Extra funding for professorships, scholarships

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Students and faculty will benefit from an additional $3.3 million that the University of Georgia Foundation earned in investment returns during fiscal year 2013. The foundation board voted unanimously to approve funding for specific areas identified by President Jere Morehead. Highlights of the funding include:

• $500,000 for need-based student scholarships;

• $200,000 for professional school scholarships;

• $125,000 for endowed professorships (to match a donor commitment);

• $500,000 for the UGA Washington Semester Program; and

• $500,000 for study abroad scholarships.

The board also earmarked $1 million for the purchase of a permanent facility to house the UGA Washington Semester Program, founded in 2008 to provide students opportunities for internships in the national capital while taking classes.

The $3.3 million is in addition to more than $40 million in annual support provided by the foundation to the university and $500,000 provided earlier this fiscal year for endowed professorships.

Morehead also requested that the $220,000 budgeted for the 2014 Celebration of Support, which recognizes UGA’s top donors, be redirected to the Georgia Access Scholarship, which provides funding for the neediest students at UGA. He plans to form a group to review the Celebration of Support and make recommendations for future events.

Get more http://news.uga.edu/releases/article/uga-foundation-allocates-3-3-million-dollars-to-enhance-academics/.