Consistent with the theme adopted for the 2008 Reunion, a $100 million endowment fund will be launched to fund projects and programs that will accelerate the development of the university, especially in critical areas used in assessment by the ranking establishments. The fund will be raised over a five-year period and the deliberations at the event will cover the four key aspects related to the endowment: Management, Projects and Programs, Fundraising, and Costs associated with Fundraising and Management.
A governing Board will need to be established for managing the endowment. The Board in turn will contract the services of a fund management company to invest the funds in financial instruments capable of generating very good returns at acceptable risk levels. Also, the Board will engage the services of companies or individuals with proven management skills to perform an initial assessment and recommend a set of projects and programs relevant to established objectives. The accepted projects and programs will subsequently be executed in accordance with their prioritization.
Projects and Programs
This will be governed by the expected initial assessment as well as the available funds. Some of these will be new projects and some could be supplemental to those already established and funded through other sources. It is expected that some that will be covered would include upgrading the campus computer network and systems, commercialization of research work, increasing and updating the volume of the libraries, integrated accounting and management systems, training and retraining of staff, and structured facilities maintenance plan.
A very reasonable and exhaustive plan will be presented for accomplishing the goal of generating the target of $100 million over the next five years. This plan will incorporate both the traditional methods of fundraising as well as some new innovative methods. This is designed to be a worldwide effort and will incorporate the efforts of all living alumni, friends of the university, and those supportive of education and development.
Costs Associated with Fundraising and Management
Eventually, the established Board will manage this function but means of minimizing this could be explored during the Reunion.
The goals are audacious but laudable because their attainment will help lay a good foundation for cultivating world leaders for future generations. It is pertinent to note that it is what we have done for others and the world that remains and is immortal. This is the more reason why we need the involvement of everyone. So please make the 2008 Reunion a priority destination!
Please make your checks payable to:
Great Ife Alumni Association
And send to:
Great Ife Alumni Association
P.O. Box 6931,
Houston TX. 77265-6931
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