CSI Trying to Double Its Endowment

Staten Island Advance - Sunday, January 20, 2008
 

To succeed, colleges must not only attract students, but aid them financially.

At the same time, schools must provide diverse opportunities in scholastic, research and work programs, says Dr. Tomas D. Morales, president of the College of Staten Island.

Achieving those goals requires much more than tuition dollars and state-supplied cash. So, the Willowbrook school is embarking on an ambitious campaign to double its current $2.7 million endowment.

"I want to raise $5 million as quickly as we possibly can," said Dr. Morales said in an interview last week.

IN NEED OF $$ HELP

"This is what we need to do to move the college forward. There are students on Staten Island who need the [financial] support to come here and there are students who want to come here. In order to be competitive, to attract a bright, diverse student body, you have to provide scholarships and support, and a top educational experience."

Built through private donations, the endowment funds scholarships, work and mentoring stipends, internships and overseas-studies programs.

Many colleges and universities, particularly private schools, have vast endowments that dwarf CSI's. About 12,500 students attend CSI.

Dr. Morales said schools in The City University of New York (CUNY) system, such as CSI, have been told to beef up fund-raising. Undergraduate tuition is $4,000 a year.

"Part of the expectation is that we're not going to get all of what we need to run the college from tax-levy dollars," he said. "One of my responsibilities as a president is to raise private dollars."

Dr. Morales said he would tap the school's sizable alumni.

CSI has about 55,000 graduates, 40 percent of whom live in the borough, he said. He also plans to reach out to prominent Staten Islanders and businesses, as well as those who have a connection to the school, such as through relatives who are alumni.

"One of the reasons I'm interested in increasing our endowment is to significantly increase the number and amount of scholarships we can provide to our students," Dr. Morales said. "That means predominantly students from Staten Island."

In 2006-2007, 142 students received tuition scholarships totaling about $228,000, said Kenneth Bach, a CSI spokesman. Another 22 students each received summer work stipends of $1,000 from Northfield Savings Bank. In 2005-06, the school doled out about $279,000 in tuition scholarships to 175 students, said Bach. An additional 25 students received $1,000 each in summer work stipends.

LOFTY, DO-ABLE GOAL

Bolstering CSI's endowment is crucial, agree the heads of CSI's primary fund-raising arm.

"I think it's a lofty goal, but it's do-able," said James Easley, president of the College of Staten Island Foundation and general manager of the Staten Island Mall. "I think we have a great product in the College of Staten Island."

Robert Cutrona, the foundation's vice president, said the school would seek to build financial and personal bridges with local companies.

"The College of Staten Island can be an incredible source in providing very high-end employees and staffing to the business community," said Cutrona, president of Project One Services Inc., Meiers Corners. "We've got an awful lot to offer and we have to get the message out. We haven't been very good previously in getting out that message."

On a parallel note, Gov. Eliot Spitzer said the permanent endowment for state colleges and universities should collectively be "at least" $4 billion. That money would generate $200 million in operating funds each year, he said.

Spitzer said the money to fund the endowment should come from selling a portion of the state lottery to a private owner or looking at other financing alternatives.

Besides scholarships and stipends, new endowment dollars at CSI will help fund on-campus housing. While no shovels have gone into the ground, Dr. Morales said he hopes resident halls will be completed in May 2010. Prior plans to erect dormitories on adjoining state land occupied by the developmentally disabled community were dropped in 2006 amid protest.

While he's anxious to boost the school's kitty, Dr. Morales said there's no strict timetable. Still, it's important to get started.

"We have to raise the positive profile of the college," he said. "You do that by attracting the best students. That will attract faculty, and research and grant funds."

By Frank Donnelly
Reprinted here with permission from the