Fannie And John Hertz Foundation

TO IDENTIFY, SUPPORT AND MENTOR THE TOP US PHD STUDENTS IN SCIENCE, MATH AND ENGINEERING

THE FOUNDATION'S LARGEST ANNUAL EXPENSE IS FELLOWS' TUITION AND STIPEND. IN FISCAL YEAR 2022, COMPENSATION PACKAGES TOTALED $1.9M FOR 70 STUDENTS, 43 PERCENT OF TOTAL EXPENSE. THE FOUNDATION'S GOAL IS TO RAISE ENOUGH SUPPORT TO FUND ALL WORTHY CANDIDATES EACH YEAR; HOWEVER, CURRENT RESOURCES ALLOW FOR ONLY ONE-THIRD OF ALL WORTHY CANDIDATES TO RECEIVE A FELLOWSHIP. TO ACHIEVE THIS GOAL, THE HERTZ FOUNDATION BOARD OF DIRECTORS AUTHORIZED A SIGNIFICANT BUDGET INCREASE TO BUILD THE CAPACITY TO MOUNT A SUCCESSFUL NATIONAL FUNDRAISING AND PUBLIC RELATIONS EFFORT. SOME DONORS RESTRICTED THEIR GIFTS FOR THIS PURPOSE. TANGIBLE RESULTS CAME QUICKLY, WITH FISCAL YEARS 2016 -2022 PRODUCING RECORD FUNDRAISING CASH RESULTS FROM $2.3M IN FISCAL YEAR 2016 TO $9.58M IN FISCAL YEAR 2022. (SEE SCHEDULE O)MOREOVER, ON AVERAGE 28 PERCENT OF FELLOWS NOW MAKE ANNUAL GIFTS TO THE FOUNDATION, A LEVEL OF SUPPORT THAT FAR EXCEEDS GRADUATE SUPPORT TO MOST ELITE RESEARCH UNIVERSITIES. IN FISCAL YEAR 2016, THE BOARD OF DIRECTORS ESTABLISHED A GOAL OF WITHDRAWING 5 PERCENT OR LESS OF THE FOUNDATION'S CORPUS (INCLUDING INVESTMENT INCOME AND GAINS IN VALUE) BY FISCAL YEAR 2020; THIS GOAL WAS ACHIEVED TWO YEARS EARLY IN FISCAL YEAR 2018.

THE FOUNDATION'S TIME-TESTED PROCESS FOR SELECTING FELLOWSHIP RECIPIENTS IS THE MOST RIGOROUS IN THE US. 650 APPLICATIONS WERE RECEIVED AND REVIEWED BY THE SELECTION COMMITTEE, COMPRISED OF THE NATION'S LEADING SCIENTISTS, ENGINEERS, AND MATHEMATICIANS, MANY OF THEM HERTZ FELLOWS. FOLLOWING TWO ROUNDS OF IN-PERSON INTERVIEWS, THE FOUNDATION AWARDS FELLOWSHIPS TO A GROUP OF 12 OR MORE CANDIDATES; MORE IF THE FOUNDATION'S RESOURCES ALLOW. THE PROGRESS OF THE IN-SCHOOL FELLOWS IS MONITORED IN A VARIETY OF WAYS, INCLUDING A REQUIRED ANNUAL MEETING WITH A MEMBER OF THE SENIOR SELECTION COMMITTEE MID-YEAR CHECK-INS WITH STAFF AND INTERVIEWERS, AND COMPLETION OF ANNUAL PROGRESS REPORTS.

THE FOUNDATION PROVIDES A LIFELONG NETWORK TO THE 1200+ FELLOWS, INCLUDING MENTORING, PROFESSIONAL DEVELOPMENT WORKSHOPS, AND COLLABORATION OPPORTUNITIES. THE ANNUAL SUMMER WORKSHOP AND ANNUAL RETREATS HAVE LED TO SIGNIFICANT BREAKTHROUGHS IN RESEARCH, DEVELOPMENT OF GAME-CHANGING TECHNOLOGIES AND NEW CONNECTIONS WITH OTHER TOP SCIENTISTS AND INNOVATORS. THE FOUNDATION ALSO FACILITATES MENTORING RELATIONSHIPS AMONG FELLOWS TO SUPPORT THEIR PROFESSIONAL GROWTH AND WORKS WITH FELLOWS TO BUILD TAILORED INTERNSHIP EXPERIENCES. A LARGE PORTION OF THESE EXPENSES ARE OFFSET BY RESTRICTED GIFTS FROM HERTZ FELLOWS. (SEE SCHEDULE O) THE FOUNDATION HAS ESTABLISHED SEVERAL AWARDS TO HIGHLIGHT EARLY-CAREER FELLOWS WHO ARE MAKING AN ACCELERATED IMPACT WITH THEIR WORK: THE HERTZ DOCTORAL THESIS PRIZE, THE PETER STRAUSS AWARD, AND THE HAROLD NEWMAN AND DAVID GALAS ENTREPRENEURIAL INITIATIVE. THE LATTER TWO ARE FUNDED BY A DONOR. THE SELECTION AND MENTORING OF IN-SCHOOL FELLOWS REPRESENTED 21 PERCENT OF TOTAL EXPENSE. WERE $467,966 (11 PERCENT OF TOTAL EXPENSE).