Parking lease supports Ohio State's academic mission
In 2012, Ohio State entered a 50-year lease of its parking operations for $483 million. All of the proceeds from this innovative funding strategy have been invested in the university's endowment. Over the 50 years, this unique funding source is expected to provide funding for academic initiatives such as hiring faculty, offering more student scholarships, and supporting the arts and humanities.
Progress to date:
- Through fiscal year 2021, the $483 million infusion into our endowment has generated more than $225 million in distributions for teaching, learning, research, transportation and sustainability.
- Meanwhile, the market value of the endowments has grown by $175 million — to $659 million through March 31, 2022.
- Total value created to date: $322 million.
The 197 Eminence Fellows dating back to 2012-13 academic years are high school valedictorians, national merit scholars, community leaders, entrepreneurs, scholar athletes and represent the top of the incoming class at Ohio State.
More on the Eminence Fellows program
The Eminence Fellows Program cultivates productive relationships between outstanding students and faculty. Students are matched with faculty mentors, and go on to great achievements in their majors like award-winning research on food security, diabetes, immunology, education policy, and more.
Each class of Eminence Fellows collectively chooses a social issue to address and works to develop and implement a creative response. The junior class project in 2019-20, SmileChild, focuses on infant mortality and educating parents and students on the safest ways to care for newborns. The organization is developing an educational curriculum on safe sleeping techniques, proper healthy nutrition, and other necessary practices needed to effectively care for infants which will be distributed and taught at local hospitals and community centers in areas with high rates of infant mortality
Graduate stipends and support
In the past academic year, 17 graduate students received stipends and support covering tuition and fees through parking endowments. This support, which involved a variety of programs, averaged about $48,000 per graduate student.
Students receive support for a variety of research and discovery activities, including grants for research projects, travel assistance to attend conferences and study abroad programs, in programmatic funding.
369 Student Research Grants from FY17-FY21 in amounts up to $4,000
- Two students received support for a summer research experience through the LSAMP (Louis Stokes Alliances for Minority Participation) for $13,583
Travel grants to support student participation in the:
- University of São Paulo Undergraduate Research Symposium (AU18, AU19, AU20; ~20 students)
- Second World Congress (SP19; ~11 students)
- Library Congress (FY-18; 2 students)
- SACNAS Conference (FY18; 2 students).
- There have been no additional Travel Grants awarded temporarily due to COVID.
Support for research programs
- The LSAMP STEM Bridge Program, which provides opportunities for incoming underrepresented minority students
- Research Central & Eastern Europe in Comparative Perspective — Social Sciences in Warsaw study abroad program
The Discovery Themes Initiative connects and builds on expertise across six campuses, 15 colleges, 105 departments, and more than 220 centers and institutes at Ohio State. Interdisciplinary teams of researchers have come together to accelerate new discoveries and translate knowledge into practical solutions for meaningful impact. With an emphasis on data-driven solutions, these efforts are supported by the recently established Translational Data Analytics Institute.
More information is available at discovery.osu.edu.
Home to Ohio State’s Department of Dance; Department of Arts Administration; Education and Policy; Advanced Computing Center for the Arts and Design; Lawrence and Isabel Barnett Center for Integrated Arts and Enterprise; and the Billy Ireland Cartoon Library and Museum. Other distributions are being used to support the continuing enhancement of the Arts District.