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99-482: It is the adopted favorite number of Pomona College , a liberal arts college in Southern California, whose alumni have added cultural references to it in numerous places, including many Star Trek episodes. 47 is a safe prime , an isolated prime , a highly cototient number , an Eisenstein prime , and a Lucas number . 47 is also a supersingular prime . It is the last consecutive prime number that divides

198-455: A Nobel Prize laureate; National Academies members; and Olympic athletes. The college is a top producer of Fulbright scholars and recipients of other fellowships. Pomona College was established as a coeducational and nonsectarian Christian institution on October 14, 1887, amidst a real estate boom and anticipated population influx precipitated by the arrival of a transcontinental railroad to Southern California . Its founders,

297-458: A consortium of five undergraduate liberal arts colleges ("5Cs")—Pomona, Scripps , Claremont McKenna , Harvey Mudd , and Pitzer —and two graduate schools— Claremont Graduate University and Keck Graduate Institute . All are located in Claremont. Although each member has individual autonomy and a distinct identity, there is substantial collaboration through The Claremont Colleges Services (TCCS),

396-628: A doctorate or other terminal degree in their field. Students and professors often form close relationships, and the college provides faculty with free meals to encourage them to eat with students. Semesters end with a week-long final examination period preceded by two reading days . The college operates several resource centers to help students develop academic skills in quantitative tasks, writing, and foreign languages. More than half of Pomona students conduct research with faculty. The college sponsors an annual Summer Undergraduate Research Program (SURP), in which more than 200 students are paid

495-500: A lifetime annuity in exchange for donating to the college upon their death. The plan's model has since been adopted by many other colleges. Lyon made several progressive decisions relating to civil rights, including supporting Japanese-American students during internment and establishing an exchange program in 1952 with Fisk University , a historically black university in Tennessee. He and dean of women Jean Walton ended

594-705: A "college in a garden" defined by native Southern California vegetation but incorporating global influences in the tradition of the acclimatization movement . President James Blaisdell 's decision to purchase undeveloped land around Pomona while it was still available later gave the college room to grow and found the consortium. Many of the earlier buildings were constructed in the Mission Revival and Spanish Colonial Revival styles, with stucco walls and red terracotta tile roofs. Other and later construction incorporated elements of neoclassical , Victorian , Italian Romanesque , modern , and postmodern styles. As

693-593: A 2017 alumni survey. The college ranked 11th among all U.S. colleges and universities for doctorates awarded to alumni per capita, according to data collected by the National Science Foundation for 2012 to 2021. The top destinations between 2009 and 2018 (in order) were the University of California, Los Angeles ; the University of California, Berkeley ; Harvard University ; the University of Southern California ; and Stanford University . A 2023 analysis of

792-511: A 30% annualized loss that was more than predicted in December 2008. At Stanford University , the endowment was reduced from $ 17 billion to $ 12 billion as of September 2009. Brown University 's endowment fell 27 percent to $ 2.04 billion in the fiscal year that ended June 30, 2009. George Washington University lost 18% in that same fiscal year, down to $ 1.08 billion. In Canada, after the financial crisis in 2008, University of Toronto reported

891-496: A 335-seat thrust stage theater and 125-seat black box theater , among other facilities. The Studio Art Hall garnered national recognition for its steel-frame design when it was completed in 2014. Pomona's main social science and humanities buildings are located west of College Avenue. They include the Carnegie Building, a neoclassical structure built in 1908 as a Carnegie library . Several historic Victorian houses line

990-455: A C average GPA are needed to graduate, along with the requirements of a major, a first-year critical inquiry seminar, at least one course in each of six "breadth of study" areas, proficiency in a foreign language, two physical education courses, a writing-intensive course, a speaking-intensive course, and an "analyzing difference" course (typically examining a type of structural inequality ). Pomona offers 48 majors , most of which also have

1089-448: A building, plot of land or other assets for Muslim religious or charitable purposes with no intention of reclaiming the assets. The donated assets may be held by a charitable trust . Ibn Umar reported, Umar Ibn Al-Khattab got land in Khaybar , so he came to the prophet Muhammad and asked him to advise him about it. The Prophet said, 'If you like, make the property inalienable and give

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1188-461: A capacity of 2,500. Bridges Hall of Music ("Little Bridges") is a concert hall with seating for 550. On the western edge of campus is the Benton Museum of Art , which has a collection of approximately 19,000 items, including Italian Renaissance panel paintings , indigenous American art and artifacts, and American and European prints, drawings, and photographs. The Seaver Theatre Complex has

1287-407: A coordinating entity that manages the central library , campus safety services, health services , and other resources. Overall, the 7Cs have been praised by higher education experts for their close cooperation, although there have been occasional tensions. Pomona is the largest undergraduate and wealthiest member. Pomona is a member of several other consortia of selective colleges, including

1386-642: A corresponding minor . For the 2023 graduation cohort, 21% of students majored in the arts and humanities, 39% in the natural sciences, 24% in the social sciences, and 16% in interdisciplinary fields. 19% of students completed a double major, 29% completed a minor, and 2% completed multiple minors. The college does not permit majoring in pre-professional disciplines such as medicine or law but offers academic advising for those areas and 3‑2 engineering programs with Caltech , Dartmouth , and Washington University . Individually, Pomona offers approximately 650 courses per semester. Additionally, students may take

1485-419: A loss of 31% ($ 545 million) of its previous year-end value in 2009. The loss is attributed to over-investment in hedge funds. Critics like Justice Funders' Dana Kawaoka-Chen call for "redistributing all aspects of well-being, democratizing power, and shifting economic control to communities.". Endowment repatriation refers to campaigns that acknowledge the history of human and natural resource exploitation that

1584-616: A man dies, only three deeds will survive him: continuing alms, profitable knowledge and a child praying for him. The two oldest known waqfiya (deed) documents are from the 9th century, while a third one dates from the early 10th century, all three within the Abbasid Period. The oldest dated waqfiya goes back to 876 CE, concerns a multi-volume Qur'an edition and is held by the Turkish and Islamic Arts Museum in Istanbul . A possibly older waqfiya

1683-583: A mandatory part of a fellowship. A foundation (also a charitable foundation) is a category of nonprofit organization or charitable trust that will typically provide funding and support for other charitable organizations through grants, but may engage directly in charitable activities. Foundations include public charitable foundations, such as community foundations , and private foundations which are typically endowed by an individual or family. The term foundation though may also be used by organizations not involved in public grant-making. A financial endowment

1782-585: A median early career salary of $ 73,700 and a median mid-career salary of $ 146,400, according to 2023 survey data from compensation analytics company PayScale . Pomona ranks among the top producers of recipients of various competitive postgraduate fellowships , including the Churchill Scholarship , Fulbright Program , Goldwater Scholarship , Marshall Scholarship , National Science Foundation graduate research fellowship, and Rhodes Scholarship . Financial endowment A financial endowment

1881-468: A number of restricted endowments that are intended to fund specific areas within the institution. The most common examples are endowed professorships (also known as named chairs), and endowed scholarships or fellowships. The practice of endowing professorships began in the modern European university system in England on September 8, 1502, when Lady Margaret Beaufort , Countess of Richmond and grandmother to

1980-429: A particular subject are common; in some places, a donor could fund a trust exclusively for the support of a pet. Ignoring the restriction is called " invading " the endowment. But change of circumstance or financial duress like bankruptcy can preclude carrying out the donor's intent. A court can alter the use of restricted endowment under a doctrine called cy-près meaning to find an alternative "as near as possible" to

2079-451: A portion of the initial endowment after self-initiated research into the foundation's financial support of Native and Indigenous artists and communities. This results of this research indicated "the inadequacy of philanthropic support for Native arts and artists", related feedback from an unnamed Native leader that "[o]nce [big foundations] put the stuff in place for an Indian program, then it is not usually funded very well. It lasts as long as

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2178-452: A prince or monarch and their role in training government officials made early Mediterranean universities similar to Islamic madrasas , although madrasas were generally smaller, and individual teachers, rather than the madrasa itself, granted the license or degree. Waqf ( Arabic : وَقْف ; [ˈwɑqf] ), also known as 'hubous' (حُبوس) or mortmain property, is a similar concept from Islamic law , which typically involves donating

2277-471: A private prison that was directly contrary to the foundation's mission, they developed and then began to advocate for a four-part ethical framework to endowment investments conceptualized as Human Capital, Natural Capital, Civic Capital, and Financial Capital. Another example is the Ford Foundation 's co-founding of the independent Native Arts and Culture Foundation in 2007. The Ford Foundation provided

2376-655: A prudent spending policy. Endowments are often governed and managed either as a nonprofit corporation , a charitable foundation , or a private foundation that, while serving a good cause, might not qualify as a public charity. In some jurisdictions, it is common for endowed funds to be established as a trust independent of the organizations and the causes the endowment is meant to serve. Institutions that commonly manage endowments include academic institutions (e.g., colleges , universities , and private schools ); cultural institutions (e.g., museums, libraries, and theaters); service organizations (e.g., hospitals, retirement homes;

2475-500: A regional group of Congregationalists , sought to create a "college of the New England type ", emulating the institutions where many of them had been educated. Classes first began at Ayer Cottage , a rental house in Pomona, California , on September 12, 1888, with a permanent campus planned at Piedmont Mesa four miles north of the city. That year, as the real estate bubble burst, making

2574-407: A result, the present campus features a blend of architectural styles. Most buildings are three or fewer stories in height, and are designed to facilitate both indoor and outdoor use. The campus consists of 88 facilities as of 2023 , including 70 addressed buildings. It is bounded by First Street on the south, Mills and Amherst Avenues on the east, Eighth Street on the north, and Harvard Avenue on

2673-543: A secretary; no culprit was ever identified. During the tenure of president David Alexander from 1969 to 1991, Pomona gained increased prominence on the national stage. The endowment increased ten-fold, enabling the construction and renovation of a number of buildings. Several identity-based groups, such as the Pomona College Women's Union (founded in 1984), were established. In the mid-1980s, out-of-state students began to outnumber in-state students. In 1991,

2772-440: A severe financial crisis during its early years, but raised enough money to add several buildings to its campus. Although the first Asian and black students enrolled in 1897 and 1900, respectively, the student body (like most others of the era) remained almost all white throughout this period. In 1905, during president George A. Gates ' tenure, the college acquired a 64-acre (26 ha) parcel of land to its east known as

2871-487: A significant portion of their courses at the other Claremont Colleges, enabling access to approximately 2,700 courses total. The academic calendars and registration procedures across the colleges are synchronized and consolidated, and there are no additional fees for cross-enrollment. Students may also create independent study courses evaluated by faculty mentors. All classes at Pomona are taught by professors (as opposed to teaching assistants ). The average class size

2970-600: A stipend of up to $ 5,600 to conduct research with professors or pursue independent research projects with professorial mentorship. The Pomona College Humanities Studio, established in 2018, supports research in the humanities. Pomona is home to the Pacific Basin Institute, a research institute that studies issues pertaining to the Pacific Rim . The Sontag Center for Collaborative Creativity, colloquially termed "the Hive",

3069-524: A telescope at the Table Mountain Observatory in Big Pines, California . Along the north side of campus are several joint buildings maintained by The Claremont Colleges Services . The Claremont Colleges Library (also known as Honnold/Mudd Library) holds more than 2.7 million items as of 2020 , of which 1.1 million are physical and 1.7 million are digital. The consortium also owns

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3168-428: Is 15; for the fall 2023 semester, 92% of traditional courses had under 30 students, and only two courses had 50 or more students. The college employs 278 faculty members as of the fall 2023 semester, approximately four-fifths of whom are full-time, resulting in a 7∶1 ratio of students to full-time equivalent professors. Among full-time faculty, 36% are members of racial minority groups, 52% are women, and 96% have

3267-591: Is Alexander Hall, the college's central administration building, and the Smith Campus Center (SCC), home to many student services and communal spaces. East of the SCC is the Center for Athletics, Recreation and Wellness (Pomona's primary indoor athletics and recreation facility) and Smiley Hall dormitory, built in 1908. At the intersection of Sixth Street and College Avenue are the college gates, built in 1914, which mark

3366-786: Is a private liberal arts college in Claremont, California . It was established in 1887 by a group of Congregationalists who wanted to recreate a "college of the New England type" in Southern California . In 1925, it became the founding member of the Claremont Colleges consortium of adjacent, affiliated institutions. Pomona is a four-year undergraduate institution that enrolls approximately 1,700 students. It offers 48 majors in liberal arts disciplines and roughly 650 courses, as well as access to more than 2,000 additional courses at

3465-413: Is a legal structure for managing, and in many cases indefinitely perpetuating, a pool of financial , real estate , or other investments for a specific purpose according to the will of its founders and donors . Endowments are often structured so that the inflation-adjusted principal or "corpus" value is kept intact, while a portion of the fund can be (and in some cases must be) spent each year, utilizing

3564-648: Is a papyrus held by the Louvre Museum in Paris , with no written date but considered to be from the mid-9th century. The earliest known waqf in Egypt, founded by financial official Abū Bakr Muḥammad bin Ali al-Madhara'i in 919 (during the Abbasid period ), is a pond called Birkat Ḥabash together with its surrounding orchards, whose revenue was to be used to operate a hydraulic complex and feed

3663-466: Is in Claremont, California , an affluent suburban residential community 35 miles (56 km) east of downtown Los Angeles . It is directly northwest of the Claremont Village (the city's downtown commercial district) and directly south of the other contiguous Claremont Colleges. The area has a Mediterranean climate and consists of a gentle slope from the alluvial fan of San Antonio Creek in

3762-465: Is inherent to many large private funds. Repatriation campaigns ask for private endowments to be returned to the control of the people and communities that have been most affected by labor and environmental exploitation and often offer ethical frameworks for discussing endowment governance and repatriation. Many might say that, by definition, philanthropy is about redistributing resources. Yet to truly embody this principle, philanthropy must move far beyond

3861-516: Is now known as medicine and basic sciences. Today, the University of Glasgow has fifteen Regius Professorships. Private individuals also adopted the practice of endowing professorships. Isaac Newton held the Lucasian Chair of Mathematics at Cambridge beginning in 1669, more recently held by the celebrated physicist Stephen Hawking . In the United States, the endowment is often integral to

3960-530: Is the second wealthiest private foundation , with an endowment of $ 67.3 billion. Most private endowments in the United States are governed by the Uniform Prudent Management of Institutional Funds Act which is based in part on the concept of donor intent that helps define what restrictions are imposed on the principal and earnings of the fund. Endowments in the United States are commonly categorized in one of three ways: All endowments ensure that

4059-403: Is typically overseen by a board of trustees and managed by a trustee or team of professional managers. Typically, the financial operation of the endowment is designed to achieve the stated objectives of the endowment. In the United States, typically 4–6% of the endowment's assets are spent every year to fund operations or capital spending. Any excess earnings are typically reinvested to augment

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4158-651: The Consortium of Liberal Arts Colleges , the Oberlin Group , and the Annapolis Group . The college is accredited by the WASC Senior College and University Commission , which reaffirmed its status in 2021 with particular praise for its diversity initiatives. Pomona has an endowment of $ 2.8 billion as of June 2023 , giving it one of the 10 highest endowments per student of any college or university in

4257-461: The Great Depression as students became unable to afford tuition , and its budget was slashed by a quarter. The college reoriented itself toward wartime activities again during World War II, hosting an Air Force military meteorology program and Army Specialized Training Program courses in engineering and foreign languages. Pomona's longest-serving president, E. Wilson Lyon , guided

4356-507: The Posse Foundation in 2004 and QuestBridge in 2005 ) and committed to meeting the full demonstrated financial need of students through grants rather than loans in 2008. These efforts, combined with Pomona's previously instituted need-blind admission policy, resulted in increased enrollment of low-income and racial minority students. In 2008, it was discovered that Pomona's alma mater may have been originally written to be sung as

4455-507: The Red Cross ); and religious organizations (e.g., churches, synagogues, mosques). Private endowments are some of the wealthiest entities in the world, notably private higher education endowments . Harvard University's endowment (valued at $ 53.2 billion as of June 2021 ) is the largest academic endowment in the world. As of 31 December 2022 , the Bill and Melinda Gates Foundation

4554-608: The Robert J. Bernard Field Station north of Foothill Boulevard. Pomona is governed as a private , nonprofit organization by a board of trustees responsible for overseeing the long-term interests of the college. The board consists of up to 42 members, most of whom are elected by existing members to four-year terms with a term limit of 12 years. It is responsible for hiring the college's president ( G. Gabrielle Starr since 2017 ), approving budgets, setting overarching policies, and various other tasks. The president, in turn, oversees

4653-602: The San Gabriel Mountains to the north. In its early years, Pomona quickly expanded from its initial home in Sumner Hall, constructing several buildings to accommodate its growing enrollment and ambitions. Starting in 1908, development of the campus was guided by master plans from architect Myron Hunt , who envisioned a central quadrangle flanked by buildings connected via visual axes . In 1923, landscape architect Ralph Cornell expanded on Hunt's plans, envisioning

4752-546: The "live hand" of the public as opposed to the "dead hand" of the founders of private foundations. Research published in the American Economic Review indicates that major academic endowments often act in times of economic downturn in a way opposite of the intention of the endowment. This behavior is referred to as endowment hoarding, reflecting the way that economic downturns often lead to endowments decreasing their payouts rather than increasing them to compensate for

4851-564: The 5% payout requirements for grants and distribute ALL of its power and resources. This includes spending down one's endowment, investing in local and regional economic initiatives that build community wealth rather than investing in Wall Street, giving up decision-making power for grants, and, ultimately, turning over assets to community control. After the Heron Foundation's internal audit of its investments in 2011 uncovered an investment in

4950-593: The Claremont Colleges and 265 unique organizations were represented in 9 career fairs. For the 2022 entering class, 96% of students returned for their second year, giving Pomona one of the highest retention rates of any college or university in the U.S. For the 2017 entering class, 71% of students graduated within four years (among the highest rate of any U.S. college or university ) and 93% graduated within six years. Within 10 years, 81% of Pomona graduates attend graduate or professional school, according to

5049-493: The Piedmont campus financially untenable, the college was offered the site of an unfinished hotel (later renamed Sumner Hall ) in the nearby, recently founded town of Claremont . It moved there but kept its name. Trustee Charles B. Sumner led the college during its first years, helping hire its first official president, Cyrus G. Baldwin , in 1890. The first graduating class, in 1894, had 11 members. Pomona suffered through

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5148-542: The Pomona College Internship Program (PCIP), which provides stipends for completing unpaid or underpaid internships during the semester or summer; more than 250 students participate annually. The office connects students with alumni for networking and mentoring via the Sagehen Connect platform. During the 2015‍–‍2016 academic year, 175 employers hosted on-site informational events at

5247-458: The U.S. The college's total assets (including its campus) are valued at $ 3.67 billion. Its operating budget for the 2023‍–‍2024 academic year was $ 259 million, of which roughly half was funded by endowment earnings. In 2022, 43% of the budget was allocated to instruction, 2% to research, 1% to public service, 14% to academic support, 16% to student services, and 25% to institutional support. In 2021, Fitch Ratings gave

5346-431: The United States. An endowed professorship (or endowed chair ) is a position permanently paid for with the revenue from an endowment fund specifically set up for that purpose. To set up an endowed chair generally costs between US$ 1 and $ 5 million at major research universities. Typically, the position is designated to be in a certain department. The donor might be allowed to name the position. Endowed professorships aid

5445-465: The Vietnam War occupied Sumner Hall to obstruct Air Force recruiters in 1968 and forced the cancellation of classes at the end of the spring 1970 semester. The college's ethnic diversity also began to increase, and activists successfully pushed the consortium to establish black and Latino studies programs in 1969. A bomb exploded at the Carnegie Building that February, permanently injuring

5544-509: The Wash. In 1911, as high schools became more common in the region, the college eliminated its preparatory department, which had taught pre-college level courses. The following year, it committed to a liberal arts model , soon after turning its previously separate schools of art and music into departments within the college. In 1914, the Phi Beta Kappa honor society established a chapter at

5643-468: The academic world, and the university can use them to reward its best faculty or to recruit top professors from other institutions. An endowed faculty fellow is a position permanently paid for to recruit and retain new and/or junior (and above) professors who have already demonstrated superior teaching and research. The donor might be allowed to name the faculty fellowship. A faculty fellow appointment cultivates confidence and institutional loyalty, keeping

5742-416: The academic year began and snowballed over time. Notable 47 sightings include the fact that Pomona is located off of exit 47 of Interstate 10 , and the fact that the largest residential building on campus, Mudd-Blaisdell (formally Florence Carrier Blaisdell and Della Mullock Mudd Hall, a title with 47 characters), was completed in 1947 and contains a staircase with 47 balusters . Late rapper Capital Steez

5841-531: The aid of purchased carbon credits by 2030. The Association for the Advancement of Sustainability in Higher Education gave the college a gold rating in its 2018 Sustainable Campus Index. South Campus consists of mostly first-year and second-year housing and academic buildings for the social sciences, arts, and humanities. A row of four residence halls is south of Bonita Avenue, with Frank Dining Hall at

5940-597: The campus is known as the Wash (formally Blanchard Park ), and contains a large grove of coast live oak trees, as well as many of the college's athletics facilities, an outdoor amphitheater , an astronomical observatory, and the Pomona College Organic Farm , an experiment in sustainable agriculture . North Campus was designed by architect Sumner Spaulding , and its initial phase was completed in 1930. It consists primarily of residential buildings for third- and fourth-year students and academic buildings for

6039-505: The college a AAA bond credit rating , its highest rating, reflecting an "extremely strong financial profile". For the 2024‍–‍2025 academic year, Pomona charged a tuition fee of $ 65,000 , with a total estimated on-campus cost of attendance of $ 89,414 . In 2023‍–‍2024, 52% of students received a financial aid package, with an average award of $ 63,044, including 38% of international students, who received an average award of $ 73,927. The college meets

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6138-547: The college converted the dormitory basements used by fraternities into lounges, arguing that this created a more equitable distribution of campus space. The move lowered the profile of Greek life on campus. In the 2000s, under president David W. Oxtoby , Pomona began placing more emphasis on reducing its environmental impact, committing in 2003 to obtaining LEED certifications for new buildings and launching various sustainability initiatives. The college also entered partnerships with several college access groups (including

6237-636: The college founded the Claremont Colleges consortium. Construction of the Clark dormitories on North Campus (then the men's campus) began in 1929, a reflection of president Charles Edmunds ' prioritization of the college's residential life. Edmunds, who had previously served as president of Lingnan University in Guangzhou , China, inspired a growing interest in Asian culture at the college and established its Asian studies program. Pomona's enrollment declined during

6336-427: The college into a large university that could acquire additional resources or remain a small institution capable of providing a more intimate educational experience. Seeking both, he pursued an alternative path inspired by the collegiate university model he observed at Oxford , envisioning a group of independent colleges sharing centralized resources such as a library. On October 14, 1925, Pomona's 38th anniversary,

6435-468: The college through a transformational and turbulent period from 1941 to 1969. The college's enrollment rose above 1,000 following the war, leading to the construction of several residence halls and science facilities. Its endowment grew steadily, due in part to the introduction in 1942 of a deferred giving fundraising scheme pioneered by Allen Hawley called the Pomona Plan, where participants receive

6534-433: The college's general operation, assisted by administrative staff and a faculty cabinet. The college has 880 total employees as of the fall 2022 semester. Pomona operates under a shared governance model, in which faculty and students sit on many policymaking committees and have a degree of control over other major decisions. Pomona is the founding member of the Claremont Colleges (colloquially "7Cs", for "seven colleges"),

6633-402: The college. Daily attendance at chapel was mandated until 1921, and student culture emphasized athletics and academic class rivalries. During World War I, male students were divided into three military companies and a Red Cross unit to assist in the war effort. Confronted with growing demand in the 1920s, Pomona's fourth president, James A. Blaisdell , considered whether to grow

6732-716: The country. It has a $ 2.8 billion endowment as of June 2023 , making it one of the 10 wealthiest schools in the U.S. on a per student basis. Nearly all students live on campus, and the student body is noted for its racial, geographic, and socioeconomic diversity. The college's athletics teams, the Sagehens , compete jointly with Pitzer College in the SCIAC , a Division III conference. Prominent alumni of Pomona include Oscar , Emmy , Grammy , and Tony award winners; U.S. Senators, ambassadors, and other federal officials; Pulitzer Prize recipients; billionaire executives;

6831-449: The dining hall staff voted to unionize in 2013. A rebranding initiative that year sought to emphasize students' passion and drive, angering students who thought it would lead to a more stressful culture. Several protests in the 2010s criticized the college's handling of sexual assault , leading to various reforms. In 2017, G. Gabrielle Starr became Pomona's tenth president; she is the first woman and first African American to hold

6930-717: The donor's intent. The earliest endowed chairs were established by the Roman emperor and Stoic philosopher Marcus Aurelius in Athens in AD 176. Aurelius created one endowed chair for each of the major schools of philosophy : Platonism , Aristotelianism , Stoicism , and Epicureanism . Later, similar endowments were set up in some other major cities of the Empire. The earliest universities were founded in Europe, Asia and Africa. Their endowment by

7029-579: The downturn. Large U.S.-based college and university endowments, which had posted large, highly publicized gains in the 1990s and 2000s, faced significant losses of principal in the 2008 economic downturn . The Harvard University endowment , which held $ 37 billion in June 2008, was reduced to $ 26 billion by mid-2009. Yale University , the pioneer of an approach that involved investing heavily in alternative investments such as real estate and private equity , reported an endowment of $ 16 billion as of September 2009,

7128-403: The eastern end. Sumner Hall, the home of admissions and several other administrative departments, is to the north of the dormitories. Oldenborg Center, a foreign-language housing option that includes a foreign-language dining hall, is across from Sumner. South Campus has several arts buildings and performance venues. Bridges Auditorium ("Big Bridges") is used for concerts and speakers and has

7227-443: The end of apartheid, more than 150 universities divested of South African investments, although it is not clear to what extent this campaign was responsible for ending the policy. A proactive version of divestment campaigns is impact investing, or mission investing which refers to investments "made into companies, organizations, and funds with the intention to generate a measurable, beneficial social or environmental impact alongside

7326-468: The endowment and to compensate for inflation and recessions in future years. This spending figure represents the proportion that historically could be spent without diminishing the principal amount of the endowment fund. The case of Leona Helmsley is often used to illustrate the downsides of the legal concept of donor intent as applied to endowments. In the 2000s, Helmsley bequested a multi-billion dollar trust to "the care and welfare of dogs". This trust

7425-457: The ensemble finale to a student-produced blackface minstrel show performed on campus in 1910. The college stopped singing it at convocation and commencement , alienating some alumni. Pomona requested proof of legal residency from employees amid a unionization drive by dining hall workers in 2011. Seventeen workers who were unable to provide documentation were fired, drawing national media attention and sparking criticism from activists;

7524-426: The financial health of educational institutions. Alumni or friends of institutions sometimes contribute capital to the endowment. The use of endowment funding is strong in the United States and Canada but less commonly found outside of North America, with the exceptions of Cambridge and Oxford universities. Endowment funds have also been created to support secondary and elementary school districts in several states in

7623-471: The full demonstrated need of all admitted students, including international students, through grants rather than loans. It does not offer merit awards or athletic scholarships . Pomona offers instruction in the liberal arts disciplines and awards the Bachelor of Arts degree. The college operates on a semester system , with a normal course load of four full- credit classes per semester. 32 credits and

7722-477: The future king Henry VIII , created the first endowed chairs in divinity at the universities of Oxford ( Lady Margaret Professor of Divinity ) and Cambridge ( Lady Margaret's Professor of Divinity ). Nearly 50 years later, Henry VIII established the Regius Professorships at both universities, this time in five subjects: divinity, civil law, Hebrew, Greek, and physic—the last of those corresponding to what

7821-452: The gender segregation of Pomona's residential life, first with the opening of Frary Dining Hall (then part of the men's campus) to women beginning in 1957 and later with the elimination of parietal rules in the late 1960s and the introduction of co-educational housing in 1968. The student body, influenced by the countercultural revolution , became less socially conservative and more politically engaged in this era. Protesters opposed to

7920-499: The historical northern edge of the campus. They bear two quotes from President Blaisdell. On the north is "let only the eager, thoughtful and reverent enter here", and on the south is "They only are loyal to this college who departing bear their added riches in trust for mankind". Per campus tradition, enrolling students walk south through the gates during orientation and seniors walk north through them shortly before graduation. The less-developed 40-acre (16 ha) eastern portion of

8019-545: The institution competitive over hiring and retention of talents. An endowed scholarship is tuition (and possibly other costs) assistance that is permanently paid for by an organisation or individual with the revenue of an endowment fund specifically set up for that purpose. It can be either merit-based or need-based (the latter is only awarded to those students for whom the college expense would cause their family financial hardship) depending on university policy or donor preferences. Some universities will facilitate donors' meeting

8118-629: The location of the murals Prometheus (1930) by José Clemente Orozco , the first Mexican fresco in the U.S., and Genesis (1960) by Rico Lebrun . The college owns the 53-acre (21 ha) Trails Ends Ranch (a wilderness area in the Webb Canyon north of campus), the 320-acre (130 ha) Mildred Pitt Ranch in southeastern Monterey County , and the Halona Lodge retreat center in Idyllwild, California . The astronomy department built and operates

8217-449: The natural sciences. The academic buildings are located to the west of North College Way. This area includes Dividing the Light (2007), a skyspace by Light and Space artist and alumnus James Turrell . The residence halls include the Clark halls (I, III, and V ) and several more recent constructions. The North Campus dining hall, Frary Dining Hall, features a vaulted ceiling and is

8316-517: The office. From March 2020 through the spring 2021 semester, the college switched to online instruction in response to the COVID-19 pandemic . In April 2024, the college had 19 demonstrators occupying Starr's office to urge the college to divest from Israel arrested. This prompted condemnations and protests , including an encampment on Marston Quad that forced the college to move its commencement off-campus. Pomona's 140-acre (57 ha) campus

8415-555: The order of at least one sporadic group . 47 is the atomic number of silver . After 47 years – 22 synodic periods of 780 days each – Mars returns to the same position among the stars and is in the same relationship to the Earth and Sun. The ancient Mesopotamians discovered this cycle. The number 47 has historical implications to Pomona College , a liberal arts college in Claremont, California , and has been incorporated into various aspects of campus life. The tradition began in

8514-463: The original principal, inflation-adjusted, is held in perpetuity and prudent spending methods should be applied in order to avoid the erosion of corpus over reasonable time frames. Restricted endowments may also facilitate additional donor requirements. An expendable endowment fund is one which can be spent in certain circumstances. Endowment revenue can be restricted by donors to serve many purposes. Endowed professorships or scholarships restricted to

8613-457: The other Claremont Colleges. Its 140-acre (57 ha) campus is in a residential community 35 miles (56 km) east of downtown Los Angeles , near the foothills of the San Gabriel Mountains . Pomona has the lowest acceptance rate of any U.S. liberal arts college as of 2021 and is considered the most prestigious liberal arts college in the American West and one of the most prestigious in

8712-507: The poor. In India, wakfs are relatively common among Muslim communities and are regulated by the Central Wakf Council and governed by Wakf Act 1995 (which superseded Wakf Act 1954). Academic institutions, such as colleges and universities, will frequently control an endowment fund that finances a portion of the operating or capital requirements of the institution. In addition to a general endowment fund, each university may also control

8811-426: The profit from it to charity.'" It goes on to say that Umar gave it away as alms, that the land itself would not be sold, inherited or donated. He gave it away for the poor, the relatives, the slaves, the jihad , the travelers and the guests. And it will not be held against him who administers it if he consumes some of its yield in an appropriate manner or feeds a friend who does not enrich himself by means of it. When

8910-438: The program officer who had an interest and then goes away" and recommended that an independent endowment be established and that "[n]ative leadership is crucial". Another approach to reforming endowments is the use of divestment campaigns to encourage endowments to not hold unethical investments. One of the earliest modern divestment campaigns was Disinvestment from South Africa which was used to protest apartheid policies. By

9009-460: The schools that send the most students per capita to the highest-ranked U.S. medical, business, and law schools placed Pomona 17th for medical schools, 22nd for business schools, and 14th for law schools. The top industries for graduates are technology; education; consulting and professional services; finance; government, law, and politics; arts, entertainment, and media; healthcare and social services; nonprofits; and research. Pomona alumni earn

9108-555: The southern portion of the avenue, including the Queen Anne–style Helen Goodwin Renwick House , which was listed on the National Register of Historic Places in 2016. Marston Quadrangle, a 5-acre (2 ha) lawn framed by California sycamore and coastal redwood trees, serves as a central artery for the campus, anchored by Carnegie on the west and Bridges Auditorium on the east. To its north

9207-399: The students they are helping. The amount that must be donated to start an endowed scholarship can vary greatly. Fellowships are similar, although they are most commonly associated with graduate students. In addition to helping with tuition, they may also include a stipend. Fellowships with a stipend may encourage students to work on a doctorate . Frequently, teaching or working on research is

9306-407: The summer of 1964, when two students, Laurie Mets and Bruce Elgin, conducted a research project seeking to find out whether the number occurs more often in nature than would be expected by chance. They documented various 47 sightings, and professor Donald Bentley produced a false mathematical proof that 47 was equal to all other integers. The number became a meme among the class, which spread once

9405-430: The university by providing a faculty member who does not have to be paid entirely out of the operating budget, allowing the university to either reduce its student-to-faculty ratio, a statistic used for college rankings and other institutional evaluations, or direct money that would otherwise have been spent on salaries toward other university needs. In addition, holding such a professorship is considered to be an honour in

9504-557: The west. It is informally divided into North Campus and South Campus by Sixth Street, with most academic buildings in the western half and a naturalistic area known as the Wash in the east. It has been featured in numerous films and television shows, often standing in for other schools. Pomona has undertaken initiatives to make its campus more sustainable, including requiring that all new construction be built to LEED Gold standards, replacing turf with drought-tolerant landscaping, and committing to achieving carbon neutrality without

9603-698: Was established in 2015 to support creative learning. Approximately half of Pomona students study abroad. As of 2024 , the college offers 68 pre-approved programs in 37 countries. Study-away programs are available for Washington, D.C., Silicon Valley , and the Marine Biological Laboratory in Massachusetts, and semester exchanges are offered at Colby , Spelman , and Swarthmore colleges. The Pomona College Career Development Office (CDO) provides students and alumni with career advising , networking , and other pre-professional opportunities. It runs

9702-530: Was estimated at the time to total 10 times more than the combined 2005 assets of all registered animal-related charities in the United States. In 1914, Frederick Goff sought to eliminate the "dead hand" of organized philanthropy and so created the Cleveland Foundation : the first community foundation . He created a corporately structured foundation that could utilize community gifts in a responsive and need-appropriate manner. Scrutiny and control resided in

9801-455: Was infatuated with the number 47 and what it meant spiritually. He believed the number 47 was the "perfect expression of balance in the world", representing the tension between the heart and the brain (the fourth and seventh chakras, respectively.) The number featured on the cover of AmeriKKKan Korruption , stylized to resemble a swastika. Pomona College Pomona College ( / p ə ˈ m oʊ n ə / pə- MOH -nə )

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