Thursday, April 21, 2016

Could the 1to1 Initiative Be Funded Through Endowments And Not Tuition?

The total cost of moving to the 1-to-1 initiative with the Chromebooks and the requisite infrastructure is nearly $400,000. In order to fund that from an endowment, the principal of the endowment would need to be at least $8,000,000. Our current total for endowed funds is hovering around $1,000,000. We have worked hard over the past 10 years to build the endowment to that level and will continue to do so in futures years. Many of the funds in that endowment are restricted to financial aid for students so they cannot be used for facility and equipment projects.
About half of the funds yielded from our endowment investments ($25,000) would available to contribute to the total cost of the project. Therefore, other sources of funding were necessary.

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