About us | Division leadership | President’s welcome
Marilyn Stokstad shows her spirit
I thought 2002 was a hard year. Little did I know: That recession seems like a small bump in the road compared to what we’re living through today. No doubt, these are interesting times.
At KU Endowment, our rich history provides perspective as we navigate these stormy seas. Since our founding in 1891 (in the midst of a worldwide depression), we have weathered two world wars, the Great Depression and at least seven recessions. We launched our most recent campaign — KU First — three days before Sept. 11, 2001. Even with that inauspicious beginning, we surpassed our goal, raising more than $650 million for KU.
In light of the current economic slump, we’re evaluating all our processes. What can we do better? What can we cut without compromising our mission? Today’s crisis can teach us new fiscal discipline and improved strategic thinking. But we will never sacrifice our core values: passion for KU, partnership with donors, perpetual support and a peoplecentered approach.
You’re probably aware that our endowment has declined in value, like virtually every endowment in the nation. It’s important to note that we have a long-term perspective and a disciplined approach to investing. Careful planning, we believe, positions us to take advantage of coming investment opportunities.
Because of the decline, we’ve had to inform donors who created endowed funds in recent years that their funds are now “underwater,” meaning that the current market value is below the original value. We can’t make payments to KU from some of these funds without significantly eroding the long-term value.
We’re working individually with these donors to make sure we can fulfill their wishes.
One such donor is KU Distinguished Professor Emerita of Art History Marilyn Stokstad. When Prof. Stokstad learned that a fund she created was underwater, she decided she couldn’t live with that. Her reaction was touching: She added to the fund, restoring it to its original market value. Her generosity ensures that future generations of students can count on steady support from her Spencer Museum of Art student award fund.
In this issue, you will find stories of donors who, like Prof. Stokstad, continue to invest in KU. Perhaps you are one of them, and if so, please accept my heartfelt gratitude. I realize this economy has impacted many of you, and I assure you that your gifts truly make a difference. If you’re unable to make a gift today, I invite you to keep KU in your plans.
I have no doubt that the University of Kansas will play a major role in the economic recovery of our state and region. Here, our state’s brightest minds toil to innovate and discover.
The seeds of a better tomorrow are right here at KU — all they need is our nurture and support.
Dale Seuferling, President
KU Endowment