University of Guam Endowment Foundation Inc.

The University of Guam Endowment Foundation Inc. is a nonprofit organization founded in April 1982, to support the University of Guam in the Marianas archipelago of Micronesia. The foundation serves as a vehicle for developing the university by soliciting, receiving, and administering resources that enhance its initiatives and community engagement projects.

Mission

The foundation's mission is to foster and promote the growth, progress, and general welfare of the University of Guam. This is achieved by securing gifts, grants, and other resources to empower and support the university’s efforts in meeting community challenges in Guam, Micronesia, and the neighboring Asia Pacific regions.

History and Governance

Since its establishment, the University of Guam Endowment Foundation has engaged numerous individual and corporate donors in support of scholarships, capital improvements, special projects, and visiting professorships. The foundation is managed by a ten-member board of directors, which includes representatives from various sectors such as medicine, tourism, engineering, government, and real estate.

Financial Overview

As a tax-exempt organization, the foundation generates revenue primarily from contributions and investment income. In recent years, it has seen significant financial growth, with total assets exceeding $27 million. The foundation's financial stability allows it to effectively support the University of Guam's educational initiatives and infrastructure development.

Scholarships and Philanthropy

The foundation plays a crucial role in enhancing student life through scholarships established by its donors. Examples include the Akira Baba Memorial Scholarship and the IT&E endowed scholarships, which support students in fields like tourism, hospitality, and marine biology. These scholarships reflect the foundation’s commitment to fostering a new generation of professionals in various fields.

Impact

The University of Guam Endowment Foundation's impact extends beyond financial support, as it serves as a bridge between the university and the broader community, including businesses and individuals. By promoting educational excellence and community engagement, the foundation contributes to the development of leadership in Guam and the region.

Classification

The University of Guam Endowment Foundation is classified as an organization supporting international, foreign affairs, and national security, under the National Taxonomy of Exempt Entities (NTEE).