The Annual Fund is a fundraising effort that provides much needed general support to Alfred State. The college administration allocates the funding where it is needed the most, including scholarships, equipment, and academic needs. Alumni, parents, friends, faculty/staff, and businesses are asked to support the Annual Fund. The Alfred State Annual fund drive runs from July 1 through June 30.
Endowments and scholarships are often named in honor of a
family member or friend. Also, naming opportunities for classrooms and
gathering spaces, laboratories and buildings are available for donors
who wish to honor or memorialize their loved ones in this manner.
Every gift does make a difference. Through the Annual Fund, even relatively small unrestricted gifts can have a major impact. And when combined with hundreds or even thousands of other "small" gifts, the College can do many great things to continue to enhance the education experience for our students as well as offer more scholarships.
An endowment preserves capital, overcomes inflation, and provides long-term, reliable income to the College. For example, a $100,000 scholarship gift might be awarded to deserving students at $5,000 per year - meaning the scholarship fund will be depleted in 20 years. But if that $100,000 were used to establish an endowment, the gift would be invested and a portion of the earnings used to award scholarships. Another portion would be used to increase the principal and offset investment costs. The endowment would therefore continue to grow over time, supporting scholarships for as long as the College exists. A minimum of $10,000 is needed to establish an endowment.
Like most other public universities, Alfred State receives less than one-third of its revenues directly from state government. At times, federal and state dollars are allocated to specific projects or infrastructure needs. Tuition accounts for a small percentage of College revenues.
Alfred State must rely on private donations to support the remaining needs - everything from scholarships to faculty hiring and retention to equipment for classrooms and laboratories. When new buildings are built, state funds pay for the actual cost of construction - not for the furnishings needed to bring those spaces to life. Gifts and endowments provide financial strength to Alfred State.