RSF residents Rick and Ann Hein have announced plans to donate $100,000 to fund the Hein Family Fellowship Endowment at California State University San Marcos (CSUSM) as part of a matching gift challenge. The endowment will fund need-based fellowships to low-income and first-generation post-graduate scholars in the College of Humanities, Arts, Behavioral and Social Sciences.
The Heins recognize that CSUSM students pursuing master’s degrees have unique needs. As the commitment to graduate-level study often precludes outside work, graduate fellowships give CSUSM students the flexibility and freedom to focus on their research interests. During the 2011/12 academic year, more than half of CSUSM’s entire student body received some form of financial aid. Over $1.5 million was awarded in institutional scholarships in the 2011/12 academic year, but less than four percent of that amount went to graduate students.
“For many years we’ve witnessed the really good things happening at CSUSM, especially for low-income students, many of whom are the first in their family to attend college,” commented Rick Hein. “We understand that the financial burden can be difficult, especially for graduate students, so now that we’re in a position to give back this is just the right thing to do. We have always tithed to faith-based organizations. With this gift, we hope to extend our giving by supporting a broader community. We’re offering our gift as a match so that, together, we can help more students realize their fullest potential.”
With an endowed gift, the Heins are providing permanent support to present and future CSUSM grad students. Endowments are invested — never spent — and each year a distribution, like dividends on a mutual fund account, are made to the chosen program or area. Investment earnings above the dividend rate help the endowment value grow over time, to keep pace with inflation and maintain the endowment’s spending power.
“Rick and Ann Hein’s generosity demonstrates their belief that to invest in Cal State San Marcos is to invest in the future of our region,” said President Karen Haynes. “Their support ensures that our bright post-graduate students are able to conduct the research needed to solve critical issues in a variety of fields and contribute to the intellectual capital of our region and state.”
“This is a very significant gift that provides direct support to our graduate students,” commented University Advancement Vice President Neal Hoss. “At a time when support of higher education is under intense scrutiny, the vision and generosity of Rick and Ann Hein ensures that CSUSM will be able to continue to provide opportunities for advanced knowledge to the benefit of our region and beyond.”
For more information on how you can contribute to the Hein’s challenge, contact University Advancement at 760-750-4400.