OLLI is self-financed; College provides rooms and some administrative help with finances
The Blog occasionally receives questions about the OLLI program and how it is financed. We asked OLLI officials and they responded as follows:
“OLLI is self-sufficient [and] takes no funds from the College general fund. About one third of [OLLI] funding comes from the endowment (given to the college). [The funds from the endowment are] disbursed annually – the exact amount depends on how the investment has performed the previous year. Two thirds of [OLLI’s] budget comes from [its] membership/class fees.”
[The] “budget pays for 4 part-time staff (less than 20 hours/week) and one full-time staff.”
The college “provides [OLLI] with space to offer classes, and with some degree of administrative support in the sense of handling our money (although [OLLI does its] own financial budget management) and [pays its] staff (using [the OLLI] budget) – all of [OLLI’s} registration (membership) money goes into [OLLI’s] budget held at the college.”
We hope this answers those questions about how OLLI is financed.