Archive for Monday, October 12, 1992

ENDOWMENT REPORTS RECORD YEAR FOR GIFTS

October 12, 1992

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Kansas University Endowment Association trustees met Sunday for the 101st meeting of the association and heard a report of record single-year giving to the association, as well as a final report of the highly successful Campaign Kansas. In addition, new trustees were elected.

A record $31.2 million in cash gifts were received by the association in fiscal year 1992. In fiscal year 1992, which ran July 1, 1991, to June 30, 1992, the association supplied $44.3 million for KU, a 31.7 percent increase over the $33.6 million made available the previous year. The $31.2 million was given by 44,000 alumni and friends.

John T. Stewart III, association chairman, greeted 37 trustees at the annual meeting, called on various committee chairmen to report on their committee activities and presided at the election of six new trustees.

NEW TRUSTEES are Robert Billings, Lawrence; Deanell Tacha, Lawrence, Philip Anschutz, Denver; Robert Driscoll, Kansas City; Dr. John D. Hunkeler, Kansas City; and Charles Oswald, Edina, Minn.

Trustees attending their first meeting were David Dillon, Hutchinson; Drew Jennings, Kansas City; Ned Riss, Kansas City; and Kurt Watson, Wichita.

Jim Martin, association president, making his first annual report since succeeding Todd Seymour who retired from the association earlier this year, said the book value of association assets currently stands at $326.4 million, an increase of $39.8 million over the corresponding period a year ago.

Martin said the current market value of association assets is estimated at $394.9 million. However, he said this is a conservative estimate. He added that the association's endowment, which includes only those funds for which the principal remains intact while the income is available to support the university, has increased to a market value of $270.9 million from $235.1 million in 1991.

MARTIN AND Stewart pointed out the KU Endowment Association now ranks No. 9 among state university-related foundations. Those foundations larger than the KUEA are the University of Texas system, Texas A&M; University system, and the Universities of Virginia, Michigan, Delaware, Ohio State, Cincinnati and Minnesota.

Since the founding of the association in 1891, more than $445.9 million has been provided by the association in direct support to the university.

In the past 10 years, this direct support has totaled $270 million. This fiscal assistance is spread among salaries and services for KU faculty, scholarships and fellowship awards, equipment, student aid and construction and furnishings.

Chancellor Gene Budig thanked the trustees for their support and effective work in helping make Campaign Kansas such a success. But he cautioned there will be continued needs for additional private fiscal support.

HE SAID that because of the success of Campaign Kansas, which raised $265 million in cash and commitments to the association, he is "greatly encouraged about the future of KU and the association." He added, however, the university and association cannot wait another 20 years for another capital campaign. There was a 21-year gap between the start of the $21 million Program for Progress capital campaign in 1966 and the start of Campaign Kansas in 1987.

"There is no choice,'' Budig said, ``if we are to be competitive and if we are to maintain our excellence."

Haines and Stewart were high in their praise of Budig and the role he played in the success of Campaign Kansas.

"No one could have done more or have been more effective, in behalf of Campaign Kansas and the university," Haines said. "He did one hell of a job, and KU forever will be in his debt."

HAINES, WHO is a past chariman and former member of the Kansas Board of Regents, cautioned the trustees "you cannot mandate quality higher education without private financial support." He explained that the manner in which funding for higher education in Kansas is set up, it is highly unlikely KU will receive much more state support, based on a student enrollment count, than the other Kansas state schools. "The difference will be in the degree of private financial support," Haines said.

Others presenting reports at the meeting were: Jordan Haines, Wichita, national chairman of Campaign Kansas; Glee S. Smith, Lawrence, chairman of the association's agricultural committee; Chester Vanatta, Lawrence, chairman of the association's finance committee; John Dicus, Topeka, chairman of the association's nominating committee; William M. Hougland, president of the KU Alumni Association; and Dolph C. Simons Jr., Lawrence, chairman of the association's fund-raising committee.

BUDIG SAID it has been a year of "records" at KU this past year, including records student enrollment, the entrance scores of new students, the number of gifted minority students attending KU, total research dollars awarded to KU, financial assistance to students, fiscal support for the association, institutional endorsements of KU and its academic excellence, hospital revenue at the Kansas University Medical Center, the number of contributors to the KU Endowment Association, the number of KU Alumni Association's paid members and a attendance for Saturday's KU-Kansas State football game.

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