SSU Foundation Gives University $738,000SALISBURY, MD--Thanks to the Salisbury State University Foundation, SSU students will be on the receiving end of over $500,000 in academic scholarships this fall. In addition, private support generated by the Foundation will mean some $200,000 toward technology enhancement, internships and research opportunities for both faculty and students, and a host of cultural opportunities for the entire region.
SSU's Foundations Executive Committee and its new chair, Deborah Abbott, recently announced the $738,000 distribution of funds from the Foundation to the University.
With endowment funds of over $12 million, the Foundation earned more than 20 percent on its investments in fiscal year 1997-1998. The portion designated for immediate spending by the University reached an all-time high of $638,000 designated for fiscal year 1998-1999.
Student scholarships will account for $425,000. The balance, $213,000, will go toward student and faculty research, computer equipment and software, and enhancement programs such as the Great Leader Lecture Series, the Nabb Research Center for Delmarva History and Culture, and the Perdue School of Business Applied Business Learning Experience.
Additionally, $100,000 in gifts from alumni and Presidents Club members will provide support for student scholarships, cultural enterprises like the Salisbury Symphony Orchestra at SSU, and computer purchases by academic personnel.
On behalf of the students, faculty and my colleagues, said SSU President William C. Merwin, I am deeply grateful to the members of the SSU Foundation board, volunteers all, who have helped arrange for this additional three quarters of a million dollars of operating support for SSU.
State funds for higher education and SSU Foundation dollars are never co-mingled. The Foundation provides operating accounts from which University personnel may access funds for their specific programs. All fund expenditures each year are carefully reviewed by the vice president of finance and the vice president of university advancement.
This is what the Foundation is here to do, said Abbott, We are here to help the University to thrive, improve its programs and make it a nationally recognized comprehensive University. As partners with the University, we hope next year to disperse even more funds in support of public higher education in our region.
The SSU Foundations offices are located in the Alumni House at Salisbury State University, 1120 Camden Avenue. Persons interested in making donations may do so by calling 410-543-6175.