Kansas University Endowment Association distributed $112.3 million in direct financial support to KU in the 2011 fiscal year, which ended June 30.

The association announced the figures during its 120th annual meeting.

The funds support the university’s four campuses and KU Hospital, and benefit students, programs, research, faculty, facilities and patient care.

The amount was down by a few million dollars from the previous year’s record $115.1 million in philanthropic support.

Dale Seuferling, KUEA president, said the dollars support student scholarships, faculty salaries and other efforts across the university.

“Private support affects and impacts virtually every area of the university,” he said.

The association also announced the market value of its endowed funds had increased by 22.8 percent over the previous year, ending fiscal year 2011 at $1.25 billion. The market value of its total assets — including endowed funds, real estate and special holdings — increased to $1.65 billion, from $1.48 billion the previous year.

“The fiscal year was a good year for the investment income and recovery in the markets,” he said.

Since June 30, however, the market has slumped some, he said.

“We kind of always have to live with corrections to the market,” he said.

KU Endowment is in the silent phase of its comprehensive fundraising campaign, Far Above: The Campaign for Kansas, which is scheduled for a public kickoff in April 2012.

Also at its annual meeting, the board of trustees elected two new members: Beverly J. Gaines, of Fredonia, and Jeff N. Gentry, of Andover.

Gaines graduated from KU in 1970 with a bachelor’s degree in nursing and earned a master’s degree in business management from Friends University in 1989. She is the president of First National Bank in Fredonia.

Gentry graduated from KU in 1983 with a bachelor’s degree in business administration. He is CEO of INVISTA, a Koch Industries subsidiary and an integrated fibers and polymers business.