In May of 2008, Michael Reger, Founder and Board Emeritus of Northern Oil and Gas (NOG), generously donated stock to establish the “Mary Schmid Daugherty Commitment to Student Learning” scholarship. This Fund is allocated into three separate endowments: the Undergraduate Student Learning Scholarship, The Graduate Student Learning Scholarship, and the Aristotle Fund Operating Endowment. The Undergraduate scholarship is distributed annually for the benefit of an undergraduate finance major(s) enrolled in the Aristotle Fund. The Graduate Scholarship is distributed annually for the benefit of graduate student(s) enrolled in the Aristotle Fund. And the Aristotle Fund Operating Endowment helps offset the costs of operating the Aristotle Fund, including the trip to the Berkshire Hathaway meeting every year. The amount of money generated annually by the gift is determined by the 4% spending rule of the endowment and is based on the investment performance of the endowment as a whole. This truly is a gift that keeps on giving.
Needless to say, as an educator, this gift from Michael Reger was a dream come true. While I have wanted to set up a mechanism for alumni to support the program, I also realized it would take a very large contribution to get it initially funded. Thanks to this gift from Mike, we have the ability to continue to direct gifts and grow all three of these scholarships for the benefit of undergraduate and graduate students.
Many of you know I have been interested in funding trips to investment conferences and company meetings. Through Mike’s very generous gift, this endowment provides the funding needed every year to provide this opportunity for all Aristotle Fund 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 make a charitable donation annually to this scholarship. Any size contribution made to the scholarship will directly benefit finance students at the University of St. Thomas. If you would like to make a charitable contribution to one of these three endowments, use the link below.
Mary Schmid Daugherty CFA, Ph.D.
Faculty Director for the Aristotle Fund