KU Endowment registers record support
It was a record year for the Kansas University Endowment Association.
At $68.9 million, endowment support for the university in fiscal year 2002 increased 6 percent from the previous record, $65.1 million in 2000.
In addition, donors contributed the second-highest total ever, with $62.1 million.
The news was announced Friday at the 111th annual meeting of the KU Endowment board of trustees.
The KU Endowment’s fiscal year runs from July 1 to June 30.
Support for the university continues to increase in several areas. Student support during the past year grew from $25.4 million in 2001 to $27.2 million in 2002, an increase of 7 percent. Support for faculty and staff rose from $20 million in 2001 to $22.9 million in 2002, a 14.5 percent increase.
Total giving of $62.1 million followed last year’s record of $92 million, which included a $42 million pledge from the Hall Family Foundation.
According to the most recent comparisons, KU Endowment ranks 56th among 610 participating U.S. and Canadian institutions, 18th among state-assisted institutions and fourth among Big 12 universities.
The value of the KU Endowment’s total assets decreased by 7 percent in 2002 from $1.09 billion to $1.02 billion. Officials said the decrease resulted from an overall decline in investment returns consistent with widespread market losses.
Giving to KU First: Invest in Excellence, the comprehensive fund-raising campaign currently under way, has reached $358 million. The campaign goal is $500 million.