The West Virginia University Foundation provided a record $27.2 million to West Virginia University during Fiscal Year 2000, bringing the 10-year total to $208 million in direct support.
The Foundation also received a record $52.8 million in gifts from 20,780 alumni and friends for endowment and operational support. The previous mark was $28.3 million set in fiscal year 1999. The endowment grew 18 percent to $323 million, while the total assets under management increased 16 percent to $389.7 million. Both are all-time highs.
“The West Virginia University Foundation is very appreciative of the many alumni and friends, worldwide, who have committed to investing in the future of West Virginia University,”said F. Duke Perry, Foundation president and CEO .”Their generosity is making it possible for WVU to solidify its reputation as a nationally prominent university.
“Private dollars enable the University to strengthen its academic programs, attract and retain gifted faculty and researchers and provide financial support for students. The impact of private giving touches all areas of the University.”
The $27.2 million in disbursements on behalf of the University surpassed last years record mark of $24 million. The funds supported a myriad of purposes including scholarships, fellowships, academic program development, chairs, professorships, lectureships, faculty development, research, equipment, facilities and the WVU libraries.
Eighty-two new scholarship endowments were established through aggregate gifts of $7.9 million. Total scholarship endowment now totals $98.5 million.
Nineteen new life income arrangementsunitrusts, annuity trusts and gift annuitieswere added, bringing the total to 139 with a current residual beneficiary value of $21 million.
A private non-profit organization, the WVU Foundation generates, receives and administers private gifts from individuals and organizations for the benefit of West Virginia University.