STROUPS ENDOW `FUND FOR EXCELLENCE'

Southeast Missouri State University President Kala Stroup doesn't just ask others to invest in the institution. She gives herself.

A $25,000 gift to the Southeast Missouri University Foundation's capital campaign from Stroup and her husband, Joe Stroup, to provide venture capital for "creative academic initiatives" was announced Tuesday by Don Ford, the university's director of development.

Ford said the "Kala and Joe Stroup Endowment Fund for Excellence" is an undesignated, flexible gift, which the donors hope will provide faculty and staff of the university with "seed money" for creative projects and ideas contributing to the excellence of the institution.

"In private enterprise," he said, "one of the most difficult problems facing an entrepreneur is finding a source of capital to start an imaginative new venture, even if the project has the potential of making a large profit in the long run. Investors tend to want to invest in a sure thing rather than an unproven idea.

"President Stroup and Mr. Stroup have recognized that it is often equally difficult for someone in the academic environment with a creative new idea to obtain startup funds," Ford said. "Providing those funds is the purpose of the Stroups' endowment fund for excellence."

Ford said the major gift is an indication of Kala Stroup's long-term commitment to Southeast and a personal statement of belief in the quality and creative abilities of the university's faculty and staff.

The Stroups indicated they want a minimum of red tape associated with applying for funds from the endowment. "This will be as simple as sending a memorandum outlining the idea, describing its potential for growth and development if startup funds are made available, and explaining how much money is needed for what purpose," President Stroup said. "If endowment income is available and the idea seems feasible, the grant will be provided.

"The ability to change and adapt and be creative is important to a dynamic university," Stroup continued, "but because we are a state agency we have limited resources to try out creative ideas. Joe and I see the endowment fund for excellence as a small contribution toward meeting this need in the academic setting."

Stroup explained that a small investment to get a creative academic initiative started a pilot project, for example can sometimes lead to major funding by a large, private foundation or by state or federal agencies. "We hope this fund will be a catalyst for a success story of that nature," Stroup said.

"The theme, `A New Vision of Excellence,' drove the capital campaign," she concluded, "and we believe there is no better way to contribute to the bright, positive future of a fine institution than by enabling the establishment of a bank for enterprising ideas by the most creative minds at the university."