The endowment is one of three financial cornerstones for the college, and supports long-term goals. The current initiative aims to raise the endowment to $100 million.
Reaching that goal will enable the College to use income from endowment to undertake new and exciting initiatives not made possible by tuition, Hiram Fund revenues or current endowment, which is about $60 million.
Hiram College's endowment is made up of monetary gifts to the College, made by alumni and friends, that is then invested. The sum of that money, or the principal, is placed in the College's investment portfolio, which is managed so that it continues to generate income. Only the interest earned is spent, ensuring the endowment will support future generations of students.
By giving to the endowment, you are making a gift that will impact Hiram College and its students for years to come.
"There can be a role for everybody. Endowment is different from other fundraising because it is about longer term goals. People support endowment in many ways. … Endowment can be your personal legacy to the school that made such a difference in your life."
Kathy Coleman ’87, Trustee, Endowment Initiative Chair
Ways to support the endowment:
- Student scholarships
- Endowed chairs
- Named professorships (honoring your favorite faculty member)
- Centers of Distinction director positions
- Seminar series
- Research fellowships
- Teaching resource funds
- Faculty or student travel
- Student internships
- Classroom enhancements
- Technology funds to sustain research
- Building additions and renovations
- Unrestricted programming endowment
- Entrepreneur in Residence program
- Visiting Scholar in Residence
- Publications and book series
- Endowed lecture series
Now is the time to make this next step, as the past 10 years at Hiram College have been marked by prosperity and growth. The foundation for future excellence is in place. And as a liberal arts education continues to be the best preparation for students as they enter an ever-changing world, Hiram’s role becomes ever more important to prepare the next generation of leaders and entrepreneurs.
Hiram Yesterday and Today
Hiram College traces its roots to 1850 when it was founded by the Disciples of Christ as a non-sectarian, co-educational institution of high grade" initially operating under the name Western Reserve Eclectic Institute. It has always focused on the liberal arts.
Why $100 million?
Reaching $100 million as the next plateau for endowment will enable the college to undertake new and exciting initiatives not made possible by tuition or Annual Fund revenues. According to the Association of Fund-Raising Professionals, the general rule is that selective liberal arts colleges need to have endowments three times the size of their operating budget. Academically, we are competitive. Our total endowment is not.
As a point of reference, the 2011-2012 Hiram operating budget is approximately $32 million. In approximate terms, Hiram’s current endowment is about $60 million.
Going forward, the college is actively pursuing additional revenue in two areas: non-traditional revenue sources, including distance learning, business initiatives and more use of the campus year-round, and accelerating on-going initiatives.
In recent times, much has been written about “skills-based” education that is focused on very intense but narrow approaches to specific requirements and which has as its core purpose instruction that leads to a first job. A liberal arts education, on the other hand, is focused on preparing leaders, managers, entrepreneurs, inventors and creators for their last job. These are the people who will develop opportunities for those who are served by traditional skills-based instruction.