Morehead gets $100 million gift...renamed

Colleges and Universities A-Z University of North Carolina - Chapel Hill
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<p>The Morehead Foundation today announced a $100 million dollar gift. From the Morehead website:</p>

<p>"The John Motley Morehead Foundation today announced a gift of $100 million from the Gordon and Mary Cain Foundation of Texas to support and expand the Morehead Scholars Program. The contribution is one of the largest gifts ever to an undergraduate scholarship program. </p>

<p>The Morehead was established in 1951 as the first undergraduate merit scholarship program in the United States. It has evolved into an experiential learning and leadership development program that is unparalleled in the world of higher education.</p>

<p>The contribution from the Cain Foundation will significantly increase the number of full scholarships offered each year to attend the University of North Carolina at Chapel Hill and will expand the Program's international service, study and internship opportunities. Both the Foundation and Scholarship Program will be renamed as Morehead-Cain to honor the Cain investment. </p>

<p>"The similarities in the lives of John Motley Morehead and Gordon Cain are truly remarkable. Both were hard-working men of integrity who found success in the chemical industry, and both recognized the importance of investing in the education of young adults with the talent, commitment and character to make a difference in the world," said Lucy Chatham, chairman of the Morehead Foundation. "This gift offers us a tremendous opportunity to advance the legacies of both men.""</p>

<p>See balance of article:</p>

<p><a href="http://www.themorehead.org/servlets/RouterServlet?handler=News&start=0&act=publicview&id=324%5B/url%5D"&gt;http://www.themorehead.org/servlets/RouterServlet?handler=News&start=0&act=publicview&id=324&lt;/a&gt;&lt;/p>

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<p>eadad: I just heard. You beat me to it here. Wow. That's really something! Great news.</p>

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<p>We just got the email announcing it too. As the parent of a current h.s. junior who's planning to apply next year, I was very excited to read about it. </p>

<p>I'll be interested to see how the application process changes. Perhaps they'll change the number of nominees per school? More OOS schools eligible to nominate? (If some details are in the press release, I didn't see them, because I was unable to open the link in our email or above.)</p>

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<p>The full press release is available on the UNC website and the Morehead website.</p>

<p>It looks like they plan to increase the number of winners to about 75 which is almost double my son's class which was 40. </p>

<p>This is really a tribute to the program and the school and truly amazing since Mr. Cain had no ties to UNC. I'm guessing the development folks at LSU are having to answer some difficult questions today.</p>

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<p>eadad: Wow. I hadn't picked up on the fact that Cain had no UNC ties--which makes this all the more impressive. They must be having a real party over there at the Morehead offices right about now! :) What an amazing gift, and to be able to increase the number of scholars to 75. I don't think they were ever able to do that, at least not for many, many years now. Great news.</p>

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<p>As I wrote in a different post, this is indeed an amazing gift. </p>

<p>One might hope that the gift and renaming allow the scholarship to eliminate one of its most glaring deficiencies, namely the unneccessary elitist restriction imposed on out-of-state candidates that eliminates a substantial number of students because of their school's lack of recognition or ... means.</p>

<p>PS In addition to the question about LSU "losing out" one might wonder if a scholarship duplicating the Morehead at one of the schools from the University of Texas System might not have served a better good.</p>

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<p>eadad: The press release also mentioned expanded summer enrichment opportunities for the scholars as a result of this gift. Any ideas on what that might involve?</p>

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<p>xiggi</p>

<p>There has been a fundamental change in the selection process as of this year. The Morehead Foundation was limited to approximately 150 OOS schools because of the capacity of the committee to read and process applications. I don't know if you've seen the Morehead app but it is longer and far more detailed than any app I've ever seen for any school. Additionally from our experience the committee has such in-depth knowledge of each finalist during the interviews that they have obviously really spent much time getting to know everything they can about them before they meet them, far more than I would guess a normal adcom spends on a given application. </p>

<p>This year they have increased the number of readers and were able to open the process to any school in the US that wanted to apply and could meet certain criteria. The number/ratio of public schools increased dramatically as a result of this and the total number of OOS schools increased by at least 50, maybe more on this first go round. I know that my D's school was informed by us of the change yet took no action to even try to become a nominating school for reasons unclear to me. </p>

<p>I found it interesting that the Cain family selected the Morehead as their benefactor and perhaps it was because the infrastructure was already in place so the impact could not only be more direct but also more immediate. This way all the funds can go to deserving recipients rather than toward creating a whole new foundation and process somewhere else which would take time and divert funding to help build the infrastructure.</p>

<p>The Morehead has really evolved in terms of what it offers etc over the years and today's recipients have far more opportunities than those from 15 years ago. The Jefferson, and others that have been modeled after it still don't offer the array of summer opportunities that the Morehead does nor are they quite as "create your own life" as the Morehead is.</p>

<p>On another note, how are things at CMU? How's the process going for your sis?</p>

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<p>Regarding the immediate impact of the gift, from today's Daily Tar Heel:</p>

<p>"The Morehead Foundation received a $100 million donation, almost doubling the foundation's endowment, officials announced Tuesday.</p>

<p>The gift, given by the Texas-based Cain Foundation, will enable at least 25 more UNC students to receive the prestigious scholarship each year. The foundation and scholarship also have been renamed the Morehead-Cain Foundation and the Morehead-Cain Scholars Program.</p>

<p>"It is the most generous and heartfelt gift," said Lucy Chatham, chairwoman of the combined foundation.</p>

<p>The Morehead scholarship was established in 1951 and covers all tuition, fees and books plus a stipend and laptop for selected students during a four-year period.</p>

<p>Chatham said Mary Cain decided to donate to the Morehead Foundation to continue the legacy of her husband, Gordon, who held similar philosophies to John Motley Morehead. Both put strong emphasis on education and were successful in the chemical industry.</p>

<p>"It brings together the resources of men of similar backgrounds," she said at the announcement.</p>

<p>Fifty students received Morehead scholarships last year, and usually those scholarships are split in half between out-of-state students and in-state students, though residence is not a factor in determining eligibility. The freshman class of fall 2007 will see between 75 and 80 Morehead Scholars.</p>

<p>"I have seen this program change dramatically, but incrementally," said Tim Burnett, vice chairman of the foundation and a 1958 Morehead Scholar. "What this gift does - there's nothing incremental about it. It's transformative."</p>

<p>University administrators and Morehead alumni said the gift will bring a greater pool of talented students to UNC.</p>

<p>"This is going to enable the program to be bigger and better in a sense," said Steve Jones, dean of the Kenan-Flagler Business School and a 1974 Morehead Scholar. "It's very, very rare that you can do both."</p>

<p>Chatham called the Morehead Foundation the "gold standard" of merit-based scholarship programs, and Chancellor James Moeser said it has been an integral part of UNC's history.</p>

<p>"It helped transform the University into a national university," Moeser said, adding that if the Morehead Foundation were the gold standard, "Morehead-Cain becomes the platinum standard."</p>

<p>UNC also is a national leader for need-based aid with Carolina Covenant, which allows low-income students to graduate debt-free.</p>

<p>Morehead scholarship recipients also said they are excited about the donation, saying more students now will be able to have the same positive experiences they've had.</p>

<p>Part of the scholarship program includes participating in an internship each summer, ranging from volunteering to researching.</p>

<p>The internship requirement was announced during Jones' senior year in college. "I wasn't disappointed at all that I was missing it; I was just glad it was happening," he said.</p>

<p>"The reason I came back to the University </p>

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<p>"The Cains' grandson attended UNC, and the family knows Morehead alumni in Houston."
<a href="http://www.charlotte.com/mld/observer/news/local/16710998.htm%5B/url%5D"&gt;http://www.charlotte.com/mld/observer/news/local/16710998.htm&lt;/a&gt;&lt;/p>

<p>"The Cains enjoyed a summer home in Linville, N.C., for many years. They also knew several Morehead alumni in Houston, said Chuck Lovelace, the Morehead Foundation's executive director."
<a href="http://www.newsobserver.com/102/story/543843.html%5B/url%5D"&gt;http://www.newsobserver.com/102/story/543843.html&lt;/a&gt;&lt;/p>

<p>"The Cain Foundation initially approached its counterparts at Morehead to seek help in setting up a similar undergraduate scholarship program. In the end, though, Mary Cain decided to give the money to Morehead, Chatham said."
<a href="http://www.newsobserver.com/102/story/543478.html%5B/url%5D"&gt;http://www.newsobserver.com/102/story/543478.html&lt;/a&gt;&lt;/p>

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<p>"On another note, how are things at CMU? How's the process going for your sis?"</p>

<p>I sent you a PM. My sis got in her first choice school in December.</p>

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<p>eadad: I just wanted to make a response to your comment that, "The Jefferson, and others that have been modeled after it still don't offer the array of summer opportunities that the Morehead does nor are they quite as "create your own life" as the Morehead is." </p>

<p>I know nothing about the Jefferson, but I have to say that the Robertson Scholarship offers amazing summer opportunities (both domestic and abroad), the 3rd summer of which the Scholar creates/designs his or her own exploration summer--which can be anywhere. So I do take issue with your above statement. I do believe that the Morehead and Robertson Scholarships are comparable, especially in terms of opportunities, summer internships, etc. that are offered. Both, of course, are pretty amazing Scholarships. :)</p>

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<p>No, the Robertson summers are nowhere near as flexible as the Morehead. With the Morehead, you can go wherever you want in the world for three summers, with the fourth being an outdoor leadership experience that is also pretty flexible. The Robertson only funds three summers instead of four--you only get your choice of four placements in the United States for the first summer, and three international locations for the second summer. Doesn't really compare to the flexibility of the Morehead.</p>

<p>As for the Jefferson, the summers are even less. The first summer is just a two week seminar on campus. The second is travel study, but only five weeks compared to the Morehead's eight. Those are the only two summers the Jefferson even includes.</p>

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<p>luxlibertas: Both the Morehead and Robertson are unique, I believe, in the summer programs and opportunities they do offer. I'm sure some would find the Robertson summer opportunities more appealing, where UNC and Duke Scholars live and work together for the first two summers (and create their own third "exploration" summer), while others might find the flexibility of the Morehead more appealing. Each program certainly offers wonderful experiences and opportunities for their Scholars.</p>

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<p>jack</p>

<p>By now I had hoped that you knew I wasn't including and still am not including nor being critical of the Robertson in my comments.</p>

<p>You are correct, there are some people who might prefer the more structured summer programs that the Robertson offers. I am also pretty confident that most parents would prefer the structure and group activities of the Robertson. From a personal perspective having my then about to be a sophomore S in a VERY third world country in a group of 6 students (the other five female) from an array of schools for 9 weeks with little-to-no contact was nine weeks of anxiety and bad sleep.</p>

<p>My comments were more global and aimed at the many scholarships that have been patterned after the Morehead, like the Jefferson at UVA and many others that are now out there. To be fair, the Morehead is the oldest and has evolved into what it is today over time; it has not always offered the summer experiences or the array that it currently offers. The other "imitators" do not offer four summers first off and secondly, none are quite as "Teddy Rooseveltian" in their design. The Morehead truly tells the students to "chart their own course and create their own destiny" for the final three summer programs and if they can figure out a way to do it, they can do it.</p>

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<p>hey does anyone know if this 100 million dollars will go to this years scholars, as in increase the number of people who get it for the high school graduation class of 2007? i was OOS and i applied, but was rejected from finalists, is there any possibility that they'd reconsider for those who were rejected for this year's morehead?</p>

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<p>The Morehead-Cain press release said they were going to increase the number of scholars this year to between 70 and 75. Unfortunately I highly doubt that they would re-open the process, especially at this late date. </p>

<p>In the future it may mean more making it to finalist stage, but there have always been 150+ finalists for the 40-50 awards.</p>

<p>Since the number of winners always has been rather fluid (they always have given a range of the number of anticipated annual winners) it just means that more of the people that have made it to finalist status may have a chance at winning. It doesn't guarantee that there will be more winners. For example, if they don't feel that some of the 150 or so finalists would have been winners had there only been 55, they won't award 75 just to offer the award to more students. This will be a way of offering the award in some of the more difficult to eliminate cases.</p>

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<p>Today's Daily Tar Heel offers another perspective on the gift.</p>

<p>"A driving force in merit-based aid, the Morehead Foundation was running low on fuel until a $100 million gift was thrown into its engine.</p>

<p>The donation, a gift from the Gordon and Mary Cain Foundation in Houston, nearly doubles the Morehead's $115 million endowment, which has seen poor returns in recent years.</p>

<p>In 2003, the foundation dipped to its lowest class size with 40 incoming freshmen scholars. There were 42 entering scholars in fall 2004 and fall 2005.</p>

<p>And for the first time in its history, the foundation turned to fundraising to sustain its program.</p>

<p>Backed by the Morehead Scholarship Foundation, created in 2004 to support the Morehead Foundation's programming, the foundation's officials said it would rely mostly on donations in the years to come.</p>

<p>But despite the Cain donation, the foundation will continue its fundraising efforts in order to expand its programing and services for students, said Charles Lovelace, executive director for the Morehead.</p>

<p>Financial help also came in the form of a 2005 N.C. provision allowing out-of-state scholarship recipients to be considered in-state students.</p>

<p>Senate Majority Leader Tony Rand, D-Cumberland, a major supporter of the provision, said the rule should and will remain in effect.</p>

<p>"Just because you have more money, should we charge you more? That doesn't seem right," he said.</p>

<p>Rand, who expressed his desire to help the Morehead during a time of cutbacks, said it is unlikely that the legislature will revisit the issue.</p>

<p>"If you value someone's contribution … you shouldn't make them pay more."</p>

<p>The combination of the state provision and the new funding means that 25 to 30 new students will be added to the 2007 roster of entering Morehead scholars, raising the class size to 75 to 80.</p>

<p>The award covers tuition, fees and books plus a summer stipend and laptop during a four-year period.</p>

<p>Along with the added weight in its pocketbook, the foundation also has adopted a new name and history - and "Uncle Mot" will have to share his lair with Gordon Cain, who died in 2002. </p>

<p>Cain earned his money as a businessman in the chemical and oil businesses. He served as a vice president for Conoco, and in 1982 he founded an investment banking firm, The Sterling Group.</p>

<p>After establishing the Gordon and Mary Cain Foundation in 1988, Cain's money has gone to many educational organizations. Total giving in fiscal year 2005 was $5,632,754, according to tax records.</p>

<p>The Cains first established connections with the Morehead Foundation while spending summers in North Carolina. The couple struck up a friendship with Alan Dickson, the Morehead Foundation's former chairman and its current general counsel.</p>

<p>The Cains approached Dickson about starting up their own merit scholarship program and asked for his assistance, Lovelace said.</p>

<p>Discussion of a large donation to the Morehead began in October.</p>

<p>After an amount was chosen, Morehead officials proposed a name change.</p>

<p>"It was largely because of the similarities between the careers and values of (John Motley Morehead III and Gordon Cain) and because of the significance of the gift," Lovelace said of the name change, adding that he thinks change will help expand the foundation's reach.</p>

<p>While the impact of the Cains' donation will be felt in the years to come, Thomas Cluderay, a senior Morehead scholar majoring in journalism and Latin American studies, said he does not believe the new name will be quickly adopted by alumni.</p>

<p>"I think that it will take a good while for Morehead-Cain to be used in common vernacular of students," he said. "It's a tradition here. The Morehead program has been coveted by many for a long time.</p>

<p>"That said, when it comes to a gift of that size, I think that any changes that need to happen to recognize that kind of philanthropy need to be taken." "</p>