During the past 50 years, the Foundation has paid out over $129M in Fellowships to support more than 1,100 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 mentoring of young talented scientists and engineers.
Presently, Hertz pays up to $53K 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. The Foundation currently selects up to 15 Fellows per year.
At present, our corpus is approximately $20M. 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 physical, biological and engineering sciences.
Expenditures Fiscal Year 2014
The pie chart illustrates the actual expenses of $3,752,627 for fiscal year ending June 30, 2014. It shows Fellowship Expenses (60%), Fellowship Support (20%), Management & General Operations (13%) and Development (7%).
*Fellowship includes tuition, stipend, and the selection process. A $376k accrued tuition and stipend adjustment, not an expense, is included in the audited financials.
**Fellowship support includes mentoring, communications, workshops, retreats, and special gifts or grants awarded to Fellows.