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.