October 19, 2001

Contact: John Scarffe, KU Endowment Association, (785) 832-7336.

Gifts to KU Endowment Association reach new record

LAWRENCE -- Donors to the Kansas University Endowment Association increased their giving by 73 percent to $92 million in fiscal year 2001. The news was announced today during the 110th annual meeting of the KU Endowment board of trustees at the endowment association's headquarters on west campus.

The total of $92 million in gift revenue, which exceeds the previous record of $53.3 million in fiscal year 2000, results largely from two factors. First, the majority of a $42 million pledge from the Hall Family Foundation of Kansas City, Mo., was recorded in KU Endowment's audited financial statement as a pledged contribution. The pledge, made in June 2001, is the largest single gift in the history of higher education in Kansas. Second, KU Endowment received several large bequests this past year, totaling $16.7 million, up from $3.4 million in 2000.

KU Endowment expects continued higher levels of giving through its third and largest comprehensive fund-raising campaign, "KU First: Invest in Excellence," which was announced publicly Sept. 7 and 8. Gifts made since June 1998 have been counted toward the campaign goal of $500 million. As of Oct. 19 the total has reached $297 million.

Also in fiscal year 2001, KU Endowment support for university students, faculty, projects and programs totaled $56.6 million. This represents a 5 percent increase over $54.1 million in fiscal year 1999 and a 13 percent decrease from the record $65.1 million in 2000.

The $56.6 million total in 2001 reflects a trend of steadily rising support for programs across the university. The area of student support saw the largest increase in 2001, setting a new record of $25.4 million, a 20 percent increase over $21.2 million in 2000. KU Endowment issued $19.2 million in scholarships, $3.9 million in loans, $1.9 million in fellowships and $420,000 in student awards and prizes. This support directly benefited more than 9,700 students. KU Endowment maintains more than 2,100 funds providing this student support.

In capital projects, expenses fluctuate from year to year depending on construction activity at KU. In 2001, expenses in this area dropped $12.1 million, from $14.5 million to $2.4 million.

With no major projects under way this past year, KU Endowment and the university focused on planning several projects for the coming year. These projects include the Hoglund Brain Imaging Center at the KU Medical Center; a master plan for landscaping the Lawrence campus; an addition to Learned Hall, home of the School of Engineering; the Anderson Family Strength and Conditioning Center for all KU student athletes; a new facility for KANU, the public radio station based at KU; a building for the Dole Institute of Politics; and a facilities expansion at the Edwards Campus in Overland Park.

The market value of KU Endowment's total assets grew to $1.09 billion in fiscal year 2001, a slight increase over $1.07 billion in 2000 and an 11 percent increase over $979 million in 1999. Although investment values declined somewhat as a result of the year's market volatility, significant increases in contributions, pledges receivable and real estate values made up for the investment losses.

The Kansas University Endowment Association is an independent, non-profit organization serving as the official fund-raising and fund-management organization for the University of Kansas. Founded in 1891, KU Endowment is the first foundation of its kind at a U.S. public university and one of the largest.