UA-R-GC-1914-01-01-1927-10-21_Page-005

Minutes October 21, 1927. deficit, that of $1,333,000 raised during the histor; of this University project, $700,000 have been conserved in the form of properties or trust funds. "These four major considerations, as well as many less striking yet important other arguments, lead to the conclusion that the time is now ripe for an earnest and persistent undertaking by the Trustees to secure for the American University at Cairo an adequate endowment. As the financial objective for any financial campaign must necessarily cover the operating expenses of the institution during the period of the campaign and ought likewise to include any outstanding oblig-ations upon the University's property, we recommend that the financial objective be fixed at 43,443,000 and that it include the following items: 70 1 FINANCIAL OBJECTIVE OF THE ENDOLMENT CAMPAIGN Operating Expenses: (a) For existing Work during 1927-30 Endowment: (b) (c) (d) 303,000. To produce annually 4101,000 for present budget @4i10 To provide annually y,20,000 add-itional for necessary Expansion @4 o Faculty Pension Fund Property and Buildings: (e) Present Obligations on Property (f) Completion of Land Purchases (g) New School of Oriental Studies Building Other Items: 2,244,000. 44,000. 100,000. 2,788.000. 77,000. 50,000. 50,000.. 177,000. (h) Maximum Allowance for Campaign Expenses 12.5,000. (i) Contingent 50,000. 175,000. Total 4t3,443,000. The following recommendations were adopted: (1) TIiAT the financial objective of the Endowment Campaign be fixed at $3,443,OÚ0 to be divided into two parts: 92,849,000 covering the present work and 4594,000 covering tuie work of the immediate future: (2) THAT at least two-thirds of the total amount must be secured in large amounts (450, 000 or more) ; (3) THAT one or more unusually large gifts must be secured from individuals or Foundations; (4) THAT substantial pledges of gifts or assurances of active co-operation in the campaign, or both, must be made by the Trustees themselves