Reply to thread

Message: [QUOTE="Kolumbo, post: 5330493, member: 4613"] This link shows brief descriptions using simple language making it easy for people like me to understand: [URL unfurl="true"]https://www.foundation.uconn.edu/uconn-foundation-endowment/[/URL] [B][COLOR=rgb(40, 50, 78)]Endowment FAQ What is an Endowment and why is it important to the University[/COLOR]?[/B] An endowment is a fund where donor gifts are invested to generate a stream of investment returns to support a particular University purpose in perpetuity. The investments of numerous individual endowment funds are pooled together for the purpose of efficiency, consistency, and economies of scale. The Foundation endowment pool is known formally as the Long-Term Endowment Investment Portfolio but is colloquially referred to as “the Endowment”. Each endowment’s investment income is distributed to support its intended purpose, while the donated principal remains in place permanently and invested to keep pace with the rate of inflation. Endowments are important to the University because they provide a stable and ongoing source of funding to support its students, faculty, and community. [B][COLOR=rgb(40, 50, 78)]What is the current market value of the Endowment? Is this relatively small compared to other public Universities?[/COLOR][/B] As of December 31, 2024, the endowment’s market value stood at $634 million. [I]The endowment is young, about half the age of most peers and close to a century younger than some.[/I] For this reason, we have had half the time for fundraising and half the time of compounding of investment returns. [I]Despite our relative age, the endowment size was recently ranked 71st among 239 public universities and is targeted to grow to over $1 billion under our recently-launched Because of UConn capital campaign.[/I] [COLOR=rgb(40, 50, 78)][B]How does the Endowment grow?[/B][/COLOR] While investment returns are expected to produce nominal growth at or above the rate of inflation, real (inflation-adjusted) growth occurs through active philanthropic fundraising by a professional team of dedicated Huskies in partnership with University leaders, Deans and faculty. [B][COLOR=rgb(40, 50, 78)]How is the UConn Foundation governed and audited?[/COLOR][/B] The UConn Foundation is governed by a Board of Directors that includes independent directors (largely UConn alumni) as well as ex-officio members including the UConn President and other University officials. A Master Agreement between the University and the Foundation details each party’s roles and responsibilities, and each year a Statement of Work (SOW) is prepared to define the goals, objectives and financial considerations. The Foundation Board bylaws, the Master Agreement, and the SOW can be found on our [URL='https://www.foundation.uconn.edu/governance-disclosure/'][U]Governance and Disclosure page[/U][/URL]. The Foundation is required to provide audited financial statements annually to the University, the State of Connecticut, and other parties. Grant Thornton LLC currently provides this audit as well as the Foundation’s annual Form 990 tax returns, both of which can be found on our [URL='https://www.foundation.uconn.edu/financial-information/'][U]Financial Information page[/U][/URL]. [/QUOTE]

Verification: First name of men's bb coach