With the first Day of Giving on March 27 quickly approaching, three families have worked to establish three “Student Success Endowments” to be used toward NC State’s Division of Academic and Student Affairs (DASA).
Nicole Peterson, executive director of development for DASA, said that Student Success Endowments are an unrestricted source of funding. This means Dr. Mike Mullen, vice chancellor and dean for DASA, is free to distribute these funds generated by the endowment to support the department’s greatest needs, rather than being designated towards a specific program.
“Many of the programs within DASA are supported through student fee funding, and some of the programs have minimal state funding,” Peterson said. “Private support like these endowments and other gifts provide a lot more flexibility for the programs. Donors often give to specific programs like the Scholars Program, or the Arts, so we have really been trying to talk to donors about their willingness to support the division as a whole.”
Although all three sets of donors — Alison and Jack Levinson, David S. Thompson, and JoAnn and Kelly Barnhill — acted independently in creating the endowments, the Levinsons and Barnhills both serve on the DASA Board of Advisors. Peterson said that Thompson and the Barnhills are NC State alumni, and all three sets of donors are NC State parents.
“Each time we have been at these meetings, we are very interested in what we are learning about,” Alison Levinson said. “There were so many things that we wanted to support, so this was the best way to do it. That way we didn’t have to pick and choose where we want to put the money.”
Peterson said that the minimum gift to create an endowment is $50,000 pledged over time (up to five years). With an interest rate of approximately four percent, she said that it usually takes a year of interest growth for the fund to produce a spending budget.
“All three of these donors, or sets of donors, are NC State parents,” Peterson said. “Parents can really appreciate and connect to DASA’s programming and services because it helps their students be successful while they are on campus.”
After first being introduced to DASA over breakfast at the chancellor’s house, the Levinsons said that they immediately wanted to get involved in DASA’s various programs, ranging from Study Abroad to the Student Emergency Fund.
“We wanted to set up the endowment so the vice chancellor and other leaders in DASA have an opportunity to use the income as they see fit,” Jack Levinson said.
Peterson said that she encourages all NC State parents to consider giving at whatever level they feel comfortable.
“Somebody doesn’t have to make a significant donation or establish an endowment to feel good about making a contribution in support of NC State,” Alison Levinson said.
NC State’s Day of Giving is March 27. Students can visit the DASA or the Day of Giving websites to learn more about the programs.
