Alumni, students and faculty of Drexel University’s College of Engineering are extremely grateful for the generosity of Joe Carleone, BS ’68, MS’72, PhD’72. Joe established the Joseph and Shirley Carleone Endowed Fellowship Fund to support graduate students in the College of Engineering. To encourage new donors to establish their own PhD Fellowships, they have generously committed $120,000 to invest in a matching gift fund over the next 2 years.
At Drexel’s College of Engineering, it is a priority to build upon our success in recruiting and retaining the most exceptional PhD candidates, and to increase diversity among their ranks. Our progress has been largely accomplished owing to the generosity of donors who have established PhD Fellowship Funds.
At this seminal moment of change in education and industry, Drexel and our engineering doctoral students need partners and supporters who share our vision, passion and ambitions.
Joseph Carleone has supported doctoral students for more than a decade. Now, he’s looking to get other alumni involved.
The Need for PhD Fellowships
The College of Engineering currently enrolls more than 250 PhD candidates and graduates nearly 50 each year. Support for our PhD Fellows enables us to provide engaging, cutting-edge research opportunities as we recruit and train the next generation of scholars who will engineer change to improve our world.
Many are succeeding at Drexel because of financial support from fellowship funds specifically intended to recruit and retain PhD candidates. While government and foundation sponsored fellowships can provide support, they are competitive, limited and subject to budget cuts and shifting priorities. Our goal is to increase the number of exceptional and high-potential doctoral students who receive fellowship funding, to grow the amount of support per student and to sustain this support and related enrollment over time.
Our goal at the College of Engineering is to provide full financial support on an annual basis.
- To fully fund a PhD fellow at the College of Engineering $28,000 per year is needed.
How the Matching Gift Works
The Carleone Matching Gift Challenge for College of Engineering PhD Fellowships is designed to accelerate the growth of PhD Fellowship funds. Individuals who establish or contribute to College of Engineering PhD Fellowships will qualify for matching funds.
Your generous gift will help Drexel enroll and retain the most talented and ambitious PhD students, increase diversity at the College and build a pipeline of exceptional engineering leaders in academia and industry who are critical for innovation, economic growth and societal impact. Your gift will also support the The Campaign for Drexel.
WHAT GIFTS QUALIFY FOR A CARLEONE MATCH?
- New qualifying cash gifts and pledges made by individual donors designated for support of College of Engineering PhD fellowships
- Requires a minimum gift of $2,500
- Maximum match of $10,000 per individual
- Annual match cap is $10,000; new outright gifts or pledges in subsequent years can be matched up to $10,000 per year
- Payments over $25,000 can be a one-time outright gift or a maximum five-year pledge commitment.
- Gifts must be made by June 30, 2023
ABOUT THE MATCHING GIFT
- 100% match from the Carleone Matching Gift Challenge for every new gift over $2,500 or maximum gift of $10,000 in one year (Note: The annual cap is $10,000; however, a donor can take advantage of the 1:1 match in subsequent years with new outright gifts or pledges.)
- Gifts-in-kind and planned/deferred gifts are not eligible toward meeting the minimum gift amounts required for matching funds.
Matching Gift Examples
The minimum amount required to establish a current-use PhD Fellowship at Drexel University College of Engineering is $28,000. Donors can also contribute to existing endowed PhD Fellowship Funds. The examples below show how donors can maximize the impact of their individual gifts:
- Outright gift to an existing PhD Fellowship of $10,000: Total addition to fellowship = $20,000
- Outright gift of $18,000 receives a match of $10,000: Total fellowship is $28,000.
- Pledge of $25,000 payable over 5 years: Annual 5,000 pledge payment + $10,000 match = $35,000 total fellowship.
Endowed PhD Fellowship Funds
An endowed fellowship can be established with a minimum of $90,000 + Carleone match of $10,000, a total of $100,000. The total amount the student will receive per year from an endowed fellowship is approximately $4,600.
For more information about the match guidelines and how to establish your own fund contact Lauren Anglum at email@example.com or 215-527-3465.