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Hofstra University is a dynamic private college on Long Island, NY, where students can choose from more than 140 undergraduate and 150 graduate programs in liberal arts and sciences, business, communication, education, health and human services, and honors studies, as well as a School of Law and School of Medicine. | more |
The Campaign for Hofstra University is committed to providing learning opportunities for all of our students.
Accordingly, we are focusing on immediate development in five areas – Endowment, Capital Projects and Renovations, Technology Upgrades, Academic Programs, and the Annual Fund. An investment in these five areas will ensure Hofstra's continuing strength as it moves toward a new level of academic excellence.
A healthy endowment enables a university to be less reliant on enrollment and tuition and better able to withstand economic changes. Hofstra must continue to build its endowment so that we can become an ever-stronger institution. An enhanced endowment will allow us to provide financial aid and scholarships for deserving students and maintain and create academic programs that will prepare our graduates for leadership positions. We must also promote faculty development to help realize the full potential of our academic programs.
Hofstra's endowment grew from $47.7 million in 1994 to approximately $185 million in 2005. This growth is certainly commendable, but demand for financial scholarships and the need for new faculty and programs continue. In 2003, Hofstra provided students with almost $30 million in scholarships and financial aid, but more is needed as tuition costs soar in both private and public institutions across the nation. Deserving students cannot be left behind because of economic constraints.
As of now, Hofstra's endowment is approximately $185 million – relatively modest when compared with such institutions as Boston University and George Washington University, which have endowments surpassing $600 million.
It is critical that we augment our endowment so that our financial resources will enable us to continue to invest in academia alongside our rising reputation.
The Campaign for Hofstra University plans to raise $57.5 million in available funding for the endowment to fund student scholarships, enhanced financial aid, and faculty development, chairs, and professorships. Providing this additional funding will enable us to attract top students while relieving pressure on the University's operating budget. This is a sizable goal indeed, but we are convinced that it can be achieved if everyone in our community works together.
The Campaign for Hofstra University addresses needs in four other areas: Capital Projects and Renovations, Technology Upgrades, Academic Programs, and the Annual Fund.
From its modest beginnings, Hofstra has evolved into a remarkably beautiful campus of stately buildings and mature plantings. We intend to maintain our outstanding assets while at the same time developing new facilities to serve our innovative academic programs. To address these priorities, The Campaign for Hofstra University is allocating $27.5 million for the following capital projects and enhancements:
New facility for Honors College – $10 million.
The Honors College is one of the most important additions to the University landscape. It attracts high-achieving students with strong academic credentials. Currently, the Honors College is housed in the lower level of the library – a limited space that does not offer a common area in which students can gather. The proposed new facility would provide a quality space commensurate with the quality of our students, thus insuring the future success of this new signature program.
Classroom space enhancements and renovation of existing classroom buildings – $12.5 million
Hofstra experienced extraordinary growth in the 1960s. Many of the existing buildings on campus that date back to this period have withstood the test of time and continue to operate adequately. Still, they are over 40 years old and are in need of refurbishment and modernization. Throughout the University, classrooms, labs, and residence halls await renovation, with the necessary technological upgrading.
Facility for Fine Arts Museum – $5 million
Long Island has always looked to Hofstra for cultural enrichment. The University's fine arts collection is noteworthy, and warrants a striking and ample space.
The proposed building to house this collection would include a 22,400-square-foot interior, with a new gallery to display recent acquisitions, a library and study area, a viewing room for classes, and a public exhibition space for permanent collections.
Even though Hofstra has been cited as one of the nation's most connected campuses, it must keep pace. New technology needs to be assessed and further integrated into the curriculum. Funds received through The Campaign for Hofstra University will allow us to incorporate the most advanced new technologies into our curriculum. Such technologies encourage the kind of student satisfaction and retention we seek.
Hofstra is known for academic programs that keep students, faculty, and the community interested, engaged, and one step ahead. Funds will enhance the Center for Suburban Studies, as well as help us establish other academic centers – in Women's Studies, African Studies, National Security Studies, Latin American and Caribbean Studies, Global Studies, and more – that will stimulate interest and foster knowledge. We will also introduce new graduate programs, such as an M.S. in Physician Assistant Studies, Au.D. in Audiology, M.B.A. in Health Administration and Policy, M.B.A. in Sports and Entertainment, M.A. in Journalism, and Ph.D. in Curriculum and Teaching. These programs will open up avenues of opportunity for our students, and, over time, enrich the region with a new generation of highly trained professionals.
The Annual Fund is a critical source of revenue that augments every aspect of the Hofstra educational experience, from faculty salaries to financial aid to investments in technology to additional funding toward academic programs and the library. The Annual Fund is also a vehicle by which our graduates and friends can enjoy the rewarding experience of giving back to a school that has given so much to them.
Projections show that The Campaign for Hofstra University will increase Annual Fund giving to $1.5 million by 2008. To put this dollar figure into perspective, it would require more than an additional $30 million in endowment to generate the same amount of yearly revenue. A fortified tradition of annual giving would complement the endowment in two key ways: It would provide a strong and steady stream of support for an expanded range of activities, and it would offer the University more flexibility to meet its needs.