How is OLLI Funded?
The Osher Lifelong Learning Institute (OLLI@UND) emphasizes collaborative leadership and active member participation. It is because of the substantial support from The Bernard Osher Foundation, the University of North Dakota, Bismarck State College, and membership fees that we are able to offer these unique educational opportunities to residents of nearby communities and beyond.
In March 2011, after exceeding the goal of 500 OLLI members, we were awarded a $1,000,000 endowment by The Bernard Osher Foundation. This endowment allows OLLI to have partial funding in perpetuity, providing approximately $40,000-$50,000 (interest on investment) toward our annual operations in lieu of the $100,000 we have been receiving during each of the past four years. The potential impact of receiving this generous gift is enormous and will provide great stability for the future.
This new stability does not come without challenges. Our operating revenue was cut by 50% and the endowment principle can never be spent. The $1 million gift will be invested and the Institute will receive a portion of the interest each year.
Our focus is to increase our membership, increase our class enrollments, and become self-sustaining. With increased volunteer efforts and the support of our members, we will succeed!
Read the news release announcing our $1 million endowment from The Bernard Osher Foundation.