The Osher Foundation recently donated a $1 million endowment to the U Osher Lifelong Learning Institute, but the institute will now be receiving less funding annually from the foundation.
Program directors said the endowment will allow the program to be self-sustainable.
“It’s the largest and only endowment we’ve received for this program,” said Cathy House, Osher’s director. The institute received the check mid-July.
Osher provides courses, lectures and special events for people ages 50 and older and has been part of the Continuing Education program for four years.
During the past four years, Osher has received $100,000 in start-up funding from the Foundation. The endowment will replace the start-up funding, but only provide $38,000 annually in generated interest.
“With the endowment, it can continue to flourish for many years to come,” said David Blazevich, senior program officer for the foundation. “It’s been strong for quite some time and we’ve been pleased with its growth.”
Although the amount is less than what the program has received in past years, Brent Vawdrey, program coordinator for Osher, isn’t worried.
“I think we’re definitely at a point (where) we’re financially sustainable and things are looking great,” he said.
However, Tempel Riekhof, advisory council and program member, is concerned membership fees might have to go up to compensate the drop in funding. The current fee is $30 per year.
Another concern facing the program is adequate space if membership continues to grow, Riekhof said. As of now, Osher is renting rooms in Fort Douglas, but may need to relocate to accommodate increased numbers.
“But I trust the staff…that things will still go well,” Riekhof said.
Current and emeritus faculty, as well as experts from the community, teach the classes that meet once a week and last six weeks through fall, winter and spring. The classes cover topics ranging from watercolor painting to Middle East politics.
“There are no tests or grades,” House said. “It’s just for people who want to learn for the sake of learning.”
Osher began with only 12 classes and 50 members and has progressed to more than 40 courses and close to 600 members, she said.
The endowment will provide funding well into the future and allow him to continue working with members like Riekhof, Vawdrey said.
“That’s my favorite part of the job,” he said. “It’s great to see folks who are new to the community come and make connections with peers of their own age and to see the friendships that have developed.”
Vawdrey said his job at Osher is the most rewarding position he has ever had.
“The Osher Foundation takes very good care of all their institutes and does everything they can to make sure they all succeed,” Vawdrey said. “We certainly couldn’t have done it without that.”