the Hill 2004 - Hoover Library - McDaniel College

Report Endowment
Must Ouadruple
in Size to Meet
Future Goals
TheirmiSSiOI1'if~hey
chose to accept It,
was three-fold:
to determine
adequacy
the
of the
Col\cge'scxisting
endowment; to identify
types of endowed
that should
funds
be sought,
and to recommend
strategies to engage and
inspire donors.
Accept it they did. In the waning days of
2002, a dream team of26 high-Bchieving
alumni and friends formed the National
Committee on the Endowment and set to
work. Rand BLlzer'72 chaired the committee
and Lee Rice '48 served
OAU
as vice-chair.
On Oct. 18,2003, committee member
and new College Trustee Mary Lynn
Durham'70 presented the group's findings
to the Board of Trustees.
We'll spare you the long version. Here is
the bottom-line:
McDaniel is at the bottom, when
compared to peer colleges, in terms
of relative endowment size-despite
significant growth from $5.7 million in
1978 to $55 million in fiscal year 2003.
A long-term endowment goal ofS200
million should be established by the
College. The nommirtee arrived at this
figure after evaluating future funding
needs, particularly those detailed in the
College's new strategic plan and campus
master plan. The group also recognized
that recent reductions in funding from
the State of Marvland,
as well as the
College's heavy dependency on tuition,
room, and board as a primary source of
revenue, creates an even greatcr urgency.
The top marketable fund types, when
analyzed and ranked by criteria that
included their fit with the College's
strategic objectives and their likely
Mary lynn Durham
'70, along with 25
College friends
andalumni,spent
several
assessing
endowment
months
the
and
ways to increase
its size.
appeal to donors, included scholarship
funds, endo:,"'cd ~nds for technology
and academic
chairs and professorships.
Faculry development funds, lectureships,
and endowed funds for the establish_
~~:~l~::o~~~:~~~~.r Excellence, were
Inspiring donors to support the endow,
ment will require marketing messages
that tie the need for endowment t
the College's vision ~nd strategic a
planning, the committee found. The
group 3.lso suggested building and
~~~~~~;~i;~~~~~:1~t;~;~1~~r~:1~ha~1;ollege
Current d.on~rs, as well as the larger
cOIl~mulllty, including regional
business and community leaders .•
State Funding of
Higher Ed in Jeopardy
Severe budget curs thrcaten Maryland
colleges.
Sta~e ai~ ~o the 18 private colleges
and urnversmcs 1n l\tlaryland through
the joseph A. Sellinger Program was
cu.t by 32 percent last year. For McDaniel
this W;lS a rcductlo.n of over $1 million in '
the current operations budget.
McDaniel and other member institutions
of the Maryland Indcpendenr College and
U111verslty AsSOCIation (MICUA) have
Gift Highlights
DOROTHY HOLLIDAY '3~ GRAHAM
$151,960
The final distribution
made to establish
of a bequest
the Samuel A. &
OorothyH. '30 Graham and RobertR.
& Ethel H. '3JJackson
Fund. This
unrestricted endowed fund is named
in honor of the late Mrs. Graham,
her husband Samuel. her sister Ethel,
and brother-in-taw,
Robert.
MARTIN K.P. & KEllY HILL
$150,000
Made to support McDaniel
College's
2003-04 Annual Fund. The Annual Fund
provides critical operating dollars that
help reduce the College's dependency
on tuition as a primary source
of revenue;
supports annual scholarshipS for
students who would not otherwise be
able to attend McDaniel
College,and
increases funding available for librarv
acquisitions, faculty development and
new technology.
banded together in a grassroots effort to
keep the Sellinger Program in tact.
Alumni, current students and friends of
McDaniel arc encouraged to participate by
going to M]CUA's interactive website
(www.micu;lconnection.com). where they
can Contact their state senator or deleg: 1te
with a few clicks of the mouse
theirsuppon.
and voice
The Sellinger Program assists priv,lte
colleges, including McDaniel, in creelting
partnerships with business and industry
through workforce initiatives, meeting
workforce shortages in the stare, streng th -
e~ll~lgcommunity service programs, provldmg
adequate financial aid to qualified
MaryLmd residents, and enhancing tr~nSferab!li~
of community college students.
\Nl~ Just 3 percent of the St;lte'S investment
III hIgher education, the MICUA
institlltiollsserve
almost 48,000
students in
MaryLmdand
award 25 percent
of all degrees
conferrcd,ll1l1wllly.
, College oHici;lls
recognize thnt
contributions to the Annual rund ,lnd the
~ndowment
will help offset the loss of
lIlcome from the Sellineer Proaram
ever ~our gift willl11'lke
.
f
. Rich Kief, vice president
InstiUltlOnal advancement..
o
30'MoOANIElCOllEGE