Cooper Standard Creates New Community Foundation

Novi-based Cooper Standard announced the creation of a new foundation Monday.

A release from the company states the Cooper Standard Foundation will support children's charities, education, health and wellness, and community revitalization within the communities Cooper Standard employees work and live.

"Cooper Standard is proud to expand its philanthropic initiatives with the establishment of the Cooper Standard Foundation," Jeffrey Edwards, chairman and CEO, Cooper Standard said in a release. "The foundation is being launched to further the reach of Cooper Standard's charitable giving and has been funded with an initial $2 million to be distributed in the next two years. Future funding is expected to increase as Cooper Standard continues to grow as a leading global automotive supplier."

According to the company, the foundation's employee engagement program will encourage employees to raise charitable funds and earn a matching contribution.

In addition, through the foundation, children of employees can earn scholarships when attending a U.S. university based on grade point average, leadership and community involvement.

Each year, the foundation will offer 20 one-year $2,500 scholarships and 50 one-year $1,000 scholarships to deserving students, the release states.

"Cooper Standard and its employees embrace the importance of community involvement and this new avenue will further support and encourage employees to get involved and benefit the communities where they live and work," the release states. "Cooper Standard and the Cooper Standard Foundation will support numerous community organizations and initiatives in close proximity to the more than 75 facilities it operates throughout the world."