SOURCE OF WEALTH: Beal Financial Corporation
FUNDING AREAS: STEM Education, TBD
OVERVIEW: Andrew Beal does not appear to have a formal charitable vehicle. He’s an advocate of STEM education, particularly mathematics. He also engages in philanthropy through Beal Bank.
BACKGROUND: Born in Lansing, Michigan, Andrew Beal attended Michigan State University and Baylor University. He is the founder and sole owner of Beal Financial Corporation, which has assets of more than $7 billion.
ISSUES:
(STEM) EDUCATION: Beal is a mathematics enthusiast who developed the Beal Conjecture, a complex mathematical problem in 1993. Through the American Mathematical Society, he has offered $1 million to anyone who can solve it. Through his banks, Beal Bank and Beal Bank USA, he donated $1 million to Perot Museum of Nature and Science in Dallas.
BEAL BANK: Beal and his banks, Beal Bank and Beal Bank USA, have donated millions to colleges and charity sponsorships and to prizes for science and math education. The fairs are sanctioned events of the International Science & Engineering Fair, and open to students in grades 6 through 12. He is annual title sponsor of The Dallas Regional Science and Engineering Fair, affiliated with Southern Methodist University, and the Southern Nevada Regional Science and Engineering Fair, affiliated with UNLV. His banks have made donations of computers and computer equipment to the Dallas Independent School District, the Clark County (Nevada) School District, and to NPower North Texas to help low to moderate income schools and areas.
LOOKING FORWARD: Beal is only in his 60s and has time to ramp up his giving. Perhaps he will establish a formal family foundation in the coming years.
LINK: Andrew Beal Philanthropy
