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Archive for Thursday, October 21, 2010

KU Endowment Association’s contributions to KU reach record levels

October 21, 2010

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The Kansas University Endowment Association’s contributions to KU reached record levels this year and were accompanied by gains in the market value of the association’s endowed funds.

KU Endowment provided $115.1 million in support to KU during the fiscal year that ended June 30 — a 9 percent increase over last year — and saw the value of its endowed funds go up 13.8 percent, to $1.05 billion.

The figures were released in connection with the association’s annual meeting this week, and Dale Seuferling, KU Endowment’s president, said he was happy to be able to provide the support to KU, particularly in a difficult economic time.

“I think what we’ve seen in the past year is a great amount of support and enthusiasm for the university’s goals and priorities,” Seuferling said.

The private dollars support a number of different aspects of the university, but are traditionally centered around areas like student scholarships, endowed faculty professorships and construction projects.

The Lied Center, for example, is expanding its lobby this year with private funds.

This year, a large amount of money went to program support, Seuferling said, including efforts like improving KU’s academic programs and library collections, outreach initiatives and lectures for the KU community.

The association’s long-term investment strategy also began to pay off this year, as the value of its endowed funds rebounded after posting a 22 percent loss in the last fiscal year. It ended the 2009 fiscal year at about $960 million.

Now it’s back over $1 billion, and Seuferling said the gains posted allowed the university to continue its support for KU at high levels.

“The numbers kind of speak for themselves,” Seuferling said. “They tell the story.”

The association is scheduled to elect and announce its new slate of officers at its annual meeting on Friday.

Comments

password 4 years, 1 month ago

Andy - you might want to finish that last sentence.... "The association is scheduled to elect and announce its new slate of officers at its annual Friday."

timetospeakup 4 years, 1 month ago

You're neglecting the funds they contributed to back to KU and got spent.

timetospeakup 4 years, 1 month ago

The article says they gave KU $115.1 million last year, which is more like 11%. Add that to your claimed 1.2% and they are doing fine.

riverdrifter 4 years, 1 month ago

LG40 is lucky if his degree is 98.6. His IQ is considerably downhill from there. . .

Rosita McCoy 4 years, 1 month ago

To clarify what the 13.8 percent increase means, that is the increase in the market value of endowed funds, which are invested in perpetuity as part of the Long-term Investment Program. The market value of those funds was $1.05 billion on June 30. In addition to endowed gifts, some donors make spendable gifts, which are for immediate use. The combination of spending from endowed funds and spendable gifts is what amounted to $115.1 million in fiscal year 2010.

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