The 2007 Class Gift Explained
By Shakti C’Ganti, Outgoing SGA President

I have been asked a lot of good questions about the financial structuring of our class gift, the Class of 2007 Scholarship Fund, so I thought I would take a minute to explain it.

Our committee’s goal was to raise $15,000 in student contributions with 70% of the class contributing to the gift by May 17th. Thanks to several generous donations during the auction at Mr. SAIS we were able to revise our contribution estimates from $48.70 per person to $35.70 per person. And in order to ensure that we reach our participation goal of 70% we lowered our minimum suggested donation from $50 to $20.

To sweeten the deal, the SGA will contribute $100  to the fund for each percentage point above 50% participation. So that means if 70% of the graduating class donates to the fund the SGA will contribute $2000.

SAIS has also agreed to match all student contributions dollar-for-dollar up to $10,000. As of April 12th we had reached a 20% participation rate and about $6500 in donations.

Starting in the fall of 2007 the Class of 2007 Scholarship Fund will pay out $1500 annually, which will be matched by a $3500 contribution by SAIS, in order to award a scholarship of $5000 every year to an incoming SAIS student.

Our overall goal is to raise $100,000, which we plan to do by 2017. Once we raise that amount, the Class of 2007 Scholarship Fund will reach “endowment” status and an annual scholarship will be payable on the interest accrued during the year.

While we are waiting to achieve “endowment” status, any interest generated will be plowed back into the Class of 2007 Scholarship Fund.

So, now that you understand the financial structure of the class gift, don’t you think it’s time you went and made your donation?