I predict that this program is at the top of the list of cuts. There are six fellows and they receive a stipend of around $35,000 per year plus (I think) benefits. Throw in auxiliary expenses, and the total bill is over $200,000.
UPDATE: Thanks to Jeff for providing a link to the program and to JG for the suggestion on numbering. I have created a new category for this discussion: ABCP Items. Previous discussions on the Bolin Fellowships here and here. In the old days, I was against the Bolin because I would rather see the money spent on 1 or two additional permanent members of the faculty. Now, I am against the Bolin because something must be cut.
I do not think that the Bolin is funded via a directed endowment of some sort. (I have certainly never seen a reference to such a gift.) The College could cut the whole thing if it wanted. In previous years (check the documents), awards were made in early March. Have any been made this year?