HILLTOP VIEWS
St. Edward’s University • Wednesday, March 27, 2013 • Volume 33 • Issue 8 • hilltopviewsonline.com
Interest from endowment funds scholarship, aid Adam Crawley dcrawle@stedwards.edu
With the recent $20 million donation by the Munday family, the university endowment has risen to $76.8 million. The university endowment is a large sum of money that is not meant to be spent itself. Rather, it gathers interest over time. This interest is what the university can
spend. “Every time somebody gives us a dollar in If a dollar generates endowment... We’re going to spend what a nickel in comes off of it every year.” yearly interest, for example, a dol-Michael Larkin, vice president of University Advancement lar in a bank account would reliof University Advancement formula,” Larkin said. “Curably generate nickels to spend Michael Larkin said. rently that is set to be five every year. The university “The endowment produces percent of a three year averendowment operates along money every year, and there age. What does that mean? this analogy, Vice President is a thing called the spending It means it's not a strict five
percent. The fact is this dollar over three years is probably slightly less than a dollar. “ Essentially, due to inflation in the economy, a dollar will be worth slightly less in three years than it is today. “Every time somebody gives us a dollar in endowment, what we're basically doing is we're saying we're going to take this dollar and we're going to stick it in the bank and we're never going
to spend that dollar,” Larkin said. “We're going to spend what comes off of it every year. And then we don't have to get it from another source.” As the university endowment climbs, it will generate more interest to spend. Rhonda Cartwright, vice president of Financial Affairs, said the endowment contributes about .5 percent to the operating budget every year. DONATION | 2
Marketing department drafts new photography consent form Austin Hestdalen ahestda@stedwards.edu
Following the launch of the “Take on Your World” marketing campaign in March 2012, St. Edward’s University is advertising across different media and through various platforms. Advertisements can include photos that are taken specifically for that purpose, and more recently, photos provided to the university by students. The Marketing Department is drafting a new Authorization and Release Form to dictate exactly how the university can publish
photos provided to them by students, faculty or staff. Anyone who signs the new form gives consent to let the university “copy, exhibit, publish or distribute any and all photographs” he or she provides for use “in all forms and media throughout the world.” The previous Authorization and Release Form only referred to pictures taken by an official St. Edward’s photographer, not photos provided by a student. However, these two forms are for two different situations: the existing form is signed by subjects in photos taken by Marketing, while the drafted form
will be for people who are giving consent for Marketing to use personal photos. The person providing the photos will be asked to sign the Authorization and Release Form which gives the university consent to use the images for marketing purposes, including advertisments on billboards and television, in print and online. Previously, a concrete policy outlining the circumstances by which the Marketing Department could use photos submitted by members of the St. Edward’s community did PHOTO | 3
ESTIMATED AUDIENCE OF UNIVERSITY ADS
F
35
ST. EDWARD’S
I-35
3,142 followers
approx. 5,095 students & 950 faculty & staff
10,006 page likes
approx. 200,000 per day
Graphic Illustration by Hannah Smith Potential audience for advertisements on social media, on campus and billboards along I-35.
8 | LIFE & ARTS
12 | SPORTS
13 | VIEWPOINTS
Professor, musician and author Brother Muller, age 86, prepares for retirement.
Sports Editor Nolan Green weighs his March Madness picks against Obama’s.
Our View discusses the changes to the university’s consent policy for photos.