Any college development office would love to have the kind of year that Kansas State University Foundation reported at the end of their fiscal year (ending June 30, 2017). Gifts and commitments to the foundation reached $152 million.
Fiscal year 2017 was the second most successful year in the university’s fundraising history, according to an article in the Abilene-Reflector Chronicle, “KSU Foundation announces $152M in FY 2017 fundraising.”
Greg Willems, president and CEO of KSU Foundation, commented, “As K-State’s strategic partner for philanthropy, the KSU Foundation inspires and guides philanthropy toward university priorities to boldly advance K-State.”
KSU said that of the $152.6 million raised in fiscal year 2017, donors gave 41% or $61.8 million through endowed gifts, pledges and deferred gifts. This, they say, will ensure the long-term prosperity of the school.
In addition, fiscal year 2017 provided another important first for the university, since the value of its endowment pool went above $500 million in assets for the first time.
KSU said endowment growth is a critical element in its goal of becoming a Top 50 public research university by 2025.
KSU noted some other key philanthropic achievements for the 2017 fiscal year. This included 31 gifts and commitments of $1 million or more, the most $1-million gifts recorded in one year in KSU Foundation history; gift commitments through estate planning, including wills, trusts and annuities, hit an all-time high of $57 million; and endowed gifts and commitments totaled $61.8 million.
The school’s officials explained that endowed gifts create a legacy for the donor—they provide long-term funding for the purpose they support. It can include student scholarships, faculty chairs or professorships.
The Chairman of the KSU Foundation’s board of directors, Rand Berney, noted that the success of the philanthropic momentum over the past decade demonstrates the K-State family’s commitment to the future of the university.
Reference: Abilene-Reflector Chronicle (August 23, 2017) “KSU Foundation announces $152M in FY 2017 fundraising”