Funds tied to Enron firm
February 1, 2002
An accounting firm suspected of shredding documents for Enron has been a regular donor to Iowa State and other Iowa universities.
The U.S. Andersen Foundation, a U.S. based charitable arm of Arthur Andersen LLP, contributed to the College of Business at Iowa State, and other Iowa universities.
Labh Hira, interim dean of the College of Business, said he could not comment on the amount of the donation, but half of it was made by ISU alumni who wanted to help improve facilities.
The money was used to construct the Undergraduate Student Services office on the second floor of Carver Hall, he said.
The U.S. Andersen Foundation contributed to the ISU business college by matching funds contributed by ISU alumni employees of the accounting firm.
The Andersen Foundation was listed on the Donor Roll in the spring 2000 College of Business Prospectus magazine.
The donors listed “provided gifts and commitment in support of the College of Business [from] July 1, 1998 through June 30, 1999,” according to the publication.
It is uncertain at this point what kind of impact Andersen’s involvement in the Enron debacle will have on the College of Business, he said.
“The major impact for us will be in the placement of our students [within the company].” Hira said. “I hope it does not impact us.”
Barb Boose, director of communications for the ISU Foundation, said Andersen is a matching-gift company.
“Arthur Andersen matches the commitment of employees,” she said.
Andersen was not listed on the Foundation’s report for 2000-2001, which means the company contributed less than $25,000 during that time, Boose said.
Andersen has given to Iowa State in the past, she said, and the firm gives to many other charitable organizations and universities in Iowa, including the University of Iowa and Drake University.