During the past 52 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 $17.7M. We have launched a major fundraising initiative to recapitalize the Foundation. The Foundation’s long-term goal is to select and support thirty new Fellows per year, the top 1% of graduate students in physical, biological and engineering sciences.
Expenditures Fiscal Year 2015
The pie chart illustrates the actual expenses of $3,954,363 for fiscal year ending June 30, 2015. It shows Fellowship Stipend and Tuition (54%), Fellowship Selection (13%), Community, Workshops, Retreats (14%), Management and General Operations (13%), and Development (6%).
The audited financials includes an accrued tuition and stipend adjustment of $197k that is not included here as an expenditure.