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The Clark Endowment on May 31, 2005 was valued at $204.2 million, as compared to last year’s level of $186.3 million. The great majority of these funds have been provided to the University over its 118-year history by generous alumni and other supporters who have chosen to benefit Clark and its students in perpetuity. These donors have asked that their original gifts be invested, and that the annual income thereon be used to support the intended programs, primarily scholarships, fellowships and faculty chairs. The University’s total invested funds have grown in recent years, due both to investment performance and charitable contributions from generous Clark alumni and friends.
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Stevenish Gift to Venture Fund Supports New Initiatives in GSOM
Clark received a gift of $50,000 this year (the first of a three-year commitment) from Clark Trustee Robert J. Stevenish, who is president and coo at Modell’s Sporting Goods. Stevenish is also a Clark parent, father of Robert Stevenish II ’86, and has been a longtime supporter of Clark through gifts to the Graduate School of Management (gsom). The Career Management Center at Clark, for example, carries the Stevenish name in appreciation of the family’s generosity. He has also supported Clark by sharing his expertise with students via gsom’s Leadership Speaker Series and by offering Modell’s as an active-learning assignment in which students developed a marketing campaign for the company.
"The gift is an exciting vote of confidence in the gsom faculty and administrators," says Clark Provost David Angel. The donation will be directed to the Venture Fund that was established in order to offer Provost Angel the means and flexibility to act quickly on new initiatives, and is earmarked specifically to help fund new program initiatives in gsom.
"Bob Stevenish is a great friend of the University and gsom," says Edward Ottensmeyer, dean of gsom. The first new program supported by this fund is a campuswide entrepreneurship initiative, which will be launched in 2005-06.
"With Bob’s support, we’ll be able to offer a unique learning experience for Clark studen ts—not just business majors—to provide the skills needed for them to channel their passions and creative ideas into new ventures, whether they be commercial or artistic or public sector or scientific," explains Ottensmeyer.
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President's Report 2005
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