Mangilao, Guam – August 7, 2024 – Through a series of substantial financial commitments totaling $3.9 million, the University of Guam Endowment Foundation has played a pivotal role in advancing the University of Guam campus development initiatives.
In 2014, the Endowment Foundation facilitated a crucial step by submitting a $21.7 million loan application to the United States Department of Agriculture-Rural Development (USDA-RD) agency on behalf of the University of Guam, earmarked for the construction of the Dr. Lucio C. Tan Student Success Center (SSC) and the School of Engineering (SENG) building. This initiative marked the beginning of a collaborative effort to bolster UOG’s educational facilities.
Throughout the years, UOGEF has continued to demonstrate its continuous support for the university’s infrastructure projects, helping to offset the rising costs of construction materials. In June 2021, the foundation allocated $700,000 towards the $2.3 million cash reserve requirement associated with the USDA-RD construction loan, solidifying its commitment to UOG’s expansion plans.
Recognizing the challenges posed by fluctuating construction costs exacerbated by the post- COVID environment, UOGEF’s Board of Directors (BOD) approved a generous $1 million gift in March 2023. This contribution directly addressed a budget shortfall for two additional building projects being financed by a United States Economic Development Administration grant. These funds will directly support the construction of the Water and Environmental Research Institute (WERI) and the Margaret Perez Hattori Uchima School of Health Nursing Annex, ensuring these critical projects remain on track. Additionally, UOGEF’s BOD agreed to provide a $709,000 loan to UOG WERI to supplement the required matching contribution of $1,729,510, crucial for securing this federal award.
In September 2023, responding to the evolving needs of UOG, the BOD approved a $1.5 million bridge loan to support the ongoing construction of the Dr. Lucio C. Tan Student Success Center and School of Engineering building.
It is important to note that these funds do not go towards UOG’s operational budget, due to the restrictions applied by its donors. This is relevant consideration for the Legislature when approving the full budgetary amount requested by the UOG Administration.
Cumulatively, UOGEF’s financial commitments have exceeded $3.9 million, underscoring its dedication to UOG’s mission of academic excellence and community impact. These funds have been made possible through the generous contributions of businesses and individuals, who have supported UOGEF’s fundraising efforts through the 60th Anniversary Capital Campaign. The foundation continues to offer quality family entertainment through comedy shows, musical concerts, and talent showcases.
This coming September 5th and 7th, the Foundation will continue its fundraising efforts to benefit UOG’s comprehensive capital campaign to support college affordability with two concerts featuring island reggae recording artist Tenelle Luafalemana. One will be a beachside concert and the second will be a VIP acoustic performance. She is best known for her #6 ranked performance during NBC’s 2022 Great American Songwriter contest and her hit songs ”Island King” and “Someone Loves You Honey”. Tickets may be purchased online through Guam Time.
“We are deeply grateful to the UOG Endowment Foundation for their amazing partnership and this substantial contribution, which will have a lasting impact on our campus and community,” said Dr. Anita Borja Enriquez, President of the University of Guam. “This gift projects their commitment to fostering a vibrant learning environment and ensuring that our students have access to state-of-the-art facilities.”
“The UOG Endowment Foundation is proud to support the University of Guam in its mission to provide world-class education and research opportunities,” said Mr. Jesse Leon Guerrero, Chairperson of the UOG Endowment Foundation. “This donation reflects our belief in the university’s vision and our commitment to investing in its future growth and success.”
Once again, the University of Guam Endowment Foundation is proud of its role in providing pivotal financial support towards the construction of four buildings totaling $3.9 million in advancing the University of Guam’s campus development initiatives.
This press release encapsulates the significant contributions of UOGEF to UOG’s campus expansion efforts, highlighting their financial commitments and the transformative impact on students and the community.