OT: UCONN Foundation on Pace for > $100M This Year

[WestHartHusk]

CT MIRROR is reporting that in fiscal 14-15 Q1 the Foundation is already $8.1m ahead of last years pace, which resulted in a total of $81.1m. If you extrapolate that over four quarters, we are looking at ~$110m towards endowment this year, which is huge towards building our profile, and more importantly capacity, as a university.

http://ctmirror.org/uconn-scholarship-fundraising-takes-a-leap/

 

[Dooley]

OUTSTANDING! If we can all get that endowment to 1/2 Billion by end of 2015, then that will look MUCH better on our CR profile.

 

[CTMike]

Excellent news!

 

[WestHartHusk]

OUTSTANDING! If we can all get that endowment to 1/2 Billion by end of 2015, then that will look MUCH better on our CR profile.

I would think we should be well over 500m by the end of 2015 (which, for UConn, is the end of June).

The last public record I saw was FY 2013 ended with UConn at 357m. We know we raised 81m last years which puts FY 2014 at 438m. And we know that the first quarter of FY '15 brought in about 32m which puts us at a cool 470. If they stay on pace and grab another 90m we are looking at 560m by the end of '15, which is truly impressive (especially when paired with the athletic donations).

 

[specialisthusky]

Can anyone explain to me why endowments are so important? Granted Im happy UConn is growing its as the endowment is low compared to peers and possible future conference mates.

But what purpose does an endowment actually serve?

 

[WestHartHusk]

Can anyone explain to me why endowments are so important? Granted Im happy UConn is growing its as the endowment is low compared to peers and possible future conference mates.

But what purpose does an endowment actually serve?

Endowments spin off earnings (interest, capital appreciation) that allow the university to invest in it's infrastructure, teaching and research. Endowment's also provide significant funding for scholarships, which in turn help to attract top students.

Taken together, endowments allow a university to recruit top professor's and students and house them in state of the art facilities, which in turn is necessary to maintain a vibrant university and to support the state's economy.

Historically, public schools have not needed endowments to the extent of private schools because of government funding. But, those days are coming to an end, so in order for UConn to continue its growth in capacity and reputation, it is going to need donors to step in for the shrinking funding from the state.

 

[Husky25]

Can anyone explain to me why endowments are so important? Granted Im happy UConn is growing its as the endowment is low compared to peers and possible future conference mates.

But what purpose does an endowment actually serve?

Spendable money for research and scholarships. Much of the funds in an endowment are restricted from being spent in any way, shape, or form. On the other hand, the interest earned from the investment vehicles in which the endowment are working is completely unrestricted. The bigger the endowment, the greater the earnings potential. The more unrestricted cash on hand, the greater the volume of scholarships to be offered and research money can be spent.

 

[pj]

Endowments are beloved by administrators because they provide spending money, often with no or minimal strings attached, and financial security. It eases the endless race for funding. For faculty and students, it doesn't change much ... unless you are an elite, powerful academic with close friends in administration.

 

[LIUCHusky]

I would think we should be well over 500m by the end of 2015 (which, for UConn, is the end of June).

The last public record I saw was FY 2013 ended with UConn at 357m. We know we raised 81m last years which puts FY 2014 at 438m. And we know that the first quarter of FY '15 brought in about 32m which puts us at a cool 470. If they stay on pace and grab another 90m we are looking at 560m by the end of '15, which is truly impressive (especially when paired with the athletic donations).

Not every dollar raised goes into the endowment fund. As an example money raised for the basketball facility is included in the fund raising report but that money is already spent. If all of the money raised by the foundation went into the endowment fund, with normal growth the UConn endowment would be well over 1 billion.

 

[Husky25]

Not every dollar raised goes into the endowment fund. As an example money raised for the basketball facility is included in the fund raising report but that money is already spent. If all of the money raised by the foundation went into the endowment fund, with normal growth the UConn endowment would be well over 1 billion.

Not only that, but the Foundation has $$millions in expenses.