Questions and Answers about the Centennial Fund
1. What is the Fund?
The UOG Centennial Fund is a long term, timecapsule endowment for the University of Guam.
2. What is the purpose of the endowment?
To provide scholarships and capital improvements at the University of Guam.
3. How is the Fund organized?
It is chartered under the laws of Guam as a private, tax-exempt charitable association.
4. Are contributions to the Fund tax-deductible?
Yes, they're 100% tax-deductible.
5. Why is the Fund set up as a private association?
To discourage political interference and to qualify the proceeds as private funds, should the University seek matching federal funds under a Title III grant.
6. Has the Fund been endorsed by the University of Guam Board of Regents?
Yes.
7. How is the Fund directed?
By a Board of Directors composed of the UOG President, a Regent, a faculty representative, an SBA representative, and on Alumni Association representative. Additionally, anyone who contributes $1000 or more may serve as a Permanent Director if he or she so desires.
8. What is the goal of the current fundroising campaign?
To raise at least $20,000 before March 15.
9. How long will the proceeds of the Fund be invested before there are any pay-outs?
Sixty-five years at which the corpus at 12% per annum will accrue to over 35 million dollars. If the University secures a Title III matching-funds grant, the corpus by law would have to be invested for twenty years.
10. Aren't these awfully long periods to time?
In terms of a human life span, yes, but not when one considers the life span on an institution. Remember there are many universities, like Harvard or UST, that are well over 300 years old.
11. What is the recommended giving level?
Whatever you can give. Some businesses and individuals have contributed over $1000. Most individuals have found $100 to be within their means.
12. Why should I contribute?
Because UOG is the only public University on island, because it has an enormous impact on the lives of our young people, and because it affects the social and economic well-being of this island.
By contributing to the Fund, you help ensure that as the University continues to serve the people of this Territory, it can better meet the challenges that lie in the future.
Please give this appeal your most thoughtful consideration.
Guam can develop a great educational system, but this task presents a great challenge. The UOG Centennial Fund will enable the University of Guam to meet that challenge as the University enters its fourth decade of service to the people of this Territory, and of the Notion.
Thank you for your concern for, and your support of, the University of Guam.
Si Yu'us ma'ase and Solamat po.