Lai Undergraduate Award Endowment Report

2020-2021 Endowment Report

THE GREG & CINDY LAI UNDERGRADUATE AWARD Prepared for Mr. and Mrs. Greg Lai

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Table of Contents

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A Message from Dean Williamson

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Philanthropy with Purpose

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The Impact of Scholarship

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The Greg & Cindy Lai Undergraduate Student Award

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Charitable Contributions

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Merage School Endowment

THANK YOU You are making the difference.

It is a great honor to join the UCI Paul Merage School of Business as your new dean.

The Merage School experience goes far beyond a traditional classroom education.

Students are developed into digitally–driven leaders, they build invaluable relationships with faculty and mentors and join an elite alumni community that spans across the globe.

We are in a period of great disruption for higher education, and the Merage School is in a tremendous position to provide innovative solutions for the student experience through online and in-person course delivery and our ability to increase access to a world class education.

This is where dedicated scholarship donors come in. Your generosity enables students with financial insecurities to receive a premier business education as well as access to a myriad of opportunities that the Merage School community provides.

Your impact does not end with our student body. Endowed scholarship funds have become, and will continue to be, increasingly vital to the future of the Merage School.

When you support the Merage School, you understand that what we do matters.

Thank you for joining me in the mission of The Paul Merage School of Business.

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PHILANTHROPY WITH PURPOSE At The Paul Merage School of Business, we are committed to providing scholarship support for our diverse student body to ensure that the best and brightest receive a top-tier education, regardless of wealth or background.

The Merage School’s ability to recruit gifted individuals in this competitive environment depends on financial support. Scholarships at the Merage School are designed to reward, encourage, and assist students in pursuing academic excellence and leadership roles in our digitally-driven world. Monetary awards enable the Merage School to recruit highly qualified students with the potential to have a positive impact in business, as well as in society as a whole.

We are fortunate to benefit from the generosity of our alumni and community members whose dedication to providing scholarship opportunities serve as a philanthropic priority.

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THE IMPACT OF SCHOLARSHIP

Scholarship opportunities keep the Merage School strong and allow us to attract students throughout the world. Your investment directly impacts what is at the core of our mission – to provide a diverse student body with the leadership skills to thrive in this digitally-driven world. The 2020-2021 scholarship figures below reflect the private philanthropic support of our Merage School donors.

2020-2021 Graduate Scholarship Awards

17+

Graduate students awarded scholarships

$558,126+ Total scholarship dollars

600

Students enrolled in Merage School graduate programs

awarded from philanthropic contributions

2020-2021 Undergraduate Scholarship Awards

8+

$16,750+

Total scholarships awarded to undergraduate students

Total scholarship dollars awarded from philanthropic contributions

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Endowed Scholarship Funds 6

130%

increase during the Brilliant Future Campaign

THE GREG & CINDY LAI UNDERGRADUATE AWARD In 2018, alumni Greg, MBA ‘88 and Cindy, ‘92 Lai created the endowed scholarship, The Greg & Cindy Lai Undergraduate Student Award at The Paul Merage School of Business. This scholarship is awarded to a full-time undergradute student who is pursuing a degree in Business Administration.

Tiffany Wong 2020-2021 Greg & Cindy Lai Undergraduate Student Award Recipient Impact Statement

When I began at The Paul Merage School of Business, I jumped straight in to seek as many resources as possible to develop both personally and professionally. Joining the Merage Undergraduate Student Association (MUSA) my first quarter was a great opportunity to meet my highly driven peers. I became an ambassador that people looked to, and through MUSA, I have learned that a leader does not have to be a designated spokesperson. Keen to continually challenge myself, joining Lambda Phi Nu, a business leadership fraternity, gave me the opportunity to be the leader I never thought I could be. I’m grateful for the Merage School community and the opportunities I’ve had which have shaped me into who I am today.

Upon graduation, I hope to work in public accounting, specifically at one of the ‘Big 4’ accounting firms.

Growing up, my mom was in accounting and I was always intrigued with her line of work. Fascinated with numbers at an early age, I still wanted to achieve the goal my mom was never able to, become CPA. By the time I entered college, I was determine to enter the accounting field. Encouraged by board members of Beta Alpha Psi and the Accounting Association, I decided to apply to be a mentee for the Accounting Association Leadership Development Program.

Although experience is not in my favor yet, one thing I do have as an eager, twenty-year old is time. Every day is a learning opportunity, and I hope that whatever path I take will ultimately shape me into a better individual.

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TIFFANY WONG Dear Greg and Cindy Lai, I am sincerely honored to have been selected as the recipient of The Greg and Cindy Lai Undergraduate Student Award for the 2020-2021 academic year. Thank you for your generosity and willingness to give back to undergraduate students.

When I was deciding among colleges to attend my senior year of high school, The Paul Merage School of Business strongly stood out to me. As a goal-orientated person, I knew I wanted to major in Business Administration, and I created a four-year plan in high school to do just that. Being from California, attending a UC was the best choice for my family financially and for myself academically. Having family who live in Orange County and who have attended UC Irvine for their MBA’s, I made it a goal to get accepted into the competitive Business Administration program here, and I was filled with joy when I got my acceptance letter.

Fast forward a couple years, as a current third year Business Administration major, specifically studying accounting and finance, the Merage School has provided me with not only a wide range of resources to help with my professional development, but it has also become my home away from home. Growing up in the Bay Area, I had a strong yearning to move to Southern California. Initially intimidated by this new environment, I was welcomed with open arms from peers and staff. Without the support of this community around me, I would not have accomplished as much as I have so far.

Being awarded this scholarship means a lot. As an eager freshman a few years back, all I ever wanted in college was to develop myself personally and professionally, and most importantly, give back and be a leader for younger peers.

Receiving an award from esteemed individuals like you is a testament to the hard work I have put into improving the business community during my time here.

I hope we can get the chance to speak soon and one day meet each other in person. In the future, I hope that I will be able to help students reach their goals in higher education by assisting them the same way you both are helping me.

Once again, thank you so much for your generosity.

Sincerely, Tiffany 8

JOHN KIM The 2019-2020 Greg & Cindy Lai Undergraduate Student Award Recipient How did The Greg and Cindy Lai Undergraduate Award change your career path?

The Greg and Cindy Lai Undergraduate Award provided me the financial support needed to pursue my interests at the Merage School. Coming from a low socioeconomic background, I was working two part-time jobs in addition to being a full-time student. This limited me from pursuing the extracurricular activities that I was interested in and exploring new opportunities. Knowing that I was receiving financial support from this scholarship, I was able to take a step back from my part-time jobs and commit to what I was passionate about. Throughout the remainder of my second year, I cofounded the first human resources specific organization at UCI (Human Resources Management Association @ UCI) and the Bridge-to-Success program. HRMA provides students who are passionate about the field of human resources with a community and network of opportunities. The Bridge-toSuccess program provides resources, mentorship, and a space for first-generation and transfer students. While I committed myself to these efforts, I realized that making an impact was something that I cared about, and I wanted to pursue a career in human resources.

How has this award impacted your experience at the Merage School?

This award has impacted my experience at the Merage School through the opportunities to give back to the community.

Through the lifted financial burden that came with the award, I was able to commit my time with different opportunities such as becoming a part of the Merage Undergraduate Student Association (MUSA), founding the first human resources business organization at UCI, and dedicating a large portion of my time honing my professional skills (I received an internship at Amazon for summer 2020). Above all, it made me realize that the Merage School is truly a great place for opportunities and resources that foster growth and development in its students.

How did the Merage School help you achieve your goals?

The Merage School gave me opportunities to pursue my passions through many great resources. The BA Career Center, great faculty, and student organizations all contributed to my academic/professional journey in achieving my goals throughout my three years thus far.

What opportunities are you most grateful for?

I’m most grateful that I was able to serve the Merage School community through my time in MUSA, which serves as the undergraduate student government. This past year, I served as the Vice President of Internal Relations, where I was able to spearhead the MUSA Reps program. This program is one that directly caters toward the growth and development of incoming first year students. Having the opportunity to directly impact their lives, especially in this unfamiliar college environment, allowed me to create a space for these freshmen where they have access to a network and environment that fosters success. I truly am appreciative of being given the opportunity to serve our student body and bring about positive change to others.

Tell us about your background before you became a student at the Merage School?

I’m a first-generation college student from South Korea, coming from a low-socioeconomic background. Growing up as a Boy Scout and with a strong belief in the merit of hardwork, I was raised to be a person who has values, such as integrity. All of my experiences contributed to becoming the person I am today, one who is passionate about giving back and providing a positive impact for the community.

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THE GREG & CINDY LAI UNDERGRADUATE STUDENT AWARD ENDOWEMENT GROWTH As of 2020, The Greg & Cindy Lai Undergraduate Student Award endowment is valued at $59,294. Once the endowed fund minimum of $100,000 is fulfilled, the annual scholarship award will be approximately $4,500. Because of the Dean’s commitment to our generous donors, the Merage School will fully fund The Greg & Cindy Lai Undergraduate Student Award until the completion of the endowment in 2023.

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Projected Growth With Pledged Dollars

$100,000 $90,000 $80,000 $70,000 $60,000 $50,000 $40,000 $30,000 $20,000 $10,000

2018

2019

2020

2021

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2022 2023

SUMMARY OF CHARITABLE CONTRIBUTIONS TO THE PAUL MERAGE SCHOOL OF BUSINESS

100 100 +H + H

Your generous support to The Paul Merage School of Business allows us to continue our mission to provide higher education to all. We hope you feel proud to know that your philanthropy makes an impact each year as we award scholarships to our student body.

100+H

The Greg & Cindy Lai Undergraduate Student Award

$237,500

$105,050

Center for Investment and Wealth Management

$42,600

Dean’s Leadership Circle and the Merage School Fund

Cumulative Commitments to the Merage School

$385,150 11

THE MERAGE SCHOOL STATE OF ENDOWMENT $27,299,972

Growth, Market Value and Breakdown As of December 2020 $35,000,000 $30,000,000

$27,299,972

$25,000,000 $20,000,000 $15,000,000 $10,000,000 $5,000,000

2020

2019

2018

2017

2016

2015

2014

2013

2012

2011

2010

2009

2007

2006

2005

2004

2003

2002

2001

2000

$0

23+40+289D Research 9%

Department Support 23%

Student Support 28%

Chairs 40%

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LOOKING AHEAD The Paul Merage School of Business is grateful for the generosity of staff, alumni and community members as we continue to support our student body at the highest level possible. During the course of our comprehensive capital campaign, Brilliant Future, UCI seeks to increase its philanthropic gifts through private resources. An investment in the Merage School is an investment in the future of your community. Your commitment and your generosity ensures our three campaign priorities are achieved.

Access

Scholarships and Fellowships

Innovation

Faculty and Student Research

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Legacy

Leave your legacy for the next generation

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