The $500,000 grant to MIT will establish the Paul L. Joskow Fellowship Fund (the “Fund”) in honor of Paul L. Joskow, president of the Alfred P. Sloan Foundation from 2008 through 2017. MIT will hold the grant as an endowment, allowing donors and others to add to the Fund at any time through gifts, donations, and distributions from trusts, estates, or other entities. MIT will use Fund income to provide financial support, including fellowship support, to graduate students studying energy economics, environmental economics, and industrial organization, in accordance with MIT graduate student financial assistance policies and procedures. Support may include funds for the acquisition of research data, for travel to professional meetings, and for other research-related outlays by the students. Recipients of fellowship assistance from the Fund shall be known as Paul L. Joskow Fellows. This grant was made on the occasion of Dr. Joskow’s retirement as President of the Sloan Foundation and in tribute to his decade of service to the Foundation and its mission.