Frederick J. Kogut is determined to increase economic conditions in Africa as well as in Western New York by providing a fund to help students achieve their goals.
The Joseph W. Kogut Economic Development Award, named in honor of Frederick Kogut's late brother, will be presented to a student in the economic department in a month.
Increasing economic conditions in Africa and Western New York was one of Joseph's goals.
After graduating from UB as an economics major, Joseph joined the Peace Corps. He was sent to Nigeria, but was transferred to a different country because of a war there. He helped to develop coffee agriculture for three years before returning home to start a family.
Joseph was diagnosed with Non-Hodgkins Lymphoma at only 60 years of age. He died a year after being diagnosed.
"We wanted to do something to honor Joe," said Frederick Kogut, who graduated from UB as a history major in 1960, gaining his masters degree four years later.
Kogut retired as Dean of Student Affairs and is now an admissions counselor for UB. The award, he said, is the result of an endowment fund. This system allows the student to receive a portion of the interest generated from the amount of money that has been set aside.
According to Isaac Ehrlich, chairman of the economics department and SUNY distinguished professor, the annual fund will try to identify students who meet a list of criteria.
"We would like to find candidates who will be willing to participate in a project focused in the places of interest," Ehrlich said. "This is in order to ensure the recipient is truly interested in the goal of the fund."
A committee to manage the fund has not yet been formed. According to Ehrlich, there is still a great deal of negotiation and talk that has to occur between the two parties before the committee can begin to exist. There was a great deal of hope, however, that these problems will be quickly resolved. As a result, Ehrlich hopes the recipient of the award will be chosen sometime next month.
Although the committee has yet to be created, there are some ideas for the criteria that the winner must exhibit in order to catch the department's eye.
The recipient, Kogut said, must be concerned with the welfare of the economy of Western New York.
"The economy in New York has been hurting for a long time. I think this is a good way to help give it a boost," Kogut said.
Another stipulation, although not set in stone, suggests that the winner be an athlete, like Joseph and Frederick Kogut who were heavily involved with sports such as football.
This fund will not only be for undergraduates, Ehrlich said.
"We hope to find candidates at all levels who are interested in developing the economy of Africa," he said. "However, this is going to be left up to the judgment of the committee, which emphasizes how important it is that the committee is formed soon."
All of these requirements ensure the funds goals will be accomplished.
"This will help students gain the experience they wouldn't be able to get in the classroom," Kogut said.
He said that improving a UB student's financial situation and education would benefit the entire region.
