Music stars donate money to USC
May 17, 2013
Many professionals are interested in making sure their industries are successful well into the future and recruit people to create a new generation of experts. They form programs and initiatives within their sector or at a university to make this happen.
Music veterans Jimmy Iovine and Dr. Dre had this sentiment in mind when they recently gave $70 million to the University of Southern California. The money will be put toward creating the USC Jimmy Iovine and Andre Young Academy for Arts, Technology and Business Innovation. The center will not only be for those interested in the arts, but also entrepreneurship, marketing, computer science and other concentrations.
"The vision and generosity of Jimmy Iovine and Andre Young will profoundly influence the way all of us perceive and experience artistic media," USC President C.L. Max Nikias explained. "Our goal is to ensure that the academy is the most collaborative educational program in the world."
USC has been the recipient of numerous donations recently. According to The Associated Press, W. Graham Arader recently donated $30 million in engravings, lithographs, maps and watercolors, among other materials, to the school.
Foundations and organizations that provide annual funding might benefit from nonprofit accounting software, which can help board members audit funds and make sure the correct amounts are being distributed to various programs each year.