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ENDOWMENT GROWTH$5.3 MILLIONAn endowment makes a promise to current and future alumni that there will be a strong Golden Gate University for centuries to come. No other act of generosity has such power to influence and support the mission of an institution over time as does the creation of an endowment. It is a deep and lasting measure of commitment to our future.A strong endowment is fundamental to a nonprofit private university. GGU is a private, not-for-profit institution entirely dependent on its own resources. While we deliver a high-quality education at a lower cost per student than state schools, we operate in a highly competitive environment. We compete with state schools receiving government subsidies that allow fees to be set at a fraction of the cost of education. We compete with private colleges and universities with large endowments to augment their tuition revenue. We compete with for-profit institutions that have access to funds through capital markets.Building an endowment is a relatively new but important goal for GGU. Comparable schools boast substantial endowments, and Golden Gate is lagging behind. To fulfill our mission and build a strong future, the time has come to focus on building the university endowment.Endowed funds may be named for the benefactor or in honor or memory of another person. Allocated earnings are spent each year for a variety of purposes, depending on the type of fund from which they come. There are two types of endowment gifts: unrestricted and restricted. Unrestricted endowment gifts ensure the university is here 100 years from now and beyond. Unrestricted gifts are among the university's most valuable &mdash they are given with the knowledge that the needs of the university will change over time. The decision on how best to use the funds rests with future GGU boards of trustees. Restricted endowment gifts, established by a gift of $100,000 or more, may be designated for specific purposes: scholarship aid, technology programs, library resources, professorships, visiting lecturers, internships and other needed projects. Named restricted endowment funds may be created at the following levels: • Endowed Deanship: $2,000,000 • Endowed Faculty Chair: $1,000,000 • Endowed Professorship: $500,000 THE COMMITMENT To bridge the gap between tuition and the actual cost of education, it is essential that we continue to build an endowment to ensure the future of Golden Gate University. To do so, we must rely on the commitment of our alumni and friends to contribute the $5.3 million needed to grow the university endowment to secure GGU's future and support its mission in perpetuity.• Endowed Scholarship: $100,000 |
