The University of South Dakota Foundation reports income of $32 million for the year ending June 30, including gift income of $11.6 million investment earning. Assets of the foundation on June 30 were $184 million, up $20 million or 12.2 percent from 2006.
The foundation is the fundraising and endowment management organization for the university. It completed the $60 million Campaign South Dakota drive at the end of 2006 with total receipts of $134 million.
The foundation directly provided $9.3 million to the university for support in fiscal year 2007, including $2.9 million for scholarships. Over a 10-year period, the Foundation has provided $56.8 million to the university for scholarships, buildings, faculty and other support.
At the Oct. 12 annual meeting of the foundation, Dan Moen of Aberdeen was named chair of the organization for a two-year period succeeding Warren Prostrollo of Paradise Valley, AZ; Paul Lewis of Sioux Falls was named chair-elect to succeed Moen in 2009. Re-elected to the foundation's board of directors were Sue French, Vermillion, and John Lillibridge, Burke. Newly elected board members are Gary Begeman, Oak Hill, VA; Gina Knox Holzman, Pasadena, CA; Doyle Knudson, Paradise Valley, AZ; and Mark Mickelson and John Waltner of Sioux Falls.