Over the course of Campaign for the Colleges, Hobart and William Smith have set a goal of adding $65 million to the Colleges’ endowment. Returns on that additional endowment would add $3-4 million annually to future operating budgets, and bring the Colleges more on par with the endowment size of peer institutions.

The endowment is an investment in the future of the Colleges. Endowed funds exist in perpetuity to underwrite scholarships and internships for deserving students, reward exceptional faculty with professorships, ensure the future of distinctive programs such as global education and service learning, and augment tuition income to help meet the expenses of delivering the kind of personalized instruction that distinguishes Hobart and William Smith among the finest liberal arts colleges.

History of the Endowment

Just 25 years ago, the endowment at Hobart and William Smith stood at $8.3 million; many peers at that time had endowments that were ten times larger. Since then, the Colleges have steadily increased the endowment; over the past ten years, the endowment has grown by close to 200 percent. Through careful stewardship and astute investing, the investment committee of the Board of Trustees has overseen the endowment’s growth to its present value of $178.7 million (as of May 31, 2007). “Of that amount, 34 percent is used for scholarships and financial aid, a critical role that ensures the Colleges have a student body that is academically qualified and diversified in many ways,” says Vice President for Finance Peter Polinak. “Being part of a student body that comes from many different backgrounds—like the society they’ll be graduating into—contributes to the quality of every Hobart and William Smith student’s education.” T o remain one of the top liberal arts colleges, Hobart and William Smith must continually enhance offerings such as signature programs, technology, library acquisitions, research and internship opportunities, and more. Endowed funds provide the flexibility to target these opportunities today while responding to emerging interests and curricular changes for the future.

The Endowment at Work

While continual investments in capital projects build the campus infrastructure, the Colleges’ programs, people and the ongoing maintenance of the campus are supported through the endowment. Endowed funds ensure that the distinguished history of teaching and learning at the Colleges will thrive for generations to come.

Areas where endowed funds provide critical support include:

• Scholarship funds
• International study abroad funds
• Endowed professorships and other positions (e.g., provost, deans, director of the Centennial Leadership Program)
• Visiting scholar funds
• Lectureship funds
• Endowed internships
• Student research funds
• Athletics (e.g., equipment, programs, facilities and positions such as the athletic directors)
• Capital projects (e.g., operations, campus heritage)
• Technology and scientific instrumentation funds
• Discretionary funds (supporting campus, faculty, student needs and initiatives)

Endowed Professorships

Endowed professorships underwrite the work of outstanding faculty members, significantly advancing their intense dedication to the educational and personal empowerment of students. Being named to a professorial chair is the most prestigious and visible honor that can be bestowed upon a member of the faculty, and enhances the work of the Colleges in countless ways.

“The research I conduct in particle theory, seeking to discover the mathematical structure of the universe, is something that requires interaction with others in my field. The funds from the Philip J. Moorad ’28 and Margaret N. Moorad Professorship in the Sciences have enabled me to meet with colleagues to pursue this work. The Moorad Professorship signals the importance Hobart and William Smith Colleges place on having science faculty working at the forefront of their fields, and I am honored to hold the chair.” — Professor Donald Spector holds an A.B., A.M., and Ph.D. from Harvard University.

Endowed Scholarships

Endowed scholarships provide access to talented students whose families are not in the position to fully support the costs of a Hobart and William Smith education. More than seven out of ten students at the Colleges demonstrate financial need. Endowed scholarships help bridge this gap and ensure that our learning community is talented and diverse.

“When we decided to fund this scholarship, our hope was that it would somehow enable a deserving Hobart and William Smith student to reach his or her full potential. What we didn’t anticipate at the time was just how wonderful and personally satisfying it would be to watch someone as outstanding as Ashley Rodger ’07 make the most of her Hobart and William Smith experience. She enriches the Hobart and William Smith community with her work both inside and outside the Colleges’ campus. No doubt that in her chosen career path— education—she will leave an indelible mark on the lives of many other young people. For those alumni considering establishing a scholarship, know this: it is definitely worth the investment.” — Robert ’79 and Nyna ’81 Malley P’10 established the Robert L. Malley ’79 Scholarship, which is awarded to Hobart or William Smith students who have financial need and have shown evidence of leadership skills and academic excellence.

“The assistance provided through the Robert L. Malley ’79 Scholarship has been a significant financial help and is greatly appreciated. The Malleys’ generosity has been an investment in my future as I continue to reap the lifelong benefits of a liberal arts education, as well as a strong contribution to the enduring traditions and pride of the Colleges.” — Ashley Rodger ’07, who is currently pursuing a master’s degree in secondary English education. Her thesis, which will be completed in the spring, is a textual, discourse analysis of how race, class and gender are represented in British fiction.

Endowed Internships

With 25 percent of new college hires coming from within an employer’s internship program, internships play a vital role in the development of students’ career goals and choices. T he Ralph A. (’56) and Jane M. (’58) Pica Endowed Internship Fund was established by the Picas to supplement classroom education with internship experience. Awarded for winter break and summer internships, the fund provides for salary expenses of an unpaid internship or supplements housing and/or other expenses related to an internship.

“From the beginning, this has been a very good experience—an unmatchable learning opportunity. Being provided the privilege to work in the realm of a huge film industry within such a small company (Zoomari Films) allows me to truly understand what they do and how they do it. Moreover, the Ralph and Jane Pica Endowed Internship Fund gives me the opportunity to choose experience over income for the summer.” — John Heavey ’09 interned with Zoomari Films in NYC this summer to learn more about a possible career in the film industry. Founded by Hobart alums Rich Schlansker ’90 and Marc Bloomgarden ’90, Zoomari specializes in film and high-definition projects.

“As a result of the generosity of Mr. and Mrs. Pica, I am able to more deeply explore pet therapy as it relates to children in school. Working with Professor Lillian Sherman and others at the Colleges, I am preparing materials to talk with area school administrators on the benefits of animal assisted therapy. This fall, I plan to bring my research to Geneva Elementary Schools to encourage and assist them with developing a pet therapy program for students. Without the support from the Ralph and Jane Pica Endowed Internship Fund, I would not have been able to embark on this amazing project.” — Kirra Henick-Kling ’08 plans to become a school administrator and is researching pet therapy as an opportunity for students to improve their academics and quality of life.

Endowed Programs

From academics to athletics, endowed funds designated to specific programs address particular needs at Hobart and William Smith while also giving donors the gratification of supporting an area of interest to them. Recently, Timothy and Deborah McKenna P’08 made a generous gift to the William Smith Lacrosse Spring Travel Endowment, which supports members of the Heron Lacrosse Team who don’t have the funds to participate in spring training. The training, which takes place in Florida during spring break, gives team members the opportunity to train against other school teams before the official game season begins.

“We take great pleasure in making this gift to the Hobart and William Smith endowment in gratitude for Jesse’s education and overall experience knowing that it will benefit future student athletes,” say the McKennas. Jesse, who is a tri-captain on the Heron Lacrosse Team and a member of the Student-Athlete Advisory Council which promotes activity between athletics and the campus community, worked with her parents to determine the area within the Heron lacrosse program that most needed their support. In the end, the McKennas’ thoughtful gift was a win-win for their family and for the Colleges’ championship Heron Lacrosse Team. Endowed Summer Science Research Since its beginning in 1987, Hobart and William Smith’s Summer Science Research Program has supported students who work side-by-side with a faculty research mentor. In doing so, students experience the rigors and joys of scientific research, gain laboratory experience that will be vital to their future careers,and benefit from the guidance of experienced faculty mentors. The Dr. Arnold Cohen and Dr. Colleen Carey Endowed Research Fund in the Natural Sciences, which was established in 2004, has supported students in all fields of the natural sciences. This year, three students were supported by the fund. Jamie Hutchins ’08 shares his summer research experience.

“My experience at the New York State Agricultural Experiment Station has been invaluable to my studies. Working with Amanda Garris and Kas Deys of the Grape Genomics Research Unit has significantly improved my understanding of molecular genetics, and has given me the opportunity to take part in current scientific research. I will be applying to medical school in 2008, and working on this project thanks to the Dr. Arnold Cohen and Dr. Colleen Carey Endowed Research Fund in the Natural Sciences has given me knowledge and experience, both in the lab and out, that I will use for years to come.” — Jamie Hutchins ’08 is a biology major. After completing his summer research at the Experiment Station, Jamie continued his preparation for medical school by traveling to Ecuador where he worked as a volunteer lab technician for three weeks. He taught parasitology to the head nurse, worked with doctors from Switzerland and Germany to perform lab tests, and developed a stool and blood parasitology detection program for the clinic.

Progress at a Glance

Campaign for the Colleges continues to make headlines after its public launch in September 2006 with a record gift year, the groundbreaking for Scandling Campus Center in April 2007, and dedication of Caird Hall in June 2007.