Anahi Ceniceros ’23 didn’t think she would be able to afford college. The first-generation student dreamed of becoming a nurse, but she couldn’t afford secondary education. Then she discovered scholarships.
“Money is one of the biggest factors that goes into pursuing secondary education,” she said. “The generosity of donors made it easier for me to achieve my dreams.”
At St. Çï¿ûÊÓƵ, nearly every student benefits from financial aid. Because of the funding Ceniceros received, she was able to complete her Bachelor of Science in Nursing.
Donations to the university’s endowment make this possible.
What is an endowment?
An endowment is a pool of donated funds invested over time to generate a stable income stream. The principal remains untouched while a portion of investment gains are available for use each year.
It provides a safety net for the university if times get tough, by ensuring financial aid for students and supporting essential programs and initiatives.
Currently, St. Ambrose’s endowment fund totals $247.5 million. This figure, a significant amount for an institution of SAU's size, is the result of careful management and foresight from previous St. Ambrose leadership.
“Ed Henkhaus ‘64 and Ed Rogalski (Hon. ’08) recognized the need to grow the endowment,” said Mike Poster ’88, vice president for finance. “This included raising needed funds from donors, investing budget surpluses when possible, and keeping the spending of the endowment low in the early years. This strategy allowed the university to keep more funds invested and allowed the fund to grow.”
Endowment is one of the important indicators used to assess the health of a college. Currently, St. Ambrose ranks 36 out of more than 200 Catholic institutions in the US.
Restricted vs unrestricted funds
When setting up an endowment fund, donors can choose to make it restricted or unrestricted. Both provide enormous benefits to the university.
Unrestricted dollars can be used to cover gaps in revenue; for example, if the university experiences a low enrollment year. It allows the money to be flexible and meet the ever-changing needs of the institution.
“When possible, we can use the earnings for other intentional purposes, such as funding capital improvements,” Poster said.
Restricted funds can establish specific scholarships, fund faculty positions, or support different lecture series on campus.
Endowed scholarships
Scholarships funded by the endowment open doors for students who might otherwise be unable to afford a St. Ambrose education. These scholarships reward academic excellence, support students from diverse backgrounds, and ensure that financial constraints do not hinder the pursuit of knowledge.
Kelsey Sullivan ‘22, ‘23 MACC, now a legal entity accountant at Caterpillar, received the Van De Voorde scholarship while completing her undergraduate and graduate degrees in accounting. “The Van De Voorde scholarship allowed me to shift my focus from working extra hours to pay for school, to focusing on my studies and having free time to be involved in campus life.”
The Van De Voorde Accounting Scholarship was established by Bob ’59 and Betty Van De Voorde. It’s their way of saying ‘thanks’ to a university that afforded him a successful career.
“Because of the education I received, I had good jobs and was paid well,” Bob Van De Voorde said. “I think it’s important to give back to anyone or place that has given you the opportunity to find your own success.”
Endowed faculty positions
Endowment income also supports faculty positions, enabling the university to attract and retain distinguished professors who contribute to a robust learning environment through cutting-edge research, integration of technology and inspired teaching.
The Ann Elaine Hinkhouse Endowed Chair in Nursing provides the Nursing Department with additional resources and equipment, such as high-fidelity patient simulators. It was announced in 2021 as a legacy gift left by Hinkhouse ’94 MBA.
Endowed academic opportunities
Gifts that support lecture series or academic research are important too. Enabling the university to invite prominent scholars to lecture on campus, sparks discussion and challenges students to re-examine beliefs.
The Kokjohn Endowment, which honors the legacy of Rev. Joseph E. Kokjohn ’50, PhD, funds grant applications for research and speakers focused on social justice, peace, and non-violence.
Personal legacy
For alumni, establishing an endowed fund is a meaningful way to give back to St. Çï¿ûÊÓƵ. It offers a way to create a lasting impact that aligns with personal passions and values. By setting up an endowment, alumni can support specific programs, departments, or initiatives that are significant to them. This form of giving allows alumni to leave a personal legacy at St. Ambrose.
“An endowment fund established by alumni is a powerful statement of trust and belief in the university’s mission,” said Anne Gannaway, vice president for institutional advancement. “It’s a vote of confidence in our ability to foster excellence and innovation at St. Ambrose. These contributions often inspire others to give, and that culture of philanthropy strengthens the entire university community.”