Fannie and John Hertz Foundation

The largest expense category is the fellowship award which includes tuition and stipend for each student in school. In fy '24, this supported 65 students and represented 54% of the total expense budget. The amount needed for tuition and stipend was lower than anticipated for a very positive reason: many students also won other prizes/awards which replaced the need for support from the Hertz Foundation. Though the recent investment in fundraising has been quick to show success and is growing annually, supporting the Foundation's operations and adding to the endowment for the first time in 20 years. The Foundation does not yet have the endowment level to support 25 new fellowships each year, but is steadily increasing and expanding its donor base to achieve this goal.

Hertz community programming is the third largest expense. Serving all fellows, it has become a much-desired distinction of the Hertz Foundation's offering and unique when compared to offerings from other award programs, professional societies or universities. Volunteer engagement has doubled, as have program offerings. Record number of attendees have been attracted throughout the past year. Some activities have attracted donor support and include special prizes to celebrate the most promising thesis and early breakthrough work of young fellows.

The process to select new fellowship awardees and mentor all in-school fellows is the second largest expense category. The selection process is comprehensive, with 3 stages of intensive review. It is considered the most personalized and rigorous of any award selection process in the u.s.. over 60 volunteers are trained and intimately involved in the various stages reviewing materials from approx. 800 applicants and interviewing more than 120 candidates via web conferencing and in-person meetings. Additionally, expanding the pre-professional experience is a top priority in the Foundation's strategic plan. Personalized mentoring matches are increasing as well as monthly discussions facilitated by alumni fellows across the spectrum of organizations,companies, national labs, research & science policy think tanks to provide career exposure and professional guidance.