Page 128 - Scrimshaw1980-81

page 8 Scrimshaw . April 30, 1981 College callers rlng up pledges Chris Soto college center, dormitory rnamte- umnr, parents, and friends to seek cover only about 81% of the operat- the Annual Fund," said Keller trey may not nave won a guest narce. academic budgets and utili- financial support from each group ing costs of the college. "For the According to Burchett, the Parent spot on "Dialing For Dollars," but ties, and other college expenses during the fiscal year. Gifts to the remaining 19 percent, the college Phonathon went well this year. Par- western Maryland College students, The Annual Fund program is de- Annual Fund are used in the operat- relies upon grants from corporate ents were given several chances to faculty and staff have made Ihis lined as a program directed to al- ing budget Tuition, room and board foundations, endowment income, and contribute to the college. Burchett year's Parent Phonathon program a attributed the fact that more dollars ringing success were raised and more parents gave The Spring Parent Phonathon, held this year than last year, to this February 24, 25 and Maron 2, 3, u. increase of opportunities given to the 16 and 17 raised $6,814 in definite parents to contribute. Last year at this pledges toward the Parent Fund's date, 338 parents had given: this goal of $30,000, According to louise year 647 have given. Burchett, Director of Annual Funds, The largest portion of the Annual the goal has almost been reached, Fund is the Alumni Fund which is with $29,089,78 in the fund as of April made up of annual, repeatable gifts 24, and an additional $5.450 still from alumni to support WMC's aca- outstanding in pledges demic programs. The $240,000 goal Thirty-two students, along with Bur- of Ihe Alumni Fund is a major part of chett and Dudley Keller, Assistant the $440,000 goal of the Annual Director of Development, called par- Fund. As 01 April 24, said Burchett ents of present and lormer WMC $189,314.88 from 2400 donors bas students to request that a gift be been raised toward the Alumni Fund's made to the college for a suggested goal. The Alumni Phonalhon, which amount of money, according to Bur- started April 20 and runs until May 6, chert. A parent making a pledge is is pushing that amount closer to the merely expressing an intention to goal. Students, faculty, and staff donate, and has until June 30, the follow procedures similar to those end of the fiscal year, to send in the used in the Parents Phonathon, but pledge, stated Burchett now alumni are the fund raising The Parent's Fund is a part of the target. Students interested in Signing Annual Fund and the money raised is up lor the Alumni Phonathoa can still used to support scholarships, finan- do so by contacting Dudley Keller at cial aid, faculty salaries, counseling extension 256. services, the infirmary, the library, the WMC financially resourceful Jeff Trice $50 million dollars worth of invest- that is invested in any company is secure investments. The $6 million Standard Oil. Locally, the college How much is Western Maryland ments that it had in segregationist closely monitored. dollars is broken down into these holds stock in Carroll County Bank College worth? Probably more than South Africa. This money was in- The money of the college is divided percentages: 8% in money market and Trust. you think judging by the magnitude at vested in Citibank, who loans money up into two large groups: endowment stocks, 12% in US_ government se- In Corporation Bonds, WMC bas- its endowment and current operating to the South African government and current operating expenses. The curities, 11 % in Corporation Bonds, holdings in such corporations as expenses And are these funds in Other colleges who have peacefully current operating expense money 40% in common stocks and 29% in American Express, AT&T, BG&E, The secure investments and holdings? II adopted these protest policies are covers normal everyday operating real estate Chase Manhattan Bank, IBM, U.S these funds are in secure invest, Mount Holyoke, Williams College and expenses. just as the name suggests The real estate includes the pbysi- Steel and Commonwealth Edison. mente. are the companies controver- Bates College. Swarthmore College is This money is generated through the cal plant (the campus and the golf Also on the list again are a few oil sial in any way? also preparing to remove its portfolio collection of tuition, fee and other course) and includes the Pennsyl- companies: Gulf, Shell Oil and Sun These are some of the questions stock that it has in a South African gifts. When this money is received, it vania Avenue houses the college Oil students at WMC might have regard- Mining Company. The purpose of all is put into snort-term government owns. The college plans 10 acquire Stocks aren't the only way the ing their college. Anyone attending of these withdrawals is to pressure investments known as U.S. Treasury. the remaining Pennsylvania Avenue colleges make money. Western Mary- any school is justly concerned in Amarican banks into refusing loans to oms. These short-term investments houses that lie between Union St. and land also holds eight trust linds that knowing wnere their money goes, as South Africa. Various banking and are about the safest way known to the Golf Clubhouse as they go up for have been given to the college by none of us wants our school to other corporate institutions continue invest money and receive a reascoa- sale. The college presently owns alumni and friends. Here is the way disappear one day. Also, some stu- to loan money 10 seem Africa, a ble amount of interest on the original about half of the houses on Pennsyl- trust funds work: a gift is made to the dents might be concerned if their country that has adopted many seg- investment. And indeed. funds don't vania Avenue college of the person's entire estate school had any interests in any regationist policies need to spend a long time tied up Also from this endowment lund, the and the college assumes control of controversial countries or companies This is just what other colleges are gathering interest because this is the college holds two mortgages that the person-'sentire estate. For the rest with questionable motives in foreign doing wrtn their money. Western money that the college works with were from the building of Decker of the donor's life, an allowance is countries. Maryland appears to have their The people that decide on these College Center and the Garden given 10 him weekly or monthly, while Recently Harvard withdrew about money invested wisely, as any money investments, both short-term and Apartments. The terms in borrowing the college manages the rest of the long-term, are the Finance Committee against your own endowment are estate. The attractiveness of this type Carriage House and the Board of Directors. They are decidedly cheaper than borrowing 01 package is that it means a good tax break for the donor and usually a personally responsible lor the money money on tne open market at current 113 W_ Main Street received and see that the money is interest rates large amount of money for Western "at the forks" invested safely, securely and at some In the area of common stocks, Maryland gain over the initial investment. Some WMC does not have any controversial Last year the six million dollar quick multiplication can give the or risky investments like Harvard and endowment earned about 500,000 Papst 12 pack $4.28 amount of money the directors have Swarthmore (as mentioned earlier.) dollars in interest and dividends. And list of Western over, if one thinks of how the down this is important, as this amount is Going contro many students attend WMC and how Maryland's common stock is liKe plowed back into the current ooerat- much each of them pay. It is indeed going down a list of the Unites States' ing expenses, which means students a large amount most successful companies: K-Mart, pay substantially toss than they In the other category, endowment, Kodak, Ej.Dupont, General Electric, would have to without the endow- mere is a large chunk of money that Sears & Roebuck, and United States ment, according to Business Man- is there for the sole purpose of Fidelity and Guarantee. Also on the ager Jack Morris. So, the next time investment. This endowment fund is list are R.J_Reynolds Tobacco Manu- you wonder why tuition is so high, roughly worth $6 million dollars. tacturers. as well as numerous oil just imagine it without kind alumni and r"T"_,.::,,:-';:;;""_d;.',;;'oo;:..;';.;;,e,.;k;;:e,:::.',.;;'";..,;;;;";.;;":..,',_.;,;:;:om~p;;'~nie;:.'.,:lik:::.e.:;E>:,:'O~";':'P:::";:.illiPi::'.,::6::,.6':::::O"d,.._trje;."::;d':.;W:::;""='o::;",::;ri9_;.;;"':;;.e::;'";.;;d::;ow::;m;;:,",;:;"~. Sportswear & Athletic Shoes xer.ox Copies 1Oil FLEET FEET~:-t New Day FAIRGROUND VILLAGE CENTER Copy Center 330 ONE FORTY VILLAGE ROAD WESTMINSTER, MARYLAND 21157 60Y2 W, Main si, \ All Brands of Athletic Shoes S,l:l~lt~~'t::r'~l' Westminster .n'....... ___ 1'1'. warm-up Suits & Sportswear 876-7732 10% Discount with 10 Silk Screen Printin