Archive for Tuesday, October 1, 2013

Endowment provided nearly $120 million to KU in 2013

October 1, 2013, 10:17 a.m. Updated October 1, 2013, 6:58 p.m.

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The Kansas University Endowment announced Tuesday that it provided $119.4 million to Kansas University for fiscal year 2013, which ended June 30. That is up slightly over last year’s $119.3 million.

Most of the money came from funds earmarked by donors for specific university functions, with only about $5 million coming from unrestricted funds. Money went to support student scholarships and fellowships, faculty salaries and professorships, academic programs, research, performances, and library and museum acquisitions, among other activities.

The total funding figure also includes $9.6 million for KU Hospital. That money went toward staff training, facilities, technology and other expenses.

How much support comes from the Endowment every year is determined largely by when school deans and other officials make funding requests from endowment accounts as well as when bill payments come up.

Those requests can fluctuate throughout the year, as can new donations that make additional spending possible. Expenditures for the first quarter of the new fiscal year are already up 19 percent over the same period in 2013, said KU Endowment President Dale Seuferling.

Seuferling said that the Endowment’s objective was to provide a “steady, dependable source of funding for the university” that continues to grow and support university activities year after year.

The nearly $120 million figure announced Tuesday represents income from the KU Endowment’s long-term investment program, meant to support KU indefinitely, as well as expendable gifts that can be tapped any time. The long-term fund earned a 10.9 percent return for fiscal year 2013, putting its market value at $1.29 billion.

Comments

Shardwurm 1 year, 11 months ago

It's never enough is it? We could give KU $100 Billion and they'd still raise tuition 7.3%.

Sean Livingstone 1 year, 11 months ago

The donors normally indicate what and how they want their funds to be used. Most of the funds (if not all) cannot be used towards tuition. In order to assist the students, a significant portions of the fund go towards scholarships and financial assistance. A significant part of the tuition is used towards these scholarships too. Thus desirable and qualified students normally get some kind of scholarships, which means they pay less tuition than their less qualified peers. In addition, the universities do not get money to pay for facilities and buildings, so a lot of these donations go towards the construction and expansion of these facilities. The Kansas government does not provide much for the expansion of KU. The tuition isn't enough to fund many of these projects. The parents and students often complain of poor facilities.. so where's the money coming from? Endowment... take for example, a significant portion of the new engineering buildings come from donations.... very little from tuition. The increase in tuition goes towards the employment of new faculties, and new equipment for new students. The new buildings in engineering cost millions.... you think tuition is enough to pay for all of them? They come from the Fed and donations... that's how all these projects get funded.,

I'm appalled by what I see on comments, how little people know before they make comments. It's just like how people think of Obamacare... you have to read the bills and understand things first before you assume.

Jayhawks64 1 year, 11 months ago

Complain. Complain. Complain. Seems like a pretty positive thing for KU and it has nothing to do with tuition.

Sean Livingstone 1 year, 11 months ago

That's what people do... they don't bother to read and understand and assume they know EVERYTHING. That's how the shutdown happens.... people don't read the details of Obamacare...

yourworstnightmare 1 year, 11 months ago

$130 million to fill 1000 holes in the dyke.

This sounds lie a lot, but most of these expenditures are for very small (< $1million) projects. KU will never move forward until the Endowment tackles some big projects, like new science lab facilities.

Right now, the Endowment is used to fill in maintenance deficiencies caused by lack of state funding.

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