ENDOWMENT
Continued from Page 1
we will bo looking at wavs to
add money to the women's
sports and bring os in better
stead, in a quicker fashion, to
balance our gender-equity equa
tion." he said
Before the beginning of the
1993-94 academic year, all
endowed gilts to the athletic
department in the history of the
University totaled S3 I million.
Brooks said In September 1993
Harold and Margaret Taylor of
Milwnukie pledged SI million
for athlete scholarships
The athletic department has
intensified its fundraising efforts
since 1992. when the State
Board of Higher Education
asked universities to rely more
heavily on private contributions
to pay for college athletics.
Brand said
Brooks re-emphasized the
point "Anv time vou look at
what’s happened in the state of
Oregon with funding for edm a
tion and the funding prob
lems that intercollegiate athletii
programs have had in this state,
1 think it hei omi's apparent that
we can't sit around and wait lor
someone else to solve our prob
lems, he said
Brand emphasized that the
athletic department's work to
find increased private support
parallels efforts bv the Univer
sity as a whole.
"The important point here of
course is that the athletic fund
raising is within the context of
the entire University." Brand
said “Private support for uni
versities. especially public uni
versities, has become
increasingly necessary to pro
vide a margin of excellence "
Brooks was asked it the donor
was a quarterbac k or played
while Brooks has cou< bed at
Oregon, questions that Brooks
declined to answer "He made a
decision to remain anonymous
We urged him not to but he
chose for he and his family but
this is the way he wanted to do
it and I certainly want to honor
that."
The $2.15 million will be
invested and will draw interest
Five percent of that annual
interest, about $100,000. will
Foundation gets help it needs from donors
By Jim Davis
Qr&gon D&fy StrmtAkl
Imagine asking your boss for a raise
imagine asking your boss for three times
your present salary Now imagine gotting
it.
The University of Oregon Foundation
did |ust that Foundation workers asked
donors to help improve the University in
connection with the University’s strategic
plan And it worked
Brodie Remington, vice president of
public affairs and development, said the
Foundation will raise nearly $50 million
dollars in the initial phases of an upcom
ing fundraising campaign
To put $50 million dollars in perspec
tive. consider that that number is $34 mil
lion dollars more that was donated last
year. And six times the amount raised five
years ago.
More money was raised just last lire em
ber than has been raised in any previous
yvar in the history of the Foundation.
Remington said ho believes the enor
mous growth in funds is hard work on the
part of the Foundation.
"I don't want to sound trite," Remington
said, "but we're just trying a lot harder
We're getting more people involved, and
we re raising funds more creatively."
He also credited the donors as "people
who believe and care about the future of
the University."
This fundraising is the informal begin
ning of a major campaign that will be for
mally announced with a public
celebration in October
"The best thing that wo can do is to got
alumni to come to campus," Komington
said, "and wo need to get those alumni to
go class, meet with professor and talk with
students "
The fundraising drive will have a go«l of
raising between $120 million and $150
million dollars in a five year span
The money raised in this drive will
specifically he geared toward improving
the quality of the University. Remington
said.
He cited undergraduates, professors and
extracurricular groups sut h as the Muse
um of Art and intercollegiate sports as the
main beneficiaries of the donations
Undergraduates will receive a better
education with more freshmen seminars,
expanding FIG's, increasing smaller class
es and student scholarships. Remington
said.
A major thrust of the campaign will be
to secure endowed professorships and
endowed chairs for the University's indi
vidual departments.
An endowment is n large amount of
money sot aside by the University where
the Foundation only uses the interest. The
money is invested and the endowment
grows with inflation.
Thus, an endowed professorship is half
a million dollars set aside to pay for the
salary of one professor. The endowment
for a chair is one million dollars
Remington said ho predicts the Univer
sity will gain $20 million dollars in
endowments by the end of this fiscal year
which is June .10. The University only had
$fi() million dollars in endowments prior
to this fis< al year.
Donations will also help the University
by increasing technology such as the new
union catalog that links the University's
library with the libraries of the state's
ritgionnl colleges
The University receives on average of
25.000 gifts a year. These gifts range from
one dollar to millions of dollars.
pay the loott)<ilI i ii.n h's siil^rs
H rooks said
Interest named above that five
peri tin! vs ill be added lo the
principal investment and will tie
used to increase annuul pu\
ments <is the value o( the current
$100,000 a year depreciates
through inflation, llrooks said
The endowment is established
for perpetuity, he said
Christopher Simpson, director
for the University's Office of
Communications and Market
mg. said the Universitv has
checked with the National Col
legiate Athlete Association to
see if other universities have
received similar donations
"The NCAA was not aware of
anybody else that has made a
donation of this magnitude, but
it has not kept rei ords." Simp
son said.
However, endowments made
to athletic programs are not
uncommon in the Pacific-to
Conference or elsewhere in the
country The University of
Southern California has a pro
gram to establish an endow ment
for each playing position on its
football team
Do we capture
your interest?
The Oregon Daily Emerald is
looking for an energetic and
creative student with an eye
for capturing news, sports and
feature assignments to fill a
staff photographer position.
THE FINE PRINT
If you possess these skills and you're interested m gaming vatu
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SNocAer at 346-5511 Deadline is Friday. Feb 18 at 5p.m
THE SAGA CONTINUES...
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