Activity 5: Scholarship Endowment
The University has seen tremendous growth in its endowment in recent years, growing from about $2 million in 2000 to nearly $60 million today. However, the university’s endowment is unusual, in that more than 95% of the endowment corpus (and earnings) are restricted for research infrastructure and training purposes. This restriction leaves very little in the way of endowment earnings that can be used for educational support. The purpose of an endowment is to provide long term fiscal stability for an institution, which is a major goal of the University. CDU is demonstrating its commitment to fiscal stability through two activities in Title III. Activity 6 focuses on enhancing institutional systems for financial management, ensuring that the university can make best use of financial resources, increase operating efficiencies, and adequately plan and budget for the future. Activity 5, “Building an Endowment to Support Graduate Education” seeks to enhance our long-term financial stability and resources supporting education by dedicating $250,000 in Title III funds over 2 years to the University Endowment, specifically to support educational programs and scholarships. These funds will be matched by the University from non-Federal sources, resulting in a $500,000 endowment created within the grant period. This increases the unrestricted institutional endowment by approximately 25%, an important step in demonstrating our commitment to financial stability and growth of our academic programs.
Angela Minniefield, MPA
Vice-President of Strategic Advancement