James '69C, '71G and Susan Spero Endowment

The Endowment Fund shall provide funding support for the growth and academic standing of the University. To that end, annual distributions from the fund shall be expended as follows: 50% for need based scholarships and the remaining 50% for capital improvements as determined by the Chief Financial Officer or his/her designee. Annual expenditures will be made in accordance with standard University policies and procedures. The recipient(s) of the Scholarships shall be selected by the University’s Office of Student Financial Services or its successor. The criteria used in determining the recipients shall be based upon financial need and scholastic achievement.