Record Fundraising Year For UConn: $158 Millions

[UCONNJACK]

UConn raised a record $158 million dollars in past fiscal year. $28 millions for athletics and a single donation of $40 millions for the School of Nursing. The amount raised was a significant increase over previous fiscal year.

UConn Foundation Announces Fourth Consecutive Record-Breaking Year for Fundraising - UConn Today

The largest single gift in UConn’s history is included in the historic $158 million total

today.uconn.edu

 

[mikedog10]

The $40M donation comes from Elisabeth Deluca, the widow of the guy who founded Subway. We gotta get her into the football team!

 

[Palatine]

That is good news. But as usual another article from UConn about the endowment does not include the the amount the endowment has reached. An article by the Daily Campus in March reported the endowment has "hovered over 600 million." That number would be in line with past reporting. But I used to received a quasi UConn annnual report an haven't gotten one in a while. They usually reported the number In June. Does anyone know what the university reported in June 2023? Thanks.

 

[husky8273]

That is good news. But as usual another article from UConn about the endowment does not include the the amount the endowment has reached. An article by the Daily Campus in March reported the endowment has "hovered over 600 million." That number would be in line with past reporting. But I used to received a quasi UConn annnual report an haven't gotten one in a while. They usually reported the number In June. Does anyone know what the university reported in June 2023? Thanks.

see Financial Information - UConn Foundation

 

[gioff2323]

The $40M donation comes from Elisabeth Deluca, the widow of the guy who founded Subway. We gotta get her into the football team!

In that case, I need to delete my post about quality of subway food on another thread

 

[Palatine]

see Financial Information - UConn Foundation

Thank you. According to that the endowment ended 2022 at 594 mllion.

 

[CL82]

Thank you. According to that the endowment ended 2022 at 594 mllion.

What is considered to be a reasonable level of endowment for a school our size. I feel like $1 billion is the target.

 

[LIUCHusky]

What is considered to be a reasonable level of endowment for a school our size. I feel like $1 billion is the target.

Should be much higher than $1 billion.

 

[LoyalFanCT]

The endowment should be tripled in size within five years.

 

[CL82]

Should be much higher than $1 billion.

How much higher?

 

[UCONNJACK]

The $40M donation comes from Elisabeth Deluca, the widow of the guy who founded Subway. We gotta get her into the football team!

The University will probably named the new nursing building that’s scheduled to be completed in 2026 after her.

 

[Palatine]

How much higher?

It should always be rising. Harvard is 50 billion, University of Michigan is 17 billion, University of Virginia is 6 billion, Syracuse is 1.7 billion, Quinnipiac is over 700 million

 

[husky429]

Thank you. According to that the endowment ended 2022 at 594 mllion.

That's pretty abysmal considering the size of the school and our success academically and athletically. Just looking at a list of highest endowments from schools we seem to be compared to...

UMass: 1.1 billion
UMaryland: 1
Cuse: 1.8 (barf)
Delaware: 1.8
Nova: 1.1

And randomly enough, Wesleyan is actually 2nd in the country in endowment per undergrad student, right after Yale #1. Even Quinnipiac has 700 mill like you said. So it's not like it's just a Northeast cultural thing where people don't give to colleges like they do down south.

Time for UConn to step it up on the fundraising front. Football success would probably help a lot with that.

 

[CL82]

It should always be rising. Harvard is 50 billion, University of Michigan is 17 billion, University of Virginia is 6 billion, Syracuse is 1.7 billion, Quinnipiac is over 700 million

It is just stunning to me how much lower than the norm we are, even given the recent increases. I understand the things that created that, but still.

 

[UCONNJACK]

Recent article regarding UConn investment returns.

UConn Endowment Investment Returns Among Top Tier of Higher Education Institutions - UConn Today

A new industry study places UConn in the top 10% of public colleges and universities

today.uconn.edu

 

[PNolanFan]

That's pretty abysmal considering the size of the school and our success academically and athletically. Just looking at a list of highest endowments from schools we seem to be compared to...

UMass: 1.1 billion
UMaryland: 1
Cuse: 1.8 (barf)
Delaware: 1.8
Nova: 1.1

And randomly enough, Wesleyan is actually 2nd in the country in endowment per undergrad student, right after Yale #1. Even Quinnipiac has 700 mill like you said. So it's not like it's just a Northeast cultural thing where people don't give to colleges like they do down south.

Time for UConn to step it up on the fundraising front. Football success would probably help a lot with that.

historically UConn has raised money to be spent not to increase the endowment (I would say this has been a mistake as the endowment can fund a school in perpetuity). I would say that this is something for management to focus on, when you get a 40 million donation, it can go to construction of a building or it can go into the endowment where it generates 4 million dollars for the budget every year forever

 

[husky429]

historically UConn has raised money to be spent not to increase the endowment (I would say this has been a mistake as the endowment can fund a school in perpetuity). I would say that this is something for management to focus on, when you get a 40 million donation, it can go to construction of a building or it can go into the endowment where it generates 4 million dollars for the budget every year forever

Makes sense. I know absolutely nothing about endowments outside of more (usually) means better.

 

[LIUCHusky]

historically UConn has raised money to be spent not to increase the endowment (I would say this has been a mistake as the endowment can fund a school in perpetuity). I would say that this is something for management to focus on, when you get a 40 million donation, it can go to construction of a building or it can go into the endowment where it generates 4 million dollars for the budget every year forever

I doubt it would generate 4 million for the budget each year. I believe they only spend approximately 4% of the endowment value each year not the 10% of the value shown in your example above.

 

[Palatine]

The state funded UConn. The money came from the state budget. That's why they didn't build an endowment. It only when the state couldn't meet the funding requirements of the university that UConn began to create an meaningful endowment.

 

[zls44]

It is a shame the school wasn’t well endowed previously


ba dum cha

 

[CONN78SEJ]

The $40M donation comes from Elisabeth Deluca, the widow of the guy who founded Subway. We gotta get her into the football team!

She just got richer by many many billions of dollars, as of a few days ago. The DeLuca’s and the Bucks family sold out the company.

 

[mikedog10]

The endowment should be tripled in size within five years.

What is this, a school for ants?

 

[LoyalFanCT]

Just take a look at the financial endowments of the Big 10 universities. This is what you need to run a true
research university.

 

[husky8273]

Thank you. According to that the endowment ended 2022 at 594 mllion.

annual totals ($MM):
6/21 - $602
6/20 - $476
6/19 - $462
6/18 - $447
6/17 - $421
6/16 - $377
6/15 - $383

only a portion of the annual giving increases the endowment

 

[husky8273]

I doubt it would generate 4 million for the budget each year. I believe they only spend approximately 4% of the endowment value each year not the 10% of the value shown in your example above.

per the 2022 report:

"The UConn Foundation distributes 4 percent of the rolling, three-year average of quarterly
market values of endowed funds to UConn."