Update on Endowment - up to $390M

[husky8273]

The last figure that I had heard last summer was that it was at $ 330 million, so $ 50 million addition would be correct at $ 380 million.

it is a common misconception that when the Foundation raises funds that they all go to the endowment. The % is published each year but it is far below 100%

 

[uconnphil2016]

It's amazing to me how low UConn's endowment has been all these years.

Seriously. UVM and UMass both have larger endowments than us

 

[CL82]

It's amazing to me how low UConn's endowment has been all these years.

Me too, but when you think about it, a big endowment wasn't needed because UConn has had good state support.

If whomever is managing it is doing a decent job, it should make a jump up shortly.

 

[amory]

we're well endowed












(that's a dick reference)

 

[Drew]

It would appear the hire of the person from Emory has really paid off so far (pun intended)

Do we know what UConn is doing differently now than they did before?

 

[WhartonHusky]

One of the things they are doing differently is prioritizing larger donors. Might sound logical, but previous regime casted a wide net and was content picking up pennies/nickels. The new regime seems to want to concentrate higher up the ladder. Work the whales and hope to get a better return on fundraising "investments".

 

[Da_Aisijimo_Gou]

Me too, but when you think about it, a big endowment wasn't needed because UConn has had good state support.

Relatively recently improved, i.e., really only starting with the UConn 2000 legislation in 1995. Historically, facts make it quite the challenge to suggest let alone believe UConn had good state support.

 

[Palatine]

Today I shared our final fiscal year 2015 fundraising totals with the Foundation Board and University Board of Trustees and I write to share that information with you as well. Thanks to your generosity, we reached a closing total of $77,993,764 in contributions and pledged commitments.


All told, of the $78 million in commitments this past fiscal year, $58 million was designated for current operations and $20 million was earmarked for the endowment. Our total endowment now stands at nearly $390 million.

How does that square with this from the "fact sheet."

The University endowment portfolio gained a healthy 12%for FY 2014, gaining in all quarters and was valued at approximately $402.4 million at fiscal year-end.

It sounds like it went down in 2015?

 

[Palatine]

If you google "UConn endowment," you get a logo and this.

436.9 million USD

 

[LIuconn]

Josh told me part of their strategy is just having UConn staff in different parts of the country - almost like account managers. It's the little things like that that will pay off down the road. Boggles my mind that even the most elementary stuff wasn't happening. Glad it is now, but we're playing catch up

 

[Drew]

Not sure how many others are in a similar boat as me but I'd love to donate to UConn every year- once I pay off my student loans. Until that point my money will be used primarily in support of the athletics teams by traveling to games

 

[Drew]

"A key concern is the size of UConn's endowment, Herbst said. "Our endowment is so tiny," she said compared to many of the university's competitors. UConn's endowment stands at nearly $375 million.

That's nearly $2 billion smaller than the average endowment of the top 20 public universities in the U.S. news ranking.

Herbst noted that scholarships are the "number one priority" for UConn's fundraising arm, the UConn Foundation, but even with a "laser-like focus on that by me and the foundation, it doesn't come close the kind of financial aid we need."

Eighteen months ago, the UConn Foundation, the schools fund-raising arm, publicly launched its $150 million scholarship initiative. The foundation announced last week that it is one-third of the way toward reaching its goal — having raised $54.5 million for student support.

Josh Newton, president and chief executive officer of the UConn Foundation said the need for scholarship money is much greater — raising several hundred million dollars would be better.

"You can't fill that bucket fast enough," he said. "The need for scholarships is significant."

But he said this $150 million five-year initiative— ending in December 2020 — is more ambitious than the previous seven-year scholarship initiative which sought to raise half that amount. He pleased with the progress the drive has made so far.

"I don't want to lose a great student because [he or she] is not getting enough financial aid to come here," Newton said. "We want to make sure that if UConn is your top choice and you get accepted, that you get to come to UConn.""

Quote from: UConn Faces Growing Competition Amid Budget Cuts (rest of article discussed here: UConn Faces Growing Competition Amid Budget Cuts )

good quotes from @J187Money

 

[J187Money]

Not from me...?

@Drew

 

[Drew]

Not from me...?

@Drew

@J187Money I am exhausted and re-read the first post and thought you were signing off your post as Josh Newton. My mistake

 

[J187Money]

@J187Money I am exhausted and re-read the first post and thought you were signing off your post as Josh Newton. My mistake

LOL - all good - I have met Josh a few times, but I'm not him