Why now?

As we began discussing the Foundation’s Capital Campaign, that was the most common question: “Why now launch an ambitious effort?”

The answer begins with understanding the scope and structure of the Foundation’s portfolio, which is now approaching an accumulative total of $80 million.

First Things First

Several important factors define how these funds can be used.

  • More than half of the Foundation’s assets are in restricted accounts and cannot be used for new programs.
  • When the Foundation was established, many of the Grants-in-Aid were created without minimum funding levels, meaning they were not increased over time by the donor. Today, a $25,000 minimum is required to establish a named Grants-in-Aid.
  • Of the remaining funds, many have fewer restrictions and broader applications, such as the L. Austin Weeks Undergraduate Fund.
  • The AAPG Foundation currently operates with a 4-percent annual spending rate, which governs how funds may be distributed each year.
  • The AAPG Foundation maintains an Operating Fund that covers overhead costs, ensuring 100 percent of donor contributions support the programs and causes they select.

Here’s Why

First, the AAPG Foundation has evolved significantly in recent years.

Under recent leadership and current Trustees, the Foundation has shifted from a “reactive model” to a “proactive model,” seeking to be both relevant to current conditions and impactful to individual grantees.

Historically, the Foundation focused primarily on education and limited research support. Today its mission has expanded to include outreach programs and innovation in earth science.

As a result, the Foundation is now actively searching for opportunities to help based strongly on a “needs basis.”

For example:

  • Regarding research, with the cut in government research funding, the Foundation developed a new grant model called AEGIS (Advanced Energy Geoscience Innovation & Support program) to fund university faculty and graduate students. This year the Foundation awarded eight $100,000 research grants, and the goal is to expand this program next year. The Foundation also is evaluating support for e-publications, such as Search & Discovery, that support geoscience research.
  • For education, the Foundation recognized that students are struggling to afford field camp experiences. Last year, through the Foundation Field Camp Scholarship program, the Foundation awarded 30 grants at $3,000 each, and this year 67 scholarships will be awarded at the same amount (see accompanying story) – yet applications still exceed available funding. The Trustees also are targeting opportunities to support student enrichment programs, which help secure the future geoscience pipeline.
  • The Foundation is expanding its support of outreach programs. For example, the Foundation is a major supporter of programs like Geoscientists Without Borders, and is currently developing a new Scouting America program for geoscience. It also continues to fund Earth Science Week and K-12 geoscience education programs.
  • In addition, we are supporting innovative tools such as Rockd, a mobile app that quickly shows users the surrounding geology and opportunities to look at outcrops and fossils. The Trustees are evaluating opportunities to support other innovative programs.

Second, the Foundation Trustees and staff found that many of the scholarship programs were under-supported, and some funds were stranded due to restrictions that did not change as university programs were modified.

In other words, a scholarship of $500 does not carry the same value it did 20 years ago, so we are modifying our grant program to develop significant grants that are more broadly defined and focus on current needs in geoscience and energy.

Our staff is working hard to improve the Foundation Grants-in-Aid program this year and free-up stranded assets.

Third, more than ever, the impact of Earth science on humanity needs to be recognized. These sciences relate to critical worldwide energy supply in particular sustainable oil and gas reserves plus other major global issues, including CCUS, environment, land use, geohazards, the economy, and national security.

In addition, emerging programs such as critical minerals, geothermal and planetary geology will need support.

This is the most critical point. The mission of the AAPG Foundation is to advance and promote the energy geosciences for the benefit of humanity. The AAPG Foundation is known for its leadership as the world’s leading nonprofit supporter of geoscience. But our work is not done, and the needs continue to grow.

To preserve core geoscience capacity and launch exciting and essential new projects and programs to advance our science, the Foundation must significantly grow its portfolio of gifts and endowments.

With the crisis facing the geosciences today, the Trustees came to an important conclusion: If the AAPG Foundation doesn’t step up, who will?

Now is the moment that matters!