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Not surprising, but worth noting.
Pro Ecclesia, Pro Mundus
Good stuff! Baylor has raised A LOT of donations over the last few years.
In my mind that is job 1A of the president of a university. Kudos to Starr. He's also done a heck of a job on jobs 2+
That is really great news, and sends a message that we're not getting getting our priorities out of whack, only raising big money for athletics. It would have been a bummer if this effort would have fallen short.
However, the additional scholarships that will be generated from this $100MM fund (I'm guessing about $4 million/year) will be dwarfed by the 6-7% tuition increases that presumably will continue to occur on an annual basis. Those annual rate increases have to be reigned in.
100 million via 11,000 = 9100 a person
You only get the earnings on the $100MM to be used for scholarships. $100MM can be expected to generate distributable income of an avg of 4% per year, so that $100MM would produce $4 million of scholarship dollars per year, or about $350/student/year.
200 full rides
Gotta give some credit to the BOR as well. They hit a home run with Starr.
Any idea of an accurate endowment figure these days? Have to imagine it's gone up significantly with the markets.
This post was edited by WILLIS 12 months ago
Speaking of size of our endowment...
Cory Case Scholarship Fund - $26,000 and some change - distributing out $350 a year to a student.
Larry Richardson Fund - $27,900 as of last month - distributing out $400 this year.
Cory's goes to a deserving pre-med student, Larry's goes to socio-economically impacted students of any major.
If you guys have $10 a month extra laying around, we could get these guys up to a full scholarship within the next couple years.
http://www.baylorbearfoundation.com - join and list me as your referral - Mark_Carroll@baylor.edu
A Big O a week.
Then what you want is for Baylor to be endowment driven rather than tuition driven. That's part of the purpose of this initiative. And, really, this was a trial run. You can rest assured there will be a much bigger campaign on the horizon. Two billion dollars is a starting point and we're nowhere near that. Cutting tuition isn't the answer. Growing the endowment to be our driver is where the focus needs to be.
Exactly gramps. Rice, a school of 5000 has an endowment of like 4.5 billion. Thats what we've got to shoot for. It can be done.
This 100 million should have pushed the endowment nearer 1.2 billion.
Stanford is the way we should look. While they get more money from research grants, etc, their endowment provides for the students. UT grew their endowment by investing $4B in gold a few years ago. That has paid off nicely for them. But as far as privates, I think Stanford has the road map.
Outstanding. Congrats to all who led and followed.
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