K-State Sets Record In Giving
KSAL Staff - July 14, 2014 9:10 am
Alumni, friends, parents, faculty, students and corporate partners of Kansas State University made philanthropic gifts and commitments totaling $211 million in the fiscal year that ended June 30, 2014.
This figure sets a record in charitable giving in the 70-year history of the Kansas State University Foundation, surpassing the $200 million mark for the first time. The previous record of $152 million was set last year.
“The generosity of K-State’s alumni and friends is phenomenal,” said retired Gen. Richard Myers, Arlington, Virginia, chairman of the KSU Foundation board of directors. “This achievement is a clear statement of support for the leadership of Kansas State University and its strategic direction. K-State is thriving and the future is very bright.”
“The level of philanthropy we have seen this year will have a huge positive impact on Kansas State University as it strives to become a Top 50 public research university by 2025,” said Fred Cholick, president and CEO of the KSU Foundation. “As the fundraising arm of the university, the KSU Foundation staff is privileged to work with alumni, friends and corporations who want to make a difference through philanthropy. Their loyalty and dedication is inspirational.”
One of the most important aspects of this year’s results was the $89 million in endowed funds, which is also a record. Endowed funds established this year were primarily for student scholarships, faculty chairs and professorships. Endowed funds provide long-term funding for the purpose they support, and create a legacy for the donor.
“Endowed funds are making a difference today and will continue to advance the university far into the future,” said Kirk Schulz, Kansas State University president. “Because the size of the endowment is directly correlated to the university’s capacity to serve future generations of K-Staters, the endowment is a benchmark toward the goal to become a Top 50 public research university by 2025.”
Of the $211 million total, 63 percent is available for the university’s use immediately, while donors committed 37 percent through pledges and deferred gifts, which will be realized by the university at some point in the future.
“It is an honor to thank the alumni, friends, corporate partners, faculty, staff and students who expressed their support of K-State so generously,” Schulz said.
“Less than 20 percent of the university’s operating budget now comes from the state,” he said. “The remainder of the budget comes from three sources: tuition, grants and contracts, and private philanthropic support given through the KSU Foundation. Charitable gifts have a great impact on students, faculty and facilities at K-State, both immediately and in the future. There is no question that this level of support from the K-State family will advance the university in our quest to be recognized among the nation’s top 50 public research universities.”
Philanthropic contributions to Kansas State University are coordinated by the KSU Foundation. The foundation staff works with university partners to build lifelong relationships with alumni, friends, faculty, staff and students through involvement and investment in the university.
Story by: Julie Lea / Kansas State University