The Higher Education Incentive Endowment Program was established in September 1999 to build partnerships between private business leaders and New Jersey's colleges and universities. Under the program, the state provided matching dollars for significant donations and endowment contributions. The state's institutions of higher education and their students greatly benefitted from this program. Four-year public colleges and universities received a 100% match over 10 years for endowment contributions of at least $1 million, and a 10% match for donations of at least $1 million. Two-year colleges and independent colleges and universities also received benefits for securing significant endowment contributions and donations. Institutions receiving Higher Education Incentive funds earmarked them to help stabilize tuition and provide scholarships, attract talented faculty, and build new classrooms and research facilities.
Funding for this program has been eliminated. NJASCU supports restoring this program with its added benefit of helping public institutions help themselves in fundraising and expanding their endowments.