The Department is very grateful to its Alumni and Friends for their support of the Department's Mission to provide the finest education in Chemical and Biomolecular Engineering.
The new $7.4 million Donna and Paul Flower Hall for Research and Innovation will be a catalyst for Tulane’s emergence as a science and engineering powerhouse, attracting scholars, expanding research and satisfying the region’s demand for innovative problem-solvers, says Nick Altiero, dean of the School of Science and Engineering. Read the New Wave Article »View Live Progress
The Chemical and Biomolecular Engineering Department has set up an Endowment Fund. The income from the endowment will be used to maintain and enhance departmental infrastructure, especially to provide our undergraduates with excellent laboratory and computer facilities. Our immediate need is the renovation of the Francis Taylor Undergraduate Laboratory. The Taylor Lab has a rich history at Tulane, having been used for many decades to provide hands-on training in Unit Operations to our students. The Laboratory very badly needs to be renovated, and is the prime objective of the Dean's building infrastructure fundraising efforts. Our alumni's help in this direction will be received with gratitude.
Thanks to scholarships established by generous alumni and friends, talented students can continue to achieve the benefits of a Tulane education in spite of financial need. Endowed scholarship funds are especially important in maintaining a foundation of aid that will be available to students in the future.
Endowed scholarship funds exist in perpetuity. A gift (or series of gifts) to establish a fund is invested as part of the University's pooled endowment, and only the earned income is expended for student aid. Each endowed scholarship benefits proportionately from the endowment's earnings, which have averaged about 10.3% (total return) over the last ten years. Under University policy, spendable income from endowed funds is based on 6% of a 12 quarter moving average of endowment market values. Any return in excess of spendable income is allocated to the fund's principal for future growth and protection against inflation.
Currently, an endowed fund may be established with a minimum of $10,000. This can be accomplished by a gift of cash or securities. Planned gifts can be arranged that provide donor and spouse with immediate tax benefits and a life income, after which the principal is used to establish the endowed fund. Endowed scholarships may also be established with a bequest from a donor's estate or proceeds from an IRA, retirement plan or insurance policy.
Many benefactors of Tulane request that a certain name be given to an endowed scholarship fund, to memorialize a loved one, honor a friend or relative, recognize a business, or show the importance they attach to philanthropy by including their own names. Donors should advise the University of the specific name desired.
Unless a donor specifies otherwise, it is assumed that a scholarship will be awarded on the basis of financial need as well as merit. Tulane generally uses federal guidelines to establish financial need for the purpose of awarding scholarships. Also, unless otherwise directed, scholarships are assumed to be for undergraduate financial aid.
An endowed faculty chair supports one designated faculty position by providing a permanent source of income that is used to execute the function of that position. The goal is to recruit, hire and maintain someone of national stature. Income from the chair underwrites a faculty member's salary, a portion of any support staff associated with that faculty member's position and any expenses associated with that position.
The impact of an endowed chair is tremendous. An endowed chair encourages excellence in instruction. It removes the burden for funding that faculty position from student paid tuition. Endowed chairs are highly prestigious, sought after positions. Endowed chairs are often named in honor or in memory of a certain individual.
To encourage gifts of endowed chairs the Louisiana Board of Regents (BOR) provides matching funds for endowed chairs. While funding matches are not guaranteed a gift of $1,200,000 allows the university to request an additional $800,000 BOR match.
An Endowed Professorship provides partial support for one designated faculty position. Like the endowed chair, the endowment exists in perpetuity, creating a continuous source of income for that position. An endowed professorship fund of $60,000 allows the university to request an additional $40,000 BOR match.
In addition to gifts of cash, endowments and other gifts can be funded with stock and other appreciated assets or through an estate plan (Will, Trust, Bequest or Beneficiary statement). Donors who establish named funds will receive annual reports about the financial status of the fund as well as the name(s) of the recipient(s) and may designate other relatives or friends to receive an annual report.
|Top ⇑Giving Definitions|
|Bequest||Giving through your will|
|Charitable Gift Annuity||Simple plan providing fixed income for life|
|Charitable Lead Trust||Giving income to Tulane today; transferring assets to family tomorrow|
|Charitable Remainder Annuity Trust||Fixed income for life or term|
|Charitable Remainder Unitrust||Variable income with potential for growth for life or term|
|Gift of Securities||Current gift at full market value|
|Insurance||Insuring Tulane's future|
|Pooled Income Fund||Simplest plan providing variable life income with potential for growth|
|Real Estate||Current and deferred gifts of real property|
|Gifts of Tangible Personal Property||Current gifts of tangible personal property, gifts of art, coins, stamps, etc.|
Please see the Tulane Planned Giving webpage for explanations of these forms of planned giving.
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