RISE: The Financial View
RISE has the potential to galvanise the support of our community around areas critical to securing Somerville’s future success and prosperity.
People may not realise it, but there is a permanent funding gap in the economic model of an Oxford college. This gap of approximately £5.5m per year exists because the income we receive for tuition fees and accommodation covers only half the cost of providing that teaching and accommodation. Every year, Somerville works proactively to address this deficit through our investments, summer school income and a small portfolio of commercial lets around Somerville. But the final piece in the puzzle is the money we receive in donations and legacies from the Somerville community.
RISE - Somerville College Treasurer Andrew Parker
RISE - Somerville College Treasurer Andrew Parker
There are three distinct ways in which RISE will secure Somerville’s financial future. The first one is to do with sustainability and getting the site to zero carbon, which is a very significant undertaking. The second is the superb opportunity we have to put a building on the site overlooking the ROQ site, including the new Schwarzman Centre for the Humanities. The third area is that RISE will enable us to endow our tutorial fellowships and secure our long-term provision of those subjects.
RISE offers a special opportunity to support Somerville in planning for the future. I hope you can join us.
– Andrew Parker, Treasurer
