By Anne Danahy
University Relations
Employees
in the Office of Finance and Business have established an endowment as part
of the Grand Destiny Campaign that will not only recognize the accomplishments
of colleagues, but also distinguishes them as innovative leaders in the University's
fund-raising initiative.
The idea for the endowment came about in part because of frustration that funds to recognize employee success and performance were limited, according to Gary Schultz, senior vice president for finance and business/treasurer. The Office of Finance and Business employs more than 2,300 people across Penn State's 24 locations.
"Over time, the endowment will allow administrators to much better recognize the achievements of employees," said Schultz, one of the founding members of the endowment.
The Finance and Business Employee Recognition Endowment is one facet of a three-pronged effort by the unit to encourage employees to participate in the Grand Destiny Campaign, according to Daniel Sieminski, assistant vice president and Finance and Business's volunteer unit leader for the campaign. The other two areas of focus are the Campus Beautification Fund, which is used for tree, shrubbery, flower and landscaping improvements on Penn State's campuses, and the Steve A. Garban Grant-in-Aid Fund, used to provide financial support to Penn State students who are children of technical service and staff employees.
The heads of Finance and Business's administrative units appreciated the Campus Beautification Fund and the Grant-in-Aid Fund, but also saw a need for employee recognition.
"Considering a way for Finance and Business to reward its employees and to have a positive impact on Penn State at large, we agreed to pool our pledges toward the new endowment," Sieminski said. "We also decided to ask other Finance and Business employees if they wanted to participate. We were pleased with the result."
Among the founding members are: Gary and Karen Schultz, Dan and Roseann Sieminski, Tom Gibson, Deb Meder, Joan Coble, Barry Scerbo, Mary Alice Miller and some employees of the Office of Budget and Resource Analysis, also a part of Finance and Business. So far $43,000 has been pledged, but the endowment remains open to contributions from others.
The endowment will be used to recognize employees in a variety of ways. As the endowment becomes fully funded, ideas will be solicited from the heads of the different administrative units to propose recognition of employees within those units, according to Sieminski. Part of the income from the endowment will go toward employee recognition, with additional appreciation returned to the principal to protect it from inflation.
Finance and Business consists of the following 10 administrative units: Auxiliary Services; Budget and Resource Analysis; Business Services; Corporate Controller's Office; Financial Management; Human Resources; Finance and Business at The Milton S. Hershey Medical Center; Physical Plant; Airport/Commonwealth Operations; and University Police Services.
Office of Finance and Business employees who have questions about the campaign or who wish to contribute to these initiatives, should contact Sieminski at dws8@psu.edu, or the Office of Annual Giving by e-mail at AnnualFund@psu.edu or by telephone at (814) 863-2052.