and must complete 20 hours of community service per year.

“I’m convinced that everybody has to have some skin in the game. We have tried it the other way, where we pay all the student’s costs, for some reason, it just does not work,” Bob Thompson said. “The university, the parents, and the students all have to participate. In most colleges, 51% of the starting freshmen graduate. Of the Working Families Scholarship students, 86% of those who start the program graduate.”

By the end of the programs, when the Foundation is terminated in 2033, it is projected the Foundation will have spent nearly $300 million, mostly on education. Also, if all goes as planned, the Foundation will have supported over 13,000 Working Families Students and graduated nearly 8,000 college-ready students from the University Prep Schools.

About the Thompson Foundation

Established in 1999 by Robert and Ellen Thompson, the Michigan-based Thompson Foundation forms partnerships with higher education to provide scholarships that have well-defined requirements. The Thompson Foundation works with its designated partner schools to provide an education that ultimately prepares students for meaningful careers and community-centered lives.