I am pleased to describe a scholarship that will directly benefit the University of St. Thomas Aristotle Fund Student Managers.
Those of you who were able to attend the Annual Meeting of the Aristotle Fund in May of 2008 heard about the generous gift by Michael Reger, an alumnus of UST. Mike, founder and CEO of Northern Oil and Gas (NOG), donated 50,000 shares of NOG stock (valued at the time at approximately $575,000) to establish a scholarship at the University of St. Thomas.
This scholarship will provide an annual gift to the Aristotle Fund which will be used to fund activity fees associated with the Fund, such as trips to visit company management and investment industry conferences for the student managers of the Aristotle Fund. The amount of money generated annually by the gift will be determined by the 4% spending rule of the endowment and is based on the investment performance of the endowment as a whole. This truly will be a gift that keeps on giving.
Needless to say, as an educator, this was a dream come true for me. While I have wanted a way for gifting that would directly help the Aristotle Fund Student Managers, I also realized it would take a very large contribution to get it initially funded. Thanks to this gift from Mike, we now have a significant start to grow an endowment.
Many of you know I have been interested in funding trips to investment conferences and company meetings, which we have accomplished only some of the years of the Fund’s existence. Through Mike’s very generous gift, this endowment helps move the Aristotle Fund towards having the funding needed every year to provide this opportunity for all student managers. As the scholarship value grows over time, from both investment performance and additional gifts, the amount of money available for the activity budget of the Aristotle Fund will also grow.
Additional contributions will help this scholarship grow. I am proud to say I was the first person to make an additional contribution to the scholarship. Any size contribution made to the scholarship will directly benefit the Aristotle Fund.
If you would like to make a charitable contribution directed for the Aristotle Fund, use the link below to enter your personal information and then press “continue”. You will then see the option for the Aristotle Fund Scholarship under my name in the list of “Other Gift Areas”. It should automatically be selected if you use the link below.
Finally, I am very thankful to Mike and to all of you for helping to make the Aristotle Fund a fabulous educational experience for graduate students at UST. If you have a Tuesday night free, please feel free to drop in on the Fund to share your wisdom and experience!
Mary Schmid Daugherty CFA, PhD
Program Director for the Aristotle Fund