Stages of development, and finances
The Center will develop, be successful, and be limited by its financial backing. Financial assets are being sought to establish and carry out the objectives of the Center. Donations can be designated for specific categories, operating expenses and scholarships are in need. Ideally the Center will operate only on interest income from endowment gifts. Currently, three professors at UTEP are involved with geoscience entrepreneurship, Philip C. Godell, Kathrine Giles, and Nick Pingitore.
Dr. Pingitore oversees a large analytical laboratory, and he has wide experience with environmental and geochemical problems. He also has long experience with investment management and has interfaced with numerous companies, to their benefit. He serves on teh Board of Directors for companies and teaches courses on energy and mineral resource investments.
Dr. Giles has wide experience in the petroleum exploration industry, and is adept at helping the industry in their activities. She receives extensive and continuing company support for her research directed to the sub-salt geological environment.
Dr. Philip C. Goodell, the economic geologist at UTEP, carries out Center-like activities with a small fund for economic geology. During 2011-15, ten students have been involved with his ‘program’.
A continuing effort to seek donations from alumni, entrepreneurs, and companies has the goal of paying for operating expenses and expanding the number of students impacted through scholarships, and ultimately funding of chaired professorships. The actual expenditures during the first 16 months of operation are given in the CEGS Report. A total of $30,000 was spent. The license for web courses from EduMine is $3700 per year.
Scholarship funds are not yet available at CEGS. Students costs for a Master's Degree are approximately $35,000 per year, plus tuition of $7000 per year. Some operating costs for CEGS are $15,000 per year. Tuition scholarship $7,000; Guest speaker $500; field trip with 20 students, $5000; one student attendance at a professional meeting $1500; off campus professional short courses and field trips $300-$3000. Costs for an endowed professorship, $3.0M.
The Center accepts donations and ideas.