January 24, 2002January 24, 2002
Editor's note: This article is the second of a series to update faculty and staff on the status of University Outreach and Extension's revenue generation initiatives. This information may be shared with council members and other local stakeholders.
University Outreach and Extension is continuing to explore enhancement of the endowment and gifts program, one of the strategies identified by the Revenue Generation Committee in 2002.
Funds raised through a statewide private-giving campaign could provide dependable, long-term financial support for outreach and extension programs, according to the Endowment and Gifts Subcommittee report. The subcommittee recommended a goal of $100 million over the next five years. (See Revenue Generation Plan, pgs. 36-43, S:\UMSystem\Revenue Generation\rev_generation_report.pdf.)
University Outreach and Extension has had an endowment and gifts program since 1984. Contributions to UO/E's current endowments total $1.51 million with a current income of $364,789 as of Jan. 1.
"We're really excited about strengthening our endowment and gifts program," says System Program Director Julie Middleton. "Our first step is to determine our real capacity for fund raising. We have proposals from four companies on the cost of conducting a feasibility study, and we're in the process of talking with those firms now."
Middleton, Associate Vice President Pat Sobrero, NE Business and Industry Specialist Wendy Harrington and UMR Professor Emeritus John Amos are leading this effort.
"What the firms have told us is that University Outreach and Extension has tremendous potential because we're a grass-roots organization," Harrington says. "At the two interviews we've had, the representatives stressed the importance of relationship marketing - cultivating the relationships that already exist. Field faculty build, strong positive relationships every day.
"We envision gifts and endowments supporting local programming," Harrington says.
In 34 counties, endowments already support local programming through the use of interest income earned off the principal investment. The Henry, Grundy and Pettis county endowments have principal balances of $50,000 or more. Six counties have $35,000 or less; and 24 have $10,000 or less. Principal balances total $508,367 for county endowments as of January 2002. Available income from investment of those funds is $152,129.
In addition, 64 counties where accounts have been established endowments are pending until contributions reach the minimum required. Overall contributions to those accounts total $44,094.
On the statewide level, University Outreach and Extension has 19 endowments, totaling $997,012 with current income of $212,660. Among those accounts are endowments to support the UMEA Professional Communicator Award, the Carl N. Scheneman Excellence in Teaching Award and the Missouri Extension Loan and Fellowship Fund.
Many of these accounts support professional development opportunities through fellowship awards to UO/E faculty and staff.
"Given our experience, I believe we are going to be extremely successful as we move forward in securing future gifts," Middleton says.
To learn more about endowment and gift requirements, contact Rhonda Gibler, administrative management director, via e-mail or at (573) 882-7756.
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Eileen Yager,
yagere@umsystem.edu |
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