MC3's Permanent Programs provide annual support upon which the College and its members depend. Each year MC3 allocates 5% of the 12-quarter moving average of its endowment value (the endowment reliance) in support of these permanent programs. MC3's long-term goal is to have a permanent endowment that is large enough to support all of its Permanent Programs from this endowment reliance. This will permit annual giving to address annual needs and special projects.
The MC3 endowment is professionally managed. The manager is overseen by the finance committee of the MC3 Board of Directors.
The Americas' Scholar was the first permanent program established by MC3 from its general donor base. The scholarship provides tuition and fee payments for an entire course of study for a graduate student. The selection of a Scholar is at the recommendation of Merton College.
Burwell Grant for Chinese Studies
Clayton L. (Teddy) Burwell, 1932 established a grant for Chinese related studies through a charitable remainder trust. After his passing, this endowment began disbursing grants as appropriate candidates are selected.
John Roberts MC3 Graduate Scholarship
John M. Roberts was Warden of Merton College from 1984 to 1994 and a Fellow of Merton from 1953 to 1979. A Scholarship Fund in his honor is in formation in MC3.
The Simms Family – Thomas Henry Simms (1926), Wilfrid Burgess Simms (1930), Eric Arthur Simms (1939) and Romilly John Simms (1958) – has endowed a bursary fund for junior members who experience unanticipated financial difficulties during the year.
Unrestricted endowment funds are a most welcome gift since they may be allocated to where the need is greatest.