September 10, 2007
University of Alaska Foundation Celebrates Record-Breaking Year
For immediate release
September 10, 2007
The University of Alaska Foundation has reason to celebrate. The fiscal year that ended June 30 has proven to be one of the best in the foundation's history. The number of donors, the value of gifts and investment returns in fiscal year 2007 are up significantly from previous years.
University of Alaska Foundation President Mary Rutherford said more than 5,900 individuals, businesses and foundations made charitable gifts totaling more than $20 million in support of University of Alaska programs and students. This compares to just over 4,700 donors who contributed $18.3 million the previous year. Many more individuals gave gifts. Individual giving represented 31 percent of the total contributions, compared to 10 percent the previous year.
Rutherford said these increases directly translate to good news for the University of Alaska, the foundation's sole beneficiary. "We are humbled and grateful that donors chose to entrust the University of Alaska Foundation with their generosity. We take that trust very seriously. The increases in private giving, and a stronger investment performance mean university programs and students will enjoy the generosity of others today and in years to come," she said.
"The University of Alaska Foundation is one of the best kept secrets in Alaska. The consistently strong investment returns convince me as a donor, that the foundation is absolutely the best place to put my money. Especially since I value the impact education has on creating a great state" remarked foundation chair Ann Parrish.
Seventy-eight percent of donors designated their gifts to specific programs, building projects, equipment and scholarships. Approximately one-third of the donations were contributed toward endowments, which will provide for the University of Alaska in perpetuity.
The University of Alaska Foundation also enjoyed a year of remarkable investment performance. The annual return on the Consolidated Endowment Fund was the highest since the fund's inception. The foundation earned 18.05% on the fund, compared to 12.32% in fiscal year 2006. The fund's market value as of June 30, 2007 was $266.5 million, an increase of $42.4 million (18.9 %) over fiscal year 2006. Over the last three years, the Foundation's Consolidated Endowment Fund has earned 13.8 percent, and it has earned 11 percent over the last five years.
The University of Alaska Foundation is proud to serve the University of Alaska and those who entrust the foundation with their charitable contributions. By providing strong support for university development efforts, and practicing sound investment principles, the foundation is successfully partnering with donors to provide the greatest possible returns for the benefit of the University of Alaska and the state the university serves.
For more information, contact UA Foundation President Mary Rutherford at (907) 450-8030.