Endowment Gifts and their Importance to the College of Engineering
Endowment gifts are the most important long-term investments a donor can make to an institution of higher education. The principal of the gift remains invested while only the endowment’s annual income is used for the donor’s chosen purpose. The long-term stability and growth potential represented by an endowment gift amplifies its impact in perpetuity. Endowments therefore make their impact on many more lives than would otherwise be touched by a donor's generosity.
How endowment support can drive the College forward
Department Head Justin Schwartz has set an ambitious goal: to establish the Department of Materials Science and Engineering at NC State University become the top MSE Department in the nation. All research universities depend on private support to build and sustain a highly productive and renowned faculty, and to extend opportunities to both undergraduate and graduate students. Long term private funding is all the more important today as public institutions must become proportionally less reliant on state appropriated dollars.
Endowments last forever. Their permanence provides us the opportunity to recognize our friends who have made such a profound difference in the Department and in the lives of those it serves. Such recognition reminds students and faculty of the generosity that enabled their many academic and research opportunities, and sets a clear example for other alumni and friends by highlighting the lasting impact their own potential contributions can have on the Department.
College of Engineering Funding Priorities
- Professorships are the most important vehicle for recruiting and retaining talented research faculty, people whose work at NC State solve grand societal challenges and improve the educational experience for all students. Endowments create funds that are used for research activities, including graduate assistants and equipment, course development and salary support. We also utilize the state of North Carolina’s generous matching program, which underscores the importance of research faculty by providing 1/3 of the cost of an endowed professorship:
- A $2,000,000 endowed distinguished professorship can be established with a gift of $1,333,000, which is then matched by $667,000 in state funds
- A $1,500,000 endowed distinguished professorship can be established with a gift of $1,000,000 which is then matched by $500,000 in state funds
- A $1,000,000 endowed distinguished professorship can be established with a gift of $667,000, which is then matched by $333,000 in state funds
Endowed Graduate Fellowships
- Graduate students are agents of innovation in the College. Private support is essential in the intense competition for these students, who often achieve breakthroughs in the laboratory that are invaluable to technology companies that increasingly contract R&D to partner universities. The minimum level to endow a full graduate fellowship is $500,000.
Merit and Need-based scholarships
- Endowed scholarships provide donors with the greatest opportunity to make an impact on the greatest number of lives. These endowments are crucial to our ability to bring in the best students and provide an education that will propel them to become the leaders of tomorrow. Based on NC State’s 4% endowment spending rate, an endowment of $200,000 generates annual income roughly equivalent to a full year of tuition and fees (~$8,000). As the principal grows over time, new opportunities to aid additional students will be created.
Endowed Support Funds and Centennial Campus Naming Opportunities
- Donors can also set up endowments to provide annual income to support various institutional needs and objectives. These unrestricted funds provide much-needed flexibility in meeting priorities over time. The university’s naming policy allows us to name spaces on Centennial Campus in recognition for these vital endowment gifts. As an example, a gift to fund an unrestricted endowment in support of the Mechanical and Aerospace Engineering Department opens opportunities to name spaces in Engineering Building III. The type of space—large lecture hall, classroom, laboratory, student lounge, etc.—is commensurate with the size of the endowment. Naming levels for these spaces can be provided upon request.
Principal Naming Opportunities
– MSE NC State engineers continue to change the world through groundbreaking research that solves society’s greatest challenges and by participating in a hands-on educational experience that prepares future generations of leaders. Facilities that will inspire and enable our faculty and students provide the foundation for our continuing excellence and are a cornerstone of the university’s strategic plan. Naming the MSE Department would transform the efforts of faculty and graduate student recruitment and retention, create cutting edge infrastructure and provide enhanced stature, which will result in notable success rates. A transformative gift of this significance would bolster the department’s visibility, awareness and cachet as a pioneering department in innovation. Naming levels for these spaces can be provided upon request.