Page 26 - 2024 October

GRANT PROGRAM COMMITTEE MINUTES (4) 8. Report on JSF endowments
A report on the status of JSF’s 31 existing endowments had been circulated. The report showed that JSF has invested a total of $29,944,977 in endowments, which are now valued at $33,234,569. In all, 308 scholarships have been awarded for a total of $2,344,956.
Rick commented that this is the first effort at collecting endowment information from all the schools. Obtaining information about individual students proved challenging, and he noted that tracking graduates can be costly. He questioned some of the data received, noting that at least one of the schools submitted the same information as the previous year. Another issue is whether the schools are following JSF policy regarding the use of endowment proceeds. He also mentioned the difficulty of obtaining information about investment returns, especially at larger mainstream schools where JSF funds are grouped into larger endowments. At some of the tribal colleges and universities (TCUs), there might be a need for better advisors handling their investments. Rick expects to have more information after the October TCU endowments meeting in Scottsdale in October.
A discussion began about the Northern Arizona University (NAU) endowment, which began with $2.2 million and appears to have declined to $1.3 million. Rick noted this was the same information NAU submitted for its 2022-2023 report. It is unclear whether the total included NAU’s institutional commitment. Questions also emerged regarding Dalhousie University’s information. The report included a notation that Dalhousie’s numbers did not match the information in JSF’s last report. It was agreed that more follow-up is required for those two institutions.
Rick was asked for his thoughts regarding the total number of scholarships. He commented that JSF is the 5th largest scholarship provider for American Indian students in the United States. He believes the number of scholarships should be larger because he suspects several schools are underfunding the program. The fact that some of the agreements have different terms also contributed to the difficulty in assessing all of the endowments.
There was agreement that JSF should play a role in monitoring these agreements to the extent possible. Bobby noted that this is an initial report and clearly a work in progress. Rick was thanked for his work on this large project.
9.
Indigenous Peoples Programing
a. Alaska Native Science and Engineering Society (ANSEP)
Lisa introduced Dr. Matt Calhoun, Executive Director of ANSEP; Beth Spangler, Senior Director for Partnerships, Marketing and Research; and Nieca Murphy, Assistant Director of Summer Bridge and University Success. A proposal requesting a grant of $450,000 over 3 years in support of ANSEP’s Acceleration Academy, Summer Bridge and University Success programs had been circulated. JSF previously supported these programs with a 3-year, $450,000 grant that concluded in 2023.
Matt has led the program since Dr. Herb Schroeder, ANSEP’s founder, retired last year. Herb still serves as a consultant. Matt has been with ANSEP since joining as a university student in 1999. He has been teaching at the University of Alaska, ANSEP’s host organization, since 2015. Beth came on board in 2009 and has a science background. Like Matt, Nieca is a graduate of the program and has been with ANSEP for about 5 years.
Page 24 October Report