Word: pbh
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...Phillips Brooks House (PBH) Cabinet must cut spending on its 51 programs by nearly 60 percent this year, Van L. Truong '89, the group's president, said yesterday...
...addition to the grants, PBH must continue to pay $76,000 in fixed costs to maintain its building, pay administrative expenses, and conduct its fundraising activities...
Most of the larger PBH committees do extensive fundraising on their own, however. Some, such as the University Lutheran Shelter Program and the Cambridge Youth Enrichment Program, receive government grants as well...
...long-awaited fund drive began last year to replenish the group's endowment, Truong said. PBH hopes to raise $6000,000, which would provide $30,000 of interest annually. Under the terms of the endowment drive, the group may not use the money it raises until 1990. However, he said interest on donated money may be used immediately...
...stretch out the remainder, the PBH cabinet plans to pull only $15,000 from the account and to compensate for the decreased revenue by reducing its program grants, Truong said. He said the cabinet plans to exhaust the fund over the next two years, after which the endowment money will provide income for the association...