The Endowment
Belmont also faces the challenge of providing ongoing support for scholarships, faculty development, academic programs, as well as the operational budget.
In the public sector, educational institutions are underwritten with taxes. Private universities are undergirded by endowment, which is a key source of annual income that equates to a perpetual and solid foundation for the institution's annual operations, scholarships, and critical programs.
Investments by donors through the years are permanently pooled and invested to produce annual income, which enables Belmont University to address top priorities, initiate innovative programs, sustain treasured traditions, and keep the Belmont experience affordable to a wide range of society.
Higher education finance experts suggest that, at minimum, an institution's endowment should equal twice its annual operational budget. At a present market value of only $50 million, Belmont's endowment is half the size needed. Compared to Belmont's peer institutions, Belmont's endowment ranks in the lower third of the group. Through Keeping The Promise, Belmont must do no less than double its endowment.
Ultimately, a $100 million endowment will help keep the cost of tuition affordable for more students and provide flexibility for the changing needs of university programs.
Scholarships
Significantly more endowment is needed to insure that no
qualified, hard-working student is denied his or her choice of a
Belmont education. There are far too many men and women who cannot
enroll at Belmont because they do not have the necessary funds.
Three out of every four Belmont students depend on scholarships or
other financial aid. The unfortunate implication of a modest
endowment is that Belmont does not have enough financial aid to
meet the financial needs of all students who want to come.
Additional scholarship funds are needed to strengthen the
university's cultural, racial, and ethnic diversity, which,
in turn, enhances the overall learning environment for all
students. More endowed scholarships will mean that more students
will gain access to the Belmont experience. Without a doubt,
scholarships are gifts that last a lifetime as they make it
possible for students to achieve their educational and career
dreams.
Faculty and Academic Programs
Endowment impacts faculty in many ways, but most directly by
compensation. In today's competitive environment of
recruiting and retaining the brightest minds for teaching
positions, having sufficient funds to allow the university to pay
full market salaries will insure that we get and keep the best
professors to teach and mentor Belmont students. Endowment also
sustains and strengthens academic programs. Teaching materials,
laboratory equipment, computers and other constantly changing
technologies are expensive to acquire, maintain, and ultimately
replace. We must also continually add to the library's
collections of books, journals, and technology for Belmont to
remain relevant to the future.
Scholarship Endowment
$34 Million - To recruit and retain the number of students that
Belmont has the potential to serve, we must be able to meet the
financial needs of the qualified students who apply. Need-based and
merit-based scholarships will relieve pressure from tuition and
assist the university in increasing enrollment. The availability of
sufficient financial aid will keep the quality education Belmont
provides accessible to those who can benefit from such an
opportunity, without regard to their financial circumstances.
Faculty Endowment
$5 Million - To be an effective learning community, faculty must
model for students the attitude and behavior of continuous
development and lifelong learning. A stronger endowment will
support continuing education for faculty to engage in activities
that will further enhance their abilities to be premier teachers.
It will provide release-time for faculty to develop new courses and
teaching materials, and for staff to further enhance their
job-related skills. Endowed faculty chairs will empower Belmont to
attract and retain faculty members who have the rare combination of
leadership, outstanding scholarship, and teaching ability.
Academic Program Endowment
$5 Million - Program content and its delivery systems need
constant renewal. There must be increased funding to expand
existing initiatives. This includes programs such as Studies Abroad
and the Belmont Undergraduate Research Symposium. New initiatives
such as a renowned artist series or a distinguished speaker program
will greatly enrich the academic experience.
General Endowment
$23 Million - With each new change made to the campus, a
long-range support system must be put in place to maintain those
improvements. A General Endowment will provide income to maintain
the physical plant, offset the cost of everyday operation, and
provide enough flexibility to address the university's
greatest needs as they change over the years.
