Clemson Renaissance Center - Funding

We prefer to move faster rather than slower. Therefore, we prefer to phase in our involvement in Greenville, renting space initially – with the longer range objective of having a dedicated facility, either a new building or a renovated donated building.

The funding needed to accomplish each of the phases depends upon whether space is donated, leased at an incentive rate, or leased at market rates

We request the assistance of community leaders, our alumni, and the City of Greenville in exploring various options for providing space. Our ability to commit these programs to Greenville is contingent upon support for these facility arrangements and operating funds.

Phase I: 2007

To launch and operate the Renaissance Center for the first five years requires $2 million in operating funds and space for the Center. This does not include funding for the Renaissance Fellows and MBA/MS Fellows. These will be supported by separate sponsors. Of the $2 million Clemson is supplying one million dollars for five years in the form of faculty and staff. The remaining one million is being raised from local firms and individuals who want to make Renaissance happen. Those who commit $200,000 over a five-year period will be named Founders. Those who commit less than $200,000 but as much as $100,000 over five years will be Renaissance Center Investors. Other sponsors will support teams of graduate students who become employed on sponsor-specific research projects. Still others will help support lectures and seminars that will be a part of the Renaissance Center Lecture Series.

Greenville community leaders, our alumni, and the City of Greenville are exploring various options for providing space and financial support. The support our programs earn will determine their scope and extent.

Phase 2: 2008 and Beyond

For the Main Street Initiative to reach its potential as a dynamic and thriving hub for professional masters programs and executive education programs, several lecture halls and meeting rooms will be needed.

Goal: 20,000 sq. ft. by 2015
To increase the involvement of professional masters students (e.g., MBA), additional corporate participation will be necessary – for challenging projects and assistantship funding.

Goal: By 2015, projects and funding to support 50 graduate students ($650,000 per year in corporate support).

Ongoing base-level financial support for administration and operating expenses, $600,000 per year, plus rent.

Annual Funding Required for Programs & Operations Not Including Rent & Facility Charges (2007 - 2012)

 
Year 1
Year 2
Year 3
Year 4
Year 5
5 Year Total
Renaissance Fellows ($000)
240
240
480
480
480
$1,920
MBA Assistantships ($000)
50
100
150
200
200
$700
Base Funding for faculty, staff and supplies
200
200
200
200
200
$1.000
Total
490
540
830
880
880
$3,620