IU gets boost with endowments

Last week, IU President Myles Brand announced that after a seven-year campaign, the University raised $504 million, putting IU first among Big Ten public universities in endowed faculty positions.\nThe largest campaign in University history, it increased endowed faculty positions -- where campaign donations are used to pay faculty salaries -- by 178 percent. It also left the University with 333 endowed chairs, professorships and curatorships, more than other Big Ten public institutions. \nThe University should be praised for working so hard for this community of students, staff and administrators.\nBy showing its strong commitment to the faculty, the University will be able to attract and retain outstanding faculty. \nFaculty were one of the biggest generators of support for the endowment donations. Faculty and staff contributions accounted for more than $27 million, the highest "insider" total contribution to a campaign at any public university, according to a University press release. This is a sign that the faculty and staff at the University are committed to working here and creating a better environment for faculty and staff members. \nBut the endowment campaign does not only benefit faculty. It also allows the University to provide scholarships to undergraduate and graduate students. Through this active campaign, in which student endowments nearly doubled and contributions from students increased 74 percent, more students will be able to attend the University and receive financial help. \nAlso important is that IU ranks near the bottom in state funding, money allocated by the state per student. Because of state government shortages, IU has had to fight for every penny it gets from the state. \nPsychology professor James Sherman, president of the Bloomington Faculty Council, said Indiana used to supply 40 to 50 percent of IU's budget. It now supplies only about 20 percent. With the active campaign, contributions to the University will make up for this shortfall. \nThe University should be commended for working hard to garner donations and contributions.\nStaff vote: 13 - 0 - 0 (yes - no - abstain)