Update on the Class of 1977 Establishes Elaine Sturges '77 Memorial Scholarship Fund.

January 16, 2014

Ms. Liz Gershon
54 Tomahawk Trail
Sparta, NJ 07871-2905

Dear Mrs. Gershon,

Since its founding, Mount Holyoke has been at the forefront of change, propelled by the loyalty of alumnae and friends who advance the College's mission of educating students at the highest level of academic excellence and preparing them to adapt, evolve, and push themselves to new heights. Your ongoing support of the College through the Elaine Sturges '77 Memorial Scholarship Fund is a tremendous affirmation of this bold vision of the liberal arts, offering vital assistance to the next generation of MHC changemakers.

The Elaine Sturges '77 Memorial Scholarship Fund provides assistance to students like Poorna Swami, '15 from Bangalore, India. She has declared a double major in English and dance-theatre. Poorna left India for the first time when she traveled to South Hadley to attend Mount Holyoke. She reports it has been a dream come true.

Ever since she wa a young girls, Poorna has had a passion for literature. Here at Mount Holyoke, she not only immerses herself in English, but English intermingled with history, politics, film, anthropology, and theatre - a combination only a unique liberal arts curriculum can provide and a combination that nurtures her varied interests in poetry, transnational literature, acting, and modern dance. Her excellence in creative writing has been recognized with numerous awards including the Louise Sproule Prize, the Gertrude Claytor Award of the Academy of American Poets, and the Kathryn McFarland Award. For dance-theatre, her activities include serving as assistant director for the Beckett One Acts, as well as The Mandrake by Machiavelli. She has completed internships working on There There, a play by Kristen Kosmas, and with Palissimo, a dance-theatre company in New York City. This past summer, she returned to New York to help coordinate the La MaMa Moves! Dance Festival. Poorna is now excited to be on her way to the School of Oriental and African Srudies in London for the spring semester to broaden her studies in transnational literature. When asked about her time here at the College, Poorna says, "Each day I spent at Mount Holyoke humbles me and fills me with wonder, excitement, and more importantly, gratitude for being in a community of diverse, intelligent and inspiring people."

The Elaine Sturges '77 Memorial Scholarship Fund has a principal value of $53,335 with a market value of $110,197 (as of June 30, 2013). It is estimated to have $5,595 in income available for fiscal year 2013-2014.

These totals are based on Mount Holyoke's endowment spending rule that calls for distributing between 4.5 percent and 5.5 percent of a twelve-quarter, average market value of the endowment. The twelve-quarter average balances the endowment distribution so that the operating budget is less subject to large swings in endowment valuation. The market value for the Mount Holyoke endowment is at $640 million, as of June 30, 2013.

In prior years, the endowment distribution was based on a twelve-quarter average market value of the endowment - excluding the amount of outstanding debt - in recognition of the fact that debt service payments (principal and interest) were made from endowment. For FY2013, and in the future, the Finance Committee of the Board or Trustees has directed the College to bring debt service into the operating budget. As a result, the spending rule calculation no longer excludes debt from the endowment market value. If you have any questions, I invite you to contact Jan Albano, associate treasurer at jalbano@mtholyoke.edu or 413-538-2704.

Thank to the Elaine Sturges '77 Memorial Scholarship Fund, Mouny Holyoke prepares our students to face the future with confidence. Your support helps keep that legacy alive.

Sincerely yours,

MaryAnne C. Young ‘81
Vice President for Advancement

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