Rhode Island and its colleges need matching grant program

Ask University of Rhode Island President Robert L. Carothers to characterize the relationship between the university and the state Legislature and he will tell you that it is a good one. And one, he says, that has improved tremendously over the past decade. But while lawmakers do seem to have a sense of respect and admiration for the work being done at URI and the important role the school plays in the state’s overall economy, it doesn’t translate into the allocation of more money for higher education.



Grappling with a deepening state budget deficit, lawmakers must find where to spend less – not more.



Carothers knows this.

Rhode Island's Market Has Changed. Developers, Builders, Investors and Sellers Must Change With It.

By Emilio DiSpirito IV License Partner | Engel & Völkers Oceanside Leader | The DiSpirito…

Learn More


“I always say to people: ‘It’s not that they’re mad at us up there. It’s that they do not have the money,’” says Carothers. “They’re committed to a whole array of social programs … there’s not much left over for public higher education.”



In fact, URI now gets about 21 percent of its operating budget from the state – a figure that has shrunk over the years. And there is little reason to think that such a trend will reverse itself.



Our state university, Rhode Island College and the Community College of Rhode Island need to become more self-sufficient – and they need to be given the tools necessary to make that happen.



This is precisely why the Senate did the right thing when it overwhelmingly passed a bill (S-2653) that creates a state matching grant program for gifts to URI, RIC and CCRI. The measure has been sponsored for several years by Sen. John C. Revens Jr., a Warwick Democrat. Revens thinks the idea just might have the momentum to become law this year.



He and officials at the schools see it as a way to bolster larger donations – the kind of donations that can be turned into state-of-the-art facilities and programs.



And with so many other states now empowering their colleges and universities with the same kind of program, it becomes an issue of competition.



“Students today are so mobile,” said Revens. “If you want to attract the best students, you have to offer the best programs and the best facilities.”



Robert Beagle is URI’s vice president of university advancement. His business is fund raising. He calls this kind of matching grant program “a powerful incentive for private donors.”



Under the proposed legislation, a $10,000 endowment gift to URI would receive a match and become a $15,000 gift. A $1 million gift would become a $1.5 million gift.



“We don’t see this as a cost to the state,” said Beagle. “Rather, it’s a revenue enhancer. It’s good business for the state to be able to provide resources to three of its primary entities (URI, RIC and CCRI) and have those resources create new monies.”



Connecticut and Massachusetts already have similar programs in place. So do many other states.



We hope the House will follow the Senate’s lead so Rhode Island can compete with its neighbors – and with colleges and universities throughout the country – in securing major investments from donors.



No posts to display