Contributions to university up by 28 percent Contributions to The University of South Dakota Foundation increased by 28 percent for the 1999 fiscal year ending June 30, according to Foundation President Ted Muenster.
Gift income for the year totaled $5,048,000, compared to $3,920,000 in fiscal year 1998.
Assets managed by the Foundation, including endowments, increased by $8,260,000 to $60,173,000 during the year. Increases in assets included gift income, investment results and other income.
During the year, the Foundation transferred $3,255,000 directly to the University for scholarship, departmental support and building and equipment expenses.
"The impressive 28 percent gain in gift support during the 1999 fiscal year is a clear demonstration of support for the direction of the University under the leadership of President Jim Abbott," Muenster said. "We are deeply grateful to the alumni and friends of the University for this tangible statement of support which is so important to making a university education affordable to so many students through our scholarship programs and enhancing the quality of the University through other support funds."
The mission of the USD Foundation is to provide private financial resources for the University to increase the excellence of the educational experience provided by USD, with the goal of creating the best small public university in the nation emphasizing excellence in teaching.