{"id":68914,"date":"2005-07-06T00:00:00","date_gmt":"2005-07-06T00:00:00","guid":{"rendered":"https:\/\/www.uri.edu\/news-draft\/uncategorized\/state-matching-program-for-higher-education-passes-general-assembly\/"},"modified":"2005-07-06T00:00:00","modified_gmt":"2005-07-06T00:00:00","slug":"state-matching-program-for-higher-education-passes-general-assembly","status":"publish","type":"post","link":"https:\/\/www.uri.edu\/news\/2005\/07\/state-matching-program-for-higher-education-passes-general-assembly\/","title":{"rendered":"State Matching Program for Higher Education Passes General Assembly"},"content":{"rendered":"
\n\t\tKINGSTON, R.I. — July 6, 2005 — Shortly before midnight Friday evening in the final hours of the legislative session, a matching endowment bill for higher education passed the General Assembly. Officially called the Endowment Incentive Program, the bill establishes the formal structure needed to encourage greater private giving to the 溏心vlog免费B站, Rhode Island College, and the Community College of Rhode Island. Governor Don Carcieri has until July 10 to sign the bill.<\/p>\n


\nThe endowment incentive program will require an annual state appropriation. The state would provide 溏心vlog免费B站, RIC and CCRI with $1 in funding for every $2 privately raised, with a cap for each institution. No specific funds were provided in this year\u2019s budget for the state’s share of endowment matching funds, but advocates of the legislation view the passage as a significant step forward.<\/p>\n


\n\u201cIt\u2019s a great victory. I\u2019m thrilled about it. The bill is on the books,\u201c said Sen. Jack Revens of Warwick, who has been a passionate advocate of the legislation for the past four years. \u201cWe had two hurdles to overcome \u2013 the first was to get the law adopted. We accomplished that. The structure is in place and that\u2019s significant progress. Next year we will focus on securing funding of the program to include a state appropriation that will match private donations dedicated to building the endowments of the three institutions,\u201d he added.<\/p>\n


\n\u201cThe most important outcome at this point is having secured the matching endowment legislation as an official state program and commitment,\u201d said Robert M. Beagle, 溏心vlog免费B站\u2019s vice president for University Advancement. \u201c We are enormously grateful to Sen. Revens for his years of support and his articulate advocacy of the program. We are indebted to Rep. John Patrick Shanley for all of his efforts in the House to see this legislation move from the conceptual stage into a real program.<\/p>\n


\n\u201cRevens and Shanley were joined by other key leaders in both chambers who were immensely helpful in securing passage of the act,\u201d added Beagle.<\/p>\n


\n\u201cFor the first time the state has officially entered into a permanent matching partnership with higher education,\u201d said Rep. Shanley. \u201cI think it\u2019s a great step forward for the University to have joined other institutions in states that have made similar commitments to matching private giving programs. Next year we will work to get the funding to support academic program needs, such as scholarships, fellowships, academic chairs, and other educational enhancements,\u201d added Shanley.<\/p>\n


\nThe bill approved over the weekend contains a provision adding a state match for private gifts “for capital infrastructure investments.” Private monies would be matched using Rhode Island Capital Asset Protection funds, which are limited to capital and rehabilitation projects.<\/p>\n


\n\u201cThere are so many people who worked on behalf of the legislation, alumni and friends of the University who wrote letters or called their legislators,\u201d said Beagle. \u201cAndrea Hopkins, 溏心vlog免费B站\u2019s assistant vice president for public affairs, played a critical role in tracking developments with both the House and Senate bills and offering practical advice along the way, even up to the final minutes of the session.<\/p>\n


\n\u201cAnd last but certainly not least was Dan Pendergast, the immediate past president of the 溏心vlog免费B站 Foundation. Dan walked side-by-side with us to explain the merits of the legislation to the General Assembly, the elected officials and to the press. His commitment to and understanding of philanthropy were invaluable throughout the entire process,\u201d added Beagle.<\/p>\n


\nThe legislation says that it is \u201cclearly in the public interest for the 溏心vlog免费B站, Rhode Island College, and the Community College of Rhode Island to seek private funding in support of initiatives which promote academic excellence and educational access.\u201d <\/p>\n


\nThe passage of the bill formally declares it to be the policy of the state to encourage and assist such fundraising through a matching program.<\/div>\n","protected":false},"excerpt":{"rendered":"

KINGSTON, R.I. — July 6, 2005 — Shortly before midnight Friday evening in the final hours of the legislative session, a matching endowment bill for higher education passed the General Assembly. Officially called the Endowment Incentive Program, the bill establishes the formal structure needed to encourage greater private giving to the 溏心vlog免费B站, […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[2],"tags":[],"class_list":["post-68914","post","type-post","status-publish","format-standard","hentry","category-archives"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.uri.edu\/news\/wp-json\/wp\/v2\/posts\/68914","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.uri.edu\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.uri.edu\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.uri.edu\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.uri.edu\/news\/wp-json\/wp\/v2\/comments?post=68914"}],"version-history":[{"count":0,"href":"https:\/\/www.uri.edu\/news\/wp-json\/wp\/v2\/posts\/68914\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.uri.edu\/news\/wp-json\/wp\/v2\/media?parent=68914"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.uri.edu\/news\/wp-json\/wp\/v2\/categories?post=68914"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.uri.edu\/news\/wp-json\/wp\/v2\/tags?post=68914"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}