May 4, 1998
VOL. 27, NO. 33
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JH Initiative Targets New Goal Of $1.2 Billion
Student financial aid will be highest priority of
remaining two years
Dennis O'Shea Homewood News and Information
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The Johns Hopkins Initiative has
surpassed its $900 million initial goal nearly two years ahead of
schedule, enabling Hopkins trustees to vote to establish new
priorities for the remainder of the campaign and set a new target
of $1.2 billion.
The university's trustees, meeting Sunday in New York,
decided to make student financial aid a primary focus of the
remainder of the campaign.
Between now and the campaign's conclusion in 2000, Hopkins
will also seek major support for the Milton S. Eisenhower
Library, the university's main research library. The campaign
will continue to seek support for several not-yet-completed
building projects. Expanded priorities, especially for endowment
and facilities, have also been set by each of the university's
schools and by Johns Hopkins Medicine.
"Since this campaign began nearly four years ago, Johns
Hopkins has a new president and new senior leadership, both at
the university and at Johns Hopkins Medicine," said Michael R.
Bloomberg (pictured at left), chairman of the university's board
of trustees.
"And while Hopkins has been changing, the world has changed
too, dramatically," Bloomberg said. "It's not surprising that
we've identified pressing needs that were not sufficiently
addressed in the first phase of the Initiative.
"There is a lot left to be done," he said. "But the success
we've had so far and the enthusiasm of all our supporters for
going ahead and finishing the job makes me very confident that we
can do it."
Johns Hopkins University president William R. Brody (pictured at right), who
recommended the strong new emphasis on scholarships and
fellowships, said he has believed since he took office in 1996
that student aid is increasingly critical and that Hopkins'
endowment for scholarship support is grossly inadequate. For
instance, he said, the endowment for aid to undergraduates on the
university's Homewood campus is $29 million. The average aid
endowment for a group of similarly selective colleges and
universities is $163 million.
"The need for scholarship support--throughout the
university--has grown far greater than our resources can
sustain," Brody said. "Only with new endowment can we ensure that
no student, graduate or undergraduate, need turn down an
invitation to Johns Hopkins for lack of funds."
Bloomberg and Brody also announced to trustees a major new
commitment that will launch the Initiative toward its new goal:
$10 million from A. James Clark, a trustee and chairman of Clark
Enterprises Inc. of Bethesda, Md.
Clark's gift will fund a building on the Homewood campus to
house a Biomedical Engineering Institute.
"Jim Clark's exceptional generosity enables Hopkins to
expand the research, clinical and teaching work of a biomedical
engineering program that is already widely considered one of the
nation's best," Brody said. "New areas of research in the field
are going to revolutionize diagnosis and treatment of a wide
range of diseases. Jim has ensured that Hopkins biomedical
engineers will help lead that revolution."
Brody reported to trustees that gifts and pledges to the
Johns Hopkins Initiative now total $905.8 million. Clark's
commitment will lift that total to $915.8 million.
The Johns Hopkins Initiative, publicly launched in 1994
after several years of behind-the-scenes preparation, is a joint
campaign of The Johns Hopkins University and the Johns Hopkins
Health System. Its original overall goal of $900 million by 2000
included $525 million for the campaign's primary focus, endowment
and facilities. With the Clark commitment, the total for those
priorities now stands at $535.7 million.
"We are immensely grateful to everyone whose generosity and
dedication to Hopkins brought us to this point so much sooner
than we ever thought possible," said Lenox D. Baker Jr. (pictured
at right), a trustee and co-chair of the Johns Hopkins
Initiative. "Because of our alumni and friends, Johns Hopkins
today is stronger than ever, even better positioned to make
critical discoveries, to teach and to care for patients," said R.
Champlin Sheridan (pictured below at left), also a trustee and
Initiative co-chair.
The Initiative has so far attracted eight of the 10 largest
gifts ever made to Hopkins, including the largest, a $55 million
initial commitment from Bloomberg. The campaign has raised more
than $135 million for facilities and more than $69 million for
student aid, created 72 named professorships and supported new
research in all Hopkins divisions, on issues from breast cancer
to biomedical ethics, from welfare reform to the politics of
central Asia. The campaign has also helped Johns Hopkins use
information technology to improve teaching on its traditional
campuses and to expand its reach to "virtual" educational and
patient care facilities in places as distant as Asia and
Africa.
Priorities Set For Remainder Of
Campaign
Support for student financial aid in all eight Johns Hopkins
schools is the No. 1 priority for the Johns Hopkins Initiative
between now and the campaign's conclusion in 2000.
The campaign has already raised more than $69 million for
student aid and led to the creation of more than 100 named
scholarships. But despite the efforts of Hopkins and other
universities and colleges to rein in tuition growth, financial
aid remains a critical need.
At their meeting Sunday in New York, the university's
trustees accepted President William R. Brody's recommendation
that student aid--both undergraduate scholarships and graduate
and postdoctoral fellowships--be the foremost priority for the
remainder of the campaign.
"Our tradition of academic excellence has always been
coupled with a commitment to make a Hopkins education affordable
for all qualified students," Brody said. "We must increase our
endowment for student financial aid so that no student--graduate
or undergraduate--will turn down an invitation for lack of funds,
and to ensure that our graduates are not burdened by unreasonable
debt. This is our single most important need."
There also will be a strong campaign emphasis, Brody said,
on soliciting support for the Milton S. Eisenhower Library, the
university's main research library.
"The Eisenhower Library has long been a crucial resource for
Hopkins, and its role is about to become even more important as
fundamental changes in higher education, information technology
and scholarly communication begin to play themselves out," Brody
said. "The digital, networked library of the 21st century will be
a far different place than the traditional, industrial age
library of the 20th. We need to begin building that library
now."
In addition to student aid and library support, the campaign
will also pursue funding for specific priorities set by each of
the university's schools and by Johns Hopkins Medicine, with
emphasis on strengthening endowment and improving facilities. The
campaign also will continue to seek support for several
not-yet-completed building projects.
The ability of students and families to afford both an
undergraduate education and graduate school without assuming
unduly burdensome debt has been a major concern for Brody since
he became president in 1996.
Hopkins tuition--$21,700 this year for undergraduates in the
schools of Arts and Sciences and Engineering--is about in the
middle of the range of comparable private colleges and
universities. But, primarily because of a paucity of endowment
designated for student aid, the amount of scholarship support the
university can offer lower- and middle-income students has been
less than at many peer institutions.
Hopkins, like all highly selective institutions, is
committed to admitting a diverse student body and, to the extent
possible, ensuring that qualified students are not kept from the
school of their choice by their families' financial
circumstances. But, while other universities can use endowment
income to fund much of their student aid budgets, Hopkins must
divert more tuition dollars for that purpose.
This year, about 60 percent of Homewood campus
undergraduates receive need-based financial aid, and the number
seeking aid has increased significantly in the 1990s.
Some peer institutions--including Yale, Stanford and
Princeton--recently announced that they will draw on their
endowments to significantly increase student aid for
middle-income families.
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