Endowed funds provide a lasting source of support for the University. A team of investment professionals carefully manages the funds to preserve and enhance the assets. Income from the assets is used to meet the needs of the University and for special purposes designated by donors.
Endowments produce a steady stream of funding for professorships to recruit and retain distinguished faculty; scholarships and fellowships to support deserving students; lectureships to bring distinguished speakers to Grounds; library acquisitions; and academic prizes to recognize outstanding students and faculty. The University’s unrestricted endowment generates vital funding for operations and enables the University to respond to important needs as they arise.
Types of Endowed Funds
Endowed funds must be funded at certain levels and may be designated for any school, department, or program at the University. They also may be named by the donor. There are several types of endowed funds.
University Endowments: Minimum Levels of Funding
O’Connell Global Immersion M.S. in Commerce Endowment
Melissa Tacey (College ’09, McIntire ’10)
Melissa Tacey was on her own financially for graduate school. To pay her bills, she spent many hours outside of class teaching fitness classes at U.Va.’s Aquatic and Fitness Center and babysitting.
She was happy to learn she was one of eight M.S. in Commerce students selected to receive O’Connell Global Immersion Awards. The grants, offered for the first time this year, help students cover travel expenses for their global immersion experience.
The O’Connell Global Immersion M.S. in Commerce Endowment, established by John T. O’Connell (McIntire ’79) and his wife, Anita D. O’Connell, in April 2009, funds annual student awards of at least $500 and enhancements related to the program’s global immersion component. more >