Despite economic downturn — and market losses — Kansas university endowments see record donations / LJWorld.com

Archive for Monday, July 6, 2009

Associated Press

July 6, 2009

Topeka — Endowments have taken hits at Kansas' two largest public universities as the stock market faltered, but alumni are keeping their pocketbooks opens.

Officials at the University of Kansas expect to see about a 3 percent increase in endowment commitments and contributions in the fiscal year that ended June 30.

Rosita Elizalde-McCoy, senior vice president of communications and marketing for the KU Endowment Association, said the school raised around $94 million — the largest amount generated in the association's 117-year history.

"We're very gratified with these fundraising results," Elizalde-McCoy said. "We think it shows that even in this significant economic downturn, donors still believe in KU and want it to remain a strong institution."

Kansas State University officials expect to fall only slightly short of the record $99.5 million generated through the KSU Foundation in fiscal 2008.

Julie Lea, vice president of communications, said the school was still anticipating a top-five year in total fundraising, which she called "very heartening."

"I was amazed, frankly," she said. "Who'd have thought in November that we'd be doing this well by March? We're pleased and humbled that people continue to make K-State a priority."

The gifts won't be enough to offset market losses that shrunk the value of both schools' endowments by about 22 percent.

But university officials say students should see little or no changes in the scholarships and aid provided through the endowments.

"Some scholarships have been affected, but most have not" at the University of Kansas, McCoy said. "The overwhelming majority of scholarships will remain intact, and we may even be able to provide a few more."

Lea said some Kansas State donors are contributing extra to ensure that scholarships can be awarded despite the market losses.

"Again," she said, "we've had tremendous response."

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6 July 2009
at 11:40 a.m.

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ReederHawk (Anonymous) says…

For those of you unaware - this article makes it sound like KSU raised more money that KU this past year. This is the KSU myth machine at its best. ku raised 94 million, KSU did not raise or will not raise close to 99.5 million this year - it'll be somewhere in the 60 million dollar range. Generated and raised are two different things - its comparing apples to oranges.

I only point this out because they are good at confusing people about what the facts really are.
6 July 2009
at 5:15 p.m.

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tumbilweed (Anonymous) says…

Economic downtown?
6 July 2009
at 6:36 p.m.

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unelectable (Anonymous) says…

Downturn?