More Information

First, for many alumni their experiences at the University -- whether educational, social, or developmental -- have contributed to their financial and professional success. Donating an hour of time recognizes Rice's contribution to our careers and success, and, at the same time causes us to reflect, for an hour, on the University's impact on our lives.

Second, an hour is a gift measured by time that everyone can participate in regardless of how much they make.

Work an Hour for Rice, is a grass roots idea. It is not sponsored by the University.

As a grass roots campaign it works only if other alumni like, and support, the idea. The hope is that if you spread the idea to ten people, they will spread it to ten more, who will spread it to ten more... Suffice it to say, if you support this idea please let other alumni know about this effort, and ask them to participate.

The student budget for 2006-2007, is $38,914.

Friday, May 11th, is the business day preceding the University's birthday (Sunday, May 13th) and this year's graduation commencement (Saturday, May 12th). Although our goal is to reach at least $25,000 by the end of this year's fiscal year (June 30th), we are trying to reach this amount by Friday, May 11th as a symbolic birthday gift to the University and a graduation present to celebrate the graduation of one more class due to Rice's vision.

Endowing a scholarship requires at least $50,000. See FAQ regarding Centennial Fund Scholarships. As a result, I hope that Work an Hour for Rice generates enough interest and support to reach $50,000 so that we can activate an endowed scholarship.

There is always a chance that we will not reach $50,000 by June 30, 2007 (the end of the University's fiscal year). If we reach $25,000 by June 30, 2007, the money will remain in an inactive endowed undergraduate scholarship account where it will remain through the 2008 fiscal year. During 2008 we can continue to work toward the $50,000 goal. If we reach $50,000 by June 30, 2008, the endowed scholarship will become active.

If we do not reach at least $25,000 by June 30, 2007, and $50,000 by June 30, 2008, the proceeds in the account will be donated to the annual fund and earmarked for undergraduate scholarship. As part of the annual fund all the money collected would be distributed as undergraduate scholarships during the 2008-2009 school year.

One of the key components of William Marsh Rice's vision was a University financially structured for perpetuation. This idea underpins the charter's original restrictions on debt encumbrance, and on using the principal of the endowment.

The goal of Work an Hour for Rice, is for the University to become Rice's vision of an Institute whose entrance fee is intellectual, not financial, capital. Although creating an endowed scholarship is substantially more difficult than directly disbursing a donation, it is the only way of ensuring lasting effect.

Scholarships created with less than $100,000 are need-based; the University does not allow any other restrictions to be placed on how they are awarded.


If Work an Hour for Rice generates $100,000 or more at any point in the future, or if the University allows a restriction to be placed on the scholarship despite the amount of money in the account, the only restriction that will be placed on the scholarship is that it must be awarded as a "moral scholarship."
A "moral scholarship" is one in which the recipient agrees, on their honor, to someday return the financial advantage they receive from a scholarship by providing a similar benefit to another student. This can take the form of a contribution to the endowment from which their scholarship arose, or direct assistance to a worthy student who wishes to attend any institution of higher learning.


How to Contact Me With Ideas


I started this campaign because I am deeply greatful to Rice's vision, and the opportunities that Rice scholarships have opened in my life. I would be very interested in any comments or ideas you might have with regard to furthering this effort and can be reached at olive@alumni.rice.edu or you can leave a note in the guestbook