Like the early benefactors, generous individuals, corporations, and foundations wishing to support the work of The University of Akron provide for both the short- and long-term needs of the institution when they make an endowed gift today.
Typically, an endowed gift is used to support a donor's specific area of interest; for instance, a scholarship, a prominent teaching position, a continuing program, or upkeep on a named capital project. The gift itself lasts in perpetuity, because it is invested and only a portion of its earnings is used each year. Its principal, or corpus, continues to grow.
At The University of Akron, endowed gifts are invested collectively and are managed by both the University and its Foundation. The University's collective endowment reached $170 million in 2002 and provides a permanent and stable base of support to supplement tuition and state funding. The endowment has allowed the University to achieve a level of excellence -- including national ranking in polymer science -- that would otherwise be unattainable.