Institutional and Financial Development
In December 1995 Yale President Richard C. Levin, NEH Chairman Sheldon Hackney and DeWitt Wallace-Reader's Digest Fund President M. Christine DeVita announced the successful completion of the endowment challenges awarded by the National Endowment for the Humanities and the DeWitt Wallace-Reader's Digest Fund. This represents a milestone in the establishment of a core endowment of more than $4 million, the income from which is restricted to support the Institute s activity in the humanities in perpetuity. Endowment revenues not needed to support the Institute s annual operation during the period of the three-year (1995-1997) $750,000 grant from the Pew Charitable Trusts, are being reinvested to build the Institute s endowment. The goal is an eventual endowment comprising at least $5 million in the humanities and $2 million in the sciences.
In this way, the Institute is attempting to secure not only the operating support that will be necessary to fund fully its current operations, but also to invest as much as possible of its endowment revenues in order to increase the Institute's permanent funding and thereby provide more adequately over the longer term for its efforts locally and nationally.
Annual Report 1996: Table of Contents | Yale-New Haven Teachers Institute