News Releases
10/06/06
More than 41,000 donors helped provide $99 million in support for the University of Kansas in fiscal year 2006 and helped push the university's endowment to more than $1 billion.
During the 2006 fiscal year, which ended June 30, the value of endowed funds reached $1.05 billion, an increase of almost 10 percent over the $954.9 million figure for fiscal year 2005. The total value of KU Endowment's assets, which includes endowed funds and real estate holdings, reached $1.25 billion.
"While reaching the $1 billion mark is a significant milestone, KU Endowment's work is never done," said Dale Seuferling, KU Endowment president. "In a time of increased demands on public funding, support from private donors is critical to helping the university serve students, faculty and the state of Kansas."
KU Endowment, KU's private fund-raising foundation, manages the endowment on behalf of the university. The goal for endowed funds and other long-term investments is to provide a consistent level of support for the university in perpetuity. The foundation's long-term investments gained 13.6 percent in 2006.
Each year KU Endowment transfers investment income from the endowment, along with gifts from donors, to the university to support students, faculty and programs across KU's four campuses. KU Endowment provided $99 million in overall support for KU in 2006, the second-largest total in its history, following last year's record of $103.9 million. The lower total is attributed to fewer needs for construction on KU campuses. Funds for construction decreased from $41.6 million in 2005 to $33.1 million in 2006.
KU Endowment disbursed $26.4 million in student scholarships, fellowships, awards and loans, an increase of about 7 percent over $24.7 million in 2005. Faculty support grew to $16.9 million, an increase of more than 12 percent over $15 million in 2005. Donors also provided support for academic programs, research equipment, university travel, libraries and other projects.
Gifts and pledges totaled $84.9 million, the third highest total in KU Endowment's history. Of the $84.9 million, 62.5 percent came from individuals, and 37.5 percent came from corporations and foundations. Donors hailed from all 50 states, from 26 other countries and from military bases in the United States and abroad.
The KU Endowment Board of Trustees reviewed fiscal year 2006 financial performance, as well as support for KU, at its 115th annual meeting Oct. 6 in Lawrence.
Since its founding in 1891, KU Endowment has provided a total of $1.3 billion in university support.
Return to News Releases