USC Endowment Lowest Per Student in SEC
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University of South Carolina Scholar Commons October 2011 10-10-2011 The aiD ly Gamecock, MONDAY, OCTOBER 10, 2011 University of South Carolina, Office oftude S nt Media Follow this and additional works at: https://scholarcommons.sc.edu/gamecock_2011_oct Recommended Citation University of South Carolina, Office of Student Media, "The aiD ly Gamecock, MONDAY, OCTOBER 10, 2011" (2011). October. 14. https://scholarcommons.sc.edu/gamecock_2011_oct/14 This Newspaper is brought to you by the 2011 at Scholar Commons. It has been accepted for inclusion in October by an authorized administrator of Scholar Commons. For more information, please contact [email protected]. dailygamecock.com UNIVERSITY OF SOUTH CAROLINA MONDAY, OCTOBER 10, 2011 VOL. 107, NO. 37 ● SINCE 1908 USC endowment lowest per student in SEC Campus ranks far below other schools building expenses among other things. Recently, USC in Southeastern Conference; university offi cials offi cials said they’d use $15 million from the fund to offset USC additional costs for the new business school. 12,451 say investment fund continues to strengthen The university’s total endowment of $414 million held $ Thad Moore just $12,451 for each undergraduate student in the university per student [email protected] system during the 2010 fi scal year , which was well below the USC’s endowment per student ranked last of any SEC’s 2010 median endowment per student of $25,320. university in the Southeastern Conference last year , but Vanderbilt, a private school, wasn’t counted in the SEC median university offi cials say the fund is on the rise. calculations. Endowment per student fi gures were calculated The endowment account, managed by the university’s using endowment data from the National Association of $ 25,230 Educational Foundation , holds and manages donations to College and University Business Offi cers and Commonfund per student the university from private donors. The endowment money and used 2010 undergraduate enrollment fi gures. is invested in various ways , and the income generated {{}*Vanderbilt not included} from the investments funds the university’s operating and ENDOWMENT ● 2 J-school move receives fi nal USC approval $18 million project now faces state scrutiny Josh Dawsey [email protected] After years of dashed hopes and false starts, the College of Mass Communication and Information Studies received fi nal university VIDEO BOARD RECEIVES OK, approval to move from the Carolina Coliseum onto the Horseshoe EXPECTED FOR 2012 SEASON during a Friday board of trustees meeting. The $18 million project now faces several rounds of state approval, which should conclude by year’s end. Should no problems Courtesy of Garvin DesignGroup arise, the college will move into the former Arnold School of Public expected to arrive before 2013. All told, isn’t fi nished before 2012, USC would use $6.5 million athletics project Health by the middle of the board will cost about $6.5 million and its existing board until the work is complete. 2014, said Dean Charles originally slated for 2013 range 36 feet by 124 feet , according to the “We’ll cross that bridge when and if we Bierbauer. athletics department. get to it,” Hyman said. “We like the idea Josh Dawsey “Not one tax dollar” is going into the The board will have a 10-year life span, [email protected] of being in the center project, said athletics director Eric Hyman . according to the university. of campus,” Bierbauer The majority of the project will come It won’t be the only new aspect in 2012, said. “Even though the Williams-Brice Stadium will finally from private donations, but some athletics as university offi cials plan to unveil their campus is migrating in have its high-defi nition video board — and operating funds may support the project much improved farmers market “premium our direction here, as a sooner than originally expected. as well, Hyman said. The board would tailgating” area. communications entity, The university’s board of trustees gave be the third largest in the Southeastern The board of trustees also gave final we would like to think final approval for the installation, which Conference , according to athletics offi cials. approval to a complete overhaul of USC’s of communications as athletics officials say will likely occur The project faces several rounds of state softball stadium. The project — expected to a hub that fi ts better in prior to the 2012 season . It was originally approval in the coming months. If the board BOARD ● 3 the middle of campus. Maybe we’ve been on the periphery for too long.” The School of Dance festival dazzles with diversity Public Health will fully exit the building in the beginning of “[Anderson] wanted to start SC professional 2013 , Bierbauer said. a statewide dance festival, so crews showcase Then, construction last year she asked me to write and upgrades would variety of moves a grant to the provost’s offi ce, begin on the more- and we’ve been working on the than-50,000 square feet Amanda Coyne festival since we received the [email protected] building . grant,” Becker said. Space occupied The festival is sponsored by by the School of Professional dance companies the Creative and Performing Journalism and Mass from all over South Carolina Arts Grant Program of the Communications inside took the Koger Center stage USC’s Offi ce of the Provost. The Carolina Coliseum with flying colors Friday as a Friday’s performance is currently under part of the fi rst South Carolina featured eight professional 30,000 square feet. Festival of Dance. A particularly dance companies from The new facility large audience gathered to see Greenville to Charleston as would include a what USC’s Board of Dance well as the FresNO Dance rooftop terrace, new member Gillian Albrecht called COllective of Fresno, Calif. furniture and upgraded “a bringing together of some of “We invited professional technology appropriate the greatest dance talent in the companies from all over South for a modern journalism state of South Carolina.” Carolina to perform and had school, according to The festival, presented by the an overwhelming response,” university plans. USC Dance Program , was the Becker said. “With the But some in the brainchild of Artistic Director professional companies, we school have remained Susan Anderson and Dance wanted to feature all kinds of skeptical as plans have Festival Coordinator Kindra Alexis Griffi th / THE DAILY GAMECOCK ● Becker. DANCE 2 The fi rst South Carolina Festival of Dance was held Friday. JOURNALISM ● 3 Monday Game stops by USCA View from China Shaw stars in romp 68° 64° The Rapper made Columnist Alice South Carolina a stop on his EA Chang believes the thrashed the Univer- Games tour Friday Occupy Wall Street isty of Kentucky on Tuesday night for a crowd of movement needs Saturday, winning Carolina Students. more unifi cation for 54-3. 70° 62° success. See page 5 See page 4 See page 8 2 Monday, October 10, 2011 ENDOWMENT ● Continued from 1 Launched in July 2005, the Florida Part of this low value can be attributed Tomorrow campaign set out to raise Past newspapers to the university’s relatively small total $1.5 billion for the university by endowment being divided among a September 2012, according to the relatively large and growing student Independent Florida Alligator ; as of body. USC’s total endowment was the Sept. 30, says the campaign’s website, it third smallest in the conference last has gathered $1.4 billion. digitized for access year, larger only than endowment funds Steve Orlando , director of the at Auburn University and Mississippi University of Florida New Bureau, More than 100,000 images anywhere there is Internet access. State University. Those schools have wrote in an email response that state from years 1860-1922 Virginia Pierce, the metadata and signifi cantly smaller student bodies. support helped grow the university’s outreach specialist for SCDNP, is According to Russ Meekins , chief endowment as well. available online in charge of line-by-line metadata financial officer of USC Foundations “An additional support was the Will Torness [email protected] analysis that is then converted to into and director of the Educational visionary State of Florida matching gift the framework for what is viewed Foundation , the university’s funds are program that matched gifts of $100,000 online. She said that though her work on the rise. Preliminary unreleased or more,” he said. South Carolinians now have access can be somewhat dry, she often comes numbers show the endowment grew The ability of USC’s efforts to to thousands of historical newspaper across some very interesting articles. about 18 percent during the 2011 fi scal increase the level of endowment per images, thanks to a program called the One such article detailed an incident year to about $490 million, Meekins student, however, is tempered by South Carolina Digital Newspaper in 1903 when the lieutenant governor said. the increase in size each year of the Program. in offi ce shot the editor of The State Much of that increase was driven incoming freshman class. SCDNP, a faction of the National newspaper across the street from the by returns on USC’s investments, “We’ve increased the number of Digital Newspaper Program, started Statehouse. which were nearly 24 percent for fi scal students faster than we’ve been able to back in 2009 when the National The online digital records not only year 2010-11, slightly outpacing the increase the endowment,” Meekins said. Endowment for the Humanities provide easy access to the newspapers Dow Jones Industrial Average, which On the Columbia campus, the size of (NEH), in a partnership with the but also make finding specific increased 22.4 percent over the same the 2011 freshman class reached 4,500, Library of Congress, awarded a grant information contained in them easier, period, according to Meekins.