Phelps-Stokes Fund.—The endowment of the Phelps-Stokes Fund is approximately $1,000,000. Over half of the income has been spent to maintain several projects pertaining to Negro education. The more important of these are:
1. Cooperation with the United States Bureau of Education in preparing a comprehensive report on Negro education.
2. The establishment of fellowships at the University of Virginia and the University of Georgia. Twelve thousand five hundred dollars is given each of these universities for the permanent endowment of a research fellowship on the following conditions:
The university shall appoint annually a fellow in sociology for the study of the Negro. He shall pursue advanced studies under the direction of the department of sociology, economics, education, or history, as may be determined in each case by the president. The fellowship shall yield $500, and shall, after four years, be restricted to graduate students.
Each fellow shall prepare a paper or thesis embodying the result of his investigations, which shall be published by the university with assistance from the income of the fund.
3. The establishment of a fund at the Peabody College for teachers, Nashville, Tenn., in accordance with the following vote:
Voted, that $10,000 be given to the Peabody College for Teachers to establish a fund for the visitation of Negro schools and colleges, the income to be used to enable the teachers, administrative officers, and students of the Peabody College to come into direct and helpful contact with the actual work of representative institutions of Negro education.
4. Assistance to the Southern University Race Commission by an annual appropriation for traveling expenses.
5. Appropriations for constructive movements, such as the teaching of home and school gardening, the educational use of school dormitory and dining room, the installation of adequate financial and school records, and the dissemination of advice on the construction and care of buildings and grounds.
Rosenwald Fund.—In 1914, Julius Rosenwald, of Chicago, announced through Tuskegee Institute that he would give money to assist in the erection of rural school buildings for Negroes in the South. According to the terms of the announcement, Mr. Rosenwald agreed to give any rural community a sum not exceeding $300 for the erection of a school building for Negroes, provided the people of the community should raise from public funds or from their own resources a sum equal to that given by him. It was further specified that total sums in each case must be sufficient to erect and furnish one school building.