Stanford University - Quad Yearbook (Palo Alto, CA)

Income from the University endowment and tuition were the main sources of funds to meet the cost of educating a student at Stanford from the founding imtil about 1940. The original quadrangle, supple- mented by a few new buildings over the years, pro- vided an adequate facility for the academic pro- gram. In this period the sources of income met only the minimum needs, provided for limited mainten- ance and repair, and allowed no reserves to be built up for major rehabilitation or replacement. Over the past two decades gifts from Stanford Alumni and friends have provided substantial in- creases in our funds, increases both in endowment income and in funds which can be directly applied to current costs and new building needs. Tuition has been increased but even so covers only about half the cost of a Stanford education. The philan- thropy of Alumni and friends, past and present, makes up the other half. THE SUCCESS OF DEA ELOPME > X efforts, particularly over the last decade, and the need of Stanford for a massive infusion of financial support, are the background of the PACE Program. The new buildings springing up around the campus, the new faces on the faculty, and the air of new confidence in the destiny of Stanford, all bespeak of the enthusiastic support we enjoy from our friends and Alumni in this important development effort. David Packard, Chairman Stanford Board of Trustees Planning and Development Committee