UA-R-GC-1914-01-01-1955-06-03_Page-042

27 V. An :endowment i3uildin; Program for the University. The whole program thus far described assumes the accumulation of ne,r endowment funds for the University, sufficient in amount to support the continuing new pro-gram after all Ford Foundation support will have been withdrawn after 1960-61, including the support now granted to the `social Research Center. The amount of this annual support needed, as indicated in Table III, is ,,6175,000.00. Calculated at a net productive interest rate of four percent (4;6), it ,Mould require an endowment of ,6.,375,000.00 to produce this amount. Given "leverage" support by The Ford Foundation, and given financial Lid sufficient to conduct a major fund. raising campaign, and given the program strengthening assumed in the foregoing treatment of terminal and continuinz program developments, and given sufficient determination and willingness to work on the part of the entire Board of Trustees and staff of the University, this amount can surely be raised over the years 1956- 57, 1957-5e, and 1956-59. Given the above, it would seem that the time scheduling for such a major campaign in the life of the University should be soi iewhat as follows;* June 1955 - Initial consideration and general comiti._ent by the Board of Trustees. October or December 1955 - Decision by The Ford Foundation. January 1956 - study and Adoption of procedural details by Board of Trustees. June 1956 - Study and general )1annins of campaign details. October 1956 - Initial organization of campaign and beginning of promotional efforts and creation of working organization. October 1957 - Actual beginning of raisins the r:Loney to continue through 1953. January 1959 - Official ending of campaign. June 1959 - actual ending of the follow-up of the campaign. In the light of the present situation of the University with respect tu the paucity of supporters, the small number of potential donors of large gifts now known and the at present almost non-existent relationships of the University with hig business interests, it is likely that the University can raise no more than half of the total amount needed, or .2,137,500.00. Tais limitation on the )over of the Univer-sity to raise endowment funds 'lust be considered in the light of the building and other development prograus which the University is also undertaking at this same tip e. (These 'rill be described later in this paper). It is respectfully requested, therefore, that The Ford Foundation grant to the University an amount equal to the amount taie University is able to raise, in the program indicated, for endouraent funds, the amount being no larger than Í,r2,187.500OE. It is suggested that it be payable over the three-year period according to the *liuch calendar leeway must be allowed in details, although the endin, of the effort should be no later than indicated