Fulfilling a Critical Need
Raising funds for fellowship support is a key priority for Campaign Minnesota. Graduate students are an indispensable part of the intellectual fabric of a great research university such as the University of Minnesota. They conduct experiments and do field research, assist faculty in research and teaching, and facilitate the movement of ideas from the lab to the marketplace. The recruitment of high quality graduate students is a key piece in ensuring that the University remains among the world's top institutions in many fields. But competition for students is intense. To strengthen our ability to attract top students, we must increase the level of financial support that we can offer.
How this Opportunity Was Created
The 21st Century Graduate Fellowship Endowment was made possible as a result of the licensing agreement completed last fall with Glaxo Wellcome PLC, a pharmaceutical company. The endowment is created through royalties generated by worldwide sales of Ziagen, an AIDS drug that contains antiviral compounds created by researchers in the College of Pharmacy. The research team was led by Professor Robert Vince, who patented the discovery that was licensed to Glaxo Wellcome.
Eligibility for Using the Matching Funds
The new endowment fund is available to match gifts supporting fellowships in the 185 graduate programs administered by the university's Graduate School. Nearly 10,000 students are enrolled in these programs. Gifts must be at least $25,000 and designated for endowment to be matched. Deferred gifts are not eligible for the match. Donations may be made by individuals or groups of individuals. The match will start once the endowment reaches $25,000.
How Does the Match Work?
Your gift of $25,000 or more will be used to establish an endowment fund.
This means that the principle of the gift will be invested, and a percent
of the returns, usually 5 percent, will be used to support a fellowship
in the program you have chosen. This is called the payout. The 21st Century
Graduate Endowment Fund will match the payout to the program you have
designated, thereby doubling the impact of your gift. The principle of
your gift remains intact and any investment returns remaining after the
payout are added to the principle to increase the value of your gift and
protect against inflation.
For more information
The development officer for the unit, program or campus you are interested in supporting can provide more information about this matching opportunity and whether your gift is eligible. You may also call the University of Minnesota Foundation at 612-624-3333.
Fellowship Match Doubles the Impact of Gifts