Endowment Growth Seen as Essential for Long-Term Success
Released September 7, 2011
Storrs, Conn. – The University of Connecticut Foundation, Inc. today announced that it raised more than $50 million in philanthropic support during its fiscal 2011 year to benefit UConn faculty, students and academic programs as part of its ongoing $600 million Our University. Our Moment. fundraising campaign.
The results come at a time of renewed emphasis on private philanthropy and endowment growth at the University of Connecticut. Gifts to endowment were $20.1 million, exceeding the annual goal and representing the second highest amount raised for this purpose since 2001. Currently, the University’s endowment stands at $312.5 million, which is a $49.5 million, or 19 percent, increase over 2010.
President Susan Herbst joined UConn in June 2011 and has made fundraising and endowment two of her top priorities for the institution. In July, she and her husband, Douglas Hughes, announced a family gift of $100,000 to create a scholarship endowment for undergraduates enrolled in the Humanities and Fine Arts.
“It is crucial that we continue to focus on building our endowment because that will provide us with more resources over time and enable us to better endure the ups and downs of the economy,” said President Herbst, while noting that UConn’s endowment is currently the smallest among top-rated public research universities in the country. “We can’t control the impact of the markets on our investment returns, but we must emphasize to our alumni and friends why their support is so important to the future of our academic mission.”
The financial year-end results signal a continuation of growing private support from alumni, friends, corporations and private foundations. In light of declining state funding and budget cuts due to the challenging economic conditions facing the state and the nation, such support is seen as increasingly vital for the University to maintain the quality of its educational, research and public service programs.
The UConn Foundation, the organization designated to solicit and administer private gifts and grants for the University, also announced:
- The total amount of new gifts and commitments raised was $50.6 million. This represents an increase of 11 percent over 2010, and is the highest total since 2008, reversing a two-year decline attributable to the economic recession.
- Of these funds, approximately $4.2 million was designated for faculty support, nearly $8 million for scholarships, $23.5 million for academic programs and $4.8 million for capital improvements. Support for UConn athletics totaled $10.1 million.
- Approximately $9.8 million was designated to support activities at the UConn Health Center in Farmington.
- The number of donor households totaled 28,931, with UConn alumni accounting for nearly 46 percent of the gifts raised.
- The Foundation’s annual giving program, which is largely driven by direct mail solicitation, online donations and a student-run phonathon, generated a record $8.5 million from more than 24,000 donors. That is an increase of 8 percent in dollars when compared to last year.
Significant major gifts in the past year included Dr. Raymond and Beverly Sackler’s support for the Center for Regenerative Engineering at the UConn Health Center, Carole and Ray ’56 ’01H Neag’s donation to create a faculty chair in Educational Psychology in the Neag School of Education, Richard ’56 and Barbara DelFavero’s commitment to establish a faculty chair in Agricultural and Resource Economics, and an anonymous gift to fund a faculty chair in Cyber Physical Systems in the School of Engineering.
In addition, alumnus Charles Zwick ’50 ’51 provided a major contribution to the College of Agriculture and Natural Resources to enhance its internationally renowned Food and Resource Policy Center, and the Bernard Osher Foundation of San Francisco awarded an endowment to support the Osher Lifelong Learning Institute (OLLI) at UConn’s Waterbury campus.
“By any measure this was a very successful fundraising year for the UConn Foundation and the University of Connecticut,” said President John Martin. “To raise more than $50 million in these economic times is a testimony to the dedication of our donors and their appreciation for the value that UConn represents in their own lives, as well as for the future vitality of the state’s workforce and economy.”
ABOUT THE UCONN FOUNDATION
The University of Connecticut Foundation, Inc.'s mission is to solicit, receive and administer gifts and financial resources from private sources for the benefit of all campuses and programs of the University of Connecticut. The Foundation operates exclusively to promote the educational, scientific, cultural and recreational objectives of the University. For more information, please contact the Foundation at (860) 486-5000 or on the web at www.foundation.uconn.edu.
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For more information:
Art Sorrentino
Director of Communications
University of Connecticut Foundation
860.486.6926
Storrs, Conn. -- A highly experienced athletics fundraiser from Iowa State University has been selected to raise funds in support of the University of Connecticut Division of Athletics.
Zachary S. Goines of Ames, Iowa was chosen as the Senior Director of Development, Athletics after a national search process by the Division of Athletics and The University of Connecticut Foundation, Inc.
Goines will be responsible for the strategic development and implementation of a comprehensive fundraising program, reporting to the UConn Foundation, and working closely with administrators, coaches, alumni, and friends of UConn throughout the nation.
While at Iowa State University, Goines raised more than $47 million since 2007, including leading fundraising initiatives for a $20-million football training facility, an $8-million basketball complex and a significant increase in annual gifts to support the school’s athletics programs.
Prior to his experience in Iowa, Goines also held athletics fundraising leadership positions at Marquette University and the University of Miami.
“This is a critical moment for the University as we build the future, and private donors could not be more important or more valued,” notes incoming UConn President Susan Herbst. “Our student-athletes and our coaches bring tremendous glory, attention, and respect to this institution and make us so incredibly proud. They are international ambassadors who exemplify discipline and the highest order of excellence, values shared by this entire community. Zach will work closely with me and with his colleagues across disciplines to make UConn an even stronger, more powerful university.”
Goines joins UConn during a time of tremendous national exposure for its athletics programs.
"In a historic year that has already included a BCS bowl game, a women's basketball Final Four and a men's basketball NCAA Championship, it's a great time to be a Husky. We are excited to welcome Zach to the UConn family. He joins a team of outstanding development professionals who are committed to enhancing the academic and athletic experience for our student-athletes through the support of our dedicated donors," says Jeffrey A. Hathaway, Director of the Division of Athletics. "We thank incoming President Susan Herbst and UConn Foundation President John Martin for their support of this important hire and look forward to having Zach in Storrs."
UConn is in the midst of a $600-million, multi-year fundraising campaign, Our University. Our Moment. The Campaign for UConn. The Division of Athletics has established a goal of $110 million for the campaign, with priorities on scholarship support and facilities improvement, including a new basketball practice facility.
Goines says that he was drawn to UConn because of the long history and tradition of athletic success, and the great reputation of the university.
“I am thrilled about becoming part of the UConn family. The opportunity to play a leadership role for a top-tier fundraising organization such as The University of Connecticut Foundation, in support of a championship-caliber athletics department, is both an honor and an opportunity that I fully embrace. UConn Athletics has achieved a tremendous amount, but we have potential for even greater things going forward. I look forward to working with a dedicated and hard-working staff of professionals in the UConn Foundation and the Division of Athletics. But, most of all, I look forward to meeting the many loyal Husky supporters who are invested in making UConn the best university and athletics program in the nation,” he says.
Goines holds a Bachelor’s degree from the University of Kentucky and a Master’s of Science in Sports Administration from Indiana University. He will begin the UConn position on July 11, 2011, and will be transitioning a move to Connecticut in the months prior.
The University of Connecticut Division of Athletics sponsors 24 teams that include over 650 student-athletes. The 2010-11 academic year has been one of the most successful in school history as it became the first school ever to have its men’s and women’s basketball teams advance to the NCAA Final Four and its football team play in a Bowl Championship Series game. In addition, UConn teams from the sports of men’s soccer, women’s soccer and field hockey have advanced to NCAA tournament play while individuals from women’s swimming and men’s and women’s track and field have participated in NCAA competition. The baseball team recently won the BIG EAST regular season title. The primary mission of the Division of Athletics is the academic success of its student-athletes. Approximately 50 percent of student-athletes carry a 3.0 “B” Grade Point of Average and the retention rate of student-athletes is annually in the 99-percent range.
The University of Connecticut Foundation is a tax-exempt corporation that operates exclusively to promote the educational, scientific, cultural, and recreational objectives of the University of Connecticut. As the primary fundraising vehicle for the University, the Foundation’s mission is to solicit, receive and administer gifts and financial resources from private sources to support UConn’s pursuit of excellence in teaching, research and public service. Private gifts support students, faculty, research and programs at all of UConn’s schools and colleges in addition to its world-class research centers and model athletics program.
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