DAILY TROJAN, Vol. 54, No. 55, December 17, 1962 |
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University of Southern California
VOL. LIV LOS ANGELES, CALIFORNIA, MONDAY, DECEMBER 17, 1962 NO. 55
$6.5 MILLION!
Ford Foundation
fo Earn Grant
Spurs University
USC Must Raise $19.5 Million
Master Plan
CHRISTMAS PRESENT — President Topping (left) and trustee H. Leslie Hoffman, chairman of the Na'ional Committee for the
Milestone
Master Plan, receive news of the decision by the Ford Foundation to set aside $6.5 million in matching funds for USC.
The Ford Foundation yesterday set aside $6.5 million for the academic development of USC in the largest grant ever received in the university’s 82-year history and the third largest ever made to a university by the foundation.
The funds will be made available to USC over a three-year period on a 3 to 1 matching basis, with $1 to be granted by the foundation for every $3 raised by the university. In the three-year time period, USC will have to raise S19.5 million to receive the entire $6.5 million.
Under conditions of the grant, matching funds must come from private, philanthropic sources other than the Ford Foundation. The Fold Foundation trustees also approved a $6 million grant to Brandeis University, Waltham, Mass., under similar terms.
President Topping, informed of the decision by the foundation’s trustees, said all Ford and matching money will be applied to the goals of the university’s Master Plan, which has among its top priorities the improvement of faculty positions and salaries.
An immediate payment of $1 million will be made to USC to recruit new faculty, raise faculty salaries and start construction of a new physical sciences building.
The Ford grant was made under the foundation’s 2-year-old Special Program in Education to advance development of selected private universities and colleges as national and regional centers of higher educational excellence.
The two new grants make the total of Ford Foundation funds alloted to education since 1960 $127.2 million. Other universities aided by the foundation include Brown, Johns Hopkins, Stanford, Vanderbilt, Denver and Notre Dame.
Dr. Topping said the grant “will enable the university to move forward much faster than had been anticipate.”
“It now becomes an obligation on our part to make the
(Continued on Page 2)
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| Title | DAILY TROJAN, Vol. 54, No. 55, December 17, 1962 |
| Description | DAILY TROJAN, Vol. 54, No. 55, December 17, 1962. |
| Full text | University of Southern California VOL. LIV LOS ANGELES, CALIFORNIA, MONDAY, DECEMBER 17, 1962 NO. 55 $6.5 MILLION! Ford Foundation fo Earn Grant Spurs University USC Must Raise $19.5 Million Master Plan CHRISTMAS PRESENT — President Topping (left) and trustee H. Leslie Hoffman, chairman of the Na'ional Committee for the Milestone Master Plan, receive news of the decision by the Ford Foundation to set aside $6.5 million in matching funds for USC. The Ford Foundation yesterday set aside $6.5 million for the academic development of USC in the largest grant ever received in the university’s 82-year history and the third largest ever made to a university by the foundation. The funds will be made available to USC over a three-year period on a 3 to 1 matching basis, with $1 to be granted by the foundation for every $3 raised by the university. In the three-year time period, USC will have to raise S19.5 million to receive the entire $6.5 million. Under conditions of the grant, matching funds must come from private, philanthropic sources other than the Ford Foundation. The Fold Foundation trustees also approved a $6 million grant to Brandeis University, Waltham, Mass., under similar terms. President Topping, informed of the decision by the foundation’s trustees, said all Ford and matching money will be applied to the goals of the university’s Master Plan, which has among its top priorities the improvement of faculty positions and salaries. An immediate payment of $1 million will be made to USC to recruit new faculty, raise faculty salaries and start construction of a new physical sciences building. The Ford grant was made under the foundation’s 2-year-old Special Program in Education to advance development of selected private universities and colleges as national and regional centers of higher educational excellence. The two new grants make the total of Ford Foundation funds alloted to education since 1960 $127.2 million. Other universities aided by the foundation include Brown, Johns Hopkins, Stanford, Vanderbilt, Denver and Notre Dame. Dr. Topping said the grant “will enable the university to move forward much faster than had been anticipate.” “It now becomes an obligation on our part to make the (Continued on Page 2) |
| Archival file | uaic_Volume1320/uschist-dt-1962-12-17~001.tif |
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