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The Pioneer Log News

MARCH 16, 2012

Got gap? Explaining a necessary evil

BYJAKE BARTMAN
Staff Writer

If you enjoyed a free doughnut on March 7, you took part in the annual Mind the Gap Day celebration. But why does this gap exist? Does it happen at any other schools? And what is being done to eliminate it? The gap is a result of the difference between the amount paid by students each year for tuition and the actual cost of an education and campus expenses. Tuition only covers around 76% of the full cost. March 7 marked the day when annual fund contributions and interest generated by the schools approximately $179 million endowment took the forefront in paying for the daily cost of running campus. There are various streams of revenue that we have to account for, said Aaron Whiteford (CAS 00), Director of the Department of Annual Giving. These sources include tuition payments, endowment interest and donations from alumni, parents and friends of the college. Donations to the school are used in different ways. Very large donations, like the $10 million gift recently given by the late Fred Fields, are generally put into the endowment. Money in the endowment is not spent, but is used as a continuing source of income by

generating interest at a rate of 4.55% per year. Smaller donations generally become a part of the annual fund, which is comprised of money that is to be spent within a year of its having been given. The annual fund supports about 24-25% of the costs for each

Lewis & Clark... accrues less money from the endowment than do comparablysized colleges. But were in a comparably better [financial] position than other schools, said Aaron Whiteford at the Office of Annual Giving.
year, said Tara Riker at the Office of Annual Giving. Each student is supported indirectly by approximately two alumni per year. The gap is a good thing, Whiteford said, and noted that a comparable gap in fact occurs at every institute of higher learning. Lewis & Clark is tuition-driven in the sense that it accrues less money from the endowment than do comparably-sized colleges. But

were in a comparably better [financial] position than other schools, he said. Donations are essential to keeping the cost of education reasonably affordable. [The size of ] the annual fund impacts almost every aspect of student life, from financial aid to study abroad programs, said Riker. The amount the school is expected to receive from donations is estimated at the beginning of each fiscal year, and that number is used as part of the budget. The Department of Annual Giving plays a large role in ensuring that the projected donations are received. Weve done a good job keeping [this number] stable over the course of the last few years, said Whiteford. The presence of the gap is not likely to change in the future. With rising tuition costs across the country, donations are becoming more important than ever. But though the amount of giving and endowment gleanings are affected by economic factors like the recent recession, Whiteford says that he doesnt foresee a problem meeting projected donation amounts in the future. Of course, theres always a margin for error, he said. But he added that giving to the annual fund increases the value of graduates diplomas by improving the schools reputation.Its an investment in the value of your education, Whiteford said
ILLUSTRATION BY KELSEY GRAY

CRIME BEAT
The Pioneer Log reports crimes in the campus community recorded by Campus Safety from the past week.

Fight for candidacy continues, Romney unable to secure South

Romney, Santorum and Gingrich. Romneys struggle to gain votes in conservative strongholds has concerned many in the party, who question his ability to rally the Republican party around him in the event that he wins the nomination. The drawn out primary process has also had a damaging effect on the electability of Romney on the national level. A poll released this week by the Pew Research Center for the People and the Press showed that, in a theoretical matchup between President Obama and Romney, Obama polled at forty-one percent while Romney was polled at twenty-eight percent amongst voters strongly inclined towards their chosen candidate. In general, Romney has lost around three percentage points since early January, with Obama gaining four percentage points in the same time period. The Pew poll also showed that Romney was polling nine percent above his closest rival, Santorum. Second place is a close race between Santorum and Gingrich, polling twenty-four and twenty percent, respectively. However, Santorum has made the biggest gain, adding ten percentage points to his favorability since early January. This bodes well for Romney, as the last poll in early February saw the two top candidates in a tie.

PRESIDENTIAL RACE UPDATE

ILLUSTRATION BY SAMANTHA SARVET

Crimes for the week of March 4-10, 2012: 1. On March 5, a wallet was stolen from an athletic bag while left unsecured in the Pamplin Gymnasium. 2. On March 10, a non-student was arrested for sexual abuse and harassment at the Pamplin Sports Center. 3. On March 10, a students disorderly conduct, while at the Pamplin Sports Center, was documented.

BY RYE DRUZIN
News Editor

This week brought little change for the Republican candidates running for the presidential nomination. The primaries this week saw a contest for more states in the heartland of conservatives, with Rick Santorum carrying both Alabama and Mississippi by slim margins. Mitt Romney, the established Republican frontrunner, has continuously had disappointing losses in southern states. His inability to secure the vote in the South has led to the drawn out contest that still leaves four candidates to choose from. Romneys campaign has settled

down into a long fight against the other three candidates, which include Newt Gingrich and Ron Paul, in addition to Santorum. The victory Romney gained in Hawaii did little to offset the defeats in the two larger southern states. The third place loss in Alabama added insult to injury as Romney went to New York City on Wednesday for fundraising. Santorum has continued to ride a wave of discontent for Romney that has emerged from the Republican base. The conservative and evangelical vote have drawn the contest out, as the lack of these votes for Romney has effectively split the Republican vote between