Fiat Academic Program Investment
We have high hopes for the first committed investment from our new $300,000 Academic Program Innovation Fund, believed to be the first of its kind in the country. With the help of the investment, we will begin offering minors in data analytics and computer science as of this fall and implement majors in both fields by the fall of 2020. (The new Fund is beginning to get some attention in the media…see, for example, Yahoo Finance and Buffalo News.)
Created by Kevin ’93 and Hanh Livingston, the Academic Program Innovation Fund is truly “Outside of Ordinary.” We are not aware of any other higher educational institution that has a fund like the one created by the Livingston family at Alfred University.
The Fund gives our faculty and staff the opportunity to submit proposals, complete with business plans detailing the start-up costs associated with a curricular innovation and the expected returns in terms of incremental student enrollment and reputational impact, among other considerations. Once an academic program innovation takes off, some of the revenue it generates will be returned, with interest, to the Academic Program Innovation Fund so as to perpetuate it.
We will be seeking additional philanthropic gifts to the Academic Program Innovation Fund to help provide further support for curricular enhancements. We believe we have winners in data analytics and computer science. They are fields that are in high demand by students and employers.
As for Kevin and Hanh, it is no accident that they chose to invest in the future of Alfred University by helping our faculty and staff create programs that will attract, retain, and ensure the professional success of our students while bringing distinction to Alfred University. Kevin, who is a member of the our Board of Trustees and chairs the Investment committee, is one of the founding partners of Consonance Capital, a health care investment firm established in 2005. It is headquartered in New York City and has had an enviable performance record since its inception.
Kevin has demonstrated a knack for investing. So, when he thinks something is going to pay off in the long run and is willing to make an investment in it, we know it is a good deal. We are truly grateful for Kevin and Hanh’s investment in our University and are excited to see how the Academic Program Innovation Fund will enhance our academic offerings.
Please join me in thanking Kevin and Hanh for their generous, Outside of Ordinary support.
Fiat Academic Program Investment!
P.S. If you haven’t already done so for this academic year, don’t forget to make your contribution to the Alfred Fund. It, too, is an investment in the future of our University. Thanks to a generous challenge gift by Marlin Miller and an anonymous benefactor, any incremental gift or Saxon Circle commitment to the Alfred Fund made by the close of our fiscal year on June 30 will get matched dollar for dollar up to a total of $100,000.