big year for the University Bookstore will translate into
scholarships for U.Va. students. Here, James Carter, a temporary
bookstore employee, helps stock textbooks for the spring semester.
surpasses $1 million
unrestricted Endowment for Excellence has grown to more than $1
million with a recent donation of $250,000 earned from operating
endowment, established five years ago, is used for a variety of
purposes at the University, including need-based scholarships.
non-profit bookstore opened in its new location above the Emmet
Street parking garage in the fall of 1994. By spring 1996, it
had earned enough surplus to start the endowment with a donation
of $50,000, and has continued to earn surpluses each year after
paying operating expenses.
auxiliary service, the bookstore is self-supporting and receives
no tax dollars. The bookstore also operates Cavalier Computers,
TJ's Locker in the Aquatics and Fitness Center, and the Courts
and Commerce Bookstore on North Grounds.
the endowment was established, Leonard W. Sandridge, executive
vice president and chief operating officer, challenged the business
to operate with enough efficiency to earn surpluses to grow the
endowment on a yearly basis. "We've been successful as a
business because of the support of our students, faculty, staff
and alumni," said Jonathan A. Kates, bookstore director.
"We are sharing this success by returning the surplus to
the community we serve.
cannot be said for any private sector bookstore or dot-com retailer,"