During the past 50 years, the Foundation has paid out over $129M in Fellowships to support more than 1100 Fellows as they have pursued and received their graduate degrees. As donors and friends, many of you are partnering with us to continue our tradition of excellence in the selection and nurturing of young talent.
Presently, Hertz pays out $52K a year per Fellow which includes the tuition, stipend, and program services expenditures. The Foundation is able to continue supporting approximately 70 Fellows in graduate school each year because of reduced tuition agreements with tenable universities and savings from the coordinated Fellowship program.
At present, our corpus is approximately $20M, far below the level that is needed for a robust program. Consequently, we have launched a major fundraising initiative to recapitalize the Foundation. The Foundation’s long-term goal is to select and support thirty Fellows per year, the top 1% of graduate students in applied science and engineering.
Expenditures Fiscal Year 2012
The pie chart illustrates the expense allocations of $3,548,157 for fiscal year ending June 30, 2012. It shows expenses of Fellows’ Program Services (75%), Operations (17%), and Development (8%).