University of Nebraska Foundation announces 2012 results
The foundation had its third best year ever for total gifts at $165 million.
Posted: vie, oct 26, 2012
Alumni and friends gave $165 million to the University of Nebraska this year through the University of Nebraska Foundation, making it the foundation's third best year for total gifts.
"We're grateful to all who gave any amount to provide critical resources to advance the university and its growing stature," said Dr. Peter Whitted of Omaha, chair of the University of Nebraska Foundation board of directors.
During the fiscal year that ended June 30, 2012, the foundation transferred nearly $124 million to the university campuses. Funds transferred supported students ($18 million); faculty ($4.6 million); research ($7.3 million); academic programs ($38.4 million); museums, libraries and fine arts ($3.1 million); campus and capital improvements ($51.3 million); and the four alumni associations ($1 million).
As with previous years, more than 99 percent of all gifts were directed by donors to specific purposes or campuses. Because of this, the foundation has few discretionary funds available.
Driving the strong fundraising year was the Campaign for Nebraska, the university's current fundraising initiative now in its seventh year. In May, the foundation announced campaign gifts exceeded the original goal to raise $1.2 billion. More than 82,000 donors have contributed so far to the campaign, which concludes in 2014.
The market value of the foundation's total assets was $1.8 billion on June 30, up slightly from the year before. The endowment, which is the largest portion of total assets, realized a return of -2.6 percent. The negative return was due to volatility in many asset classes, especially the international equities market.
Financial results for the year were reported at the annual meeting of trustees on Oct. 26. In other business, Bill Jackman of Dallas and John Massey of Scottsbluff, Neb., were voted new members of the board of directors. Harley Bergmeyer of DeWitt and Jim Young of Omaha were given the foundation's top volunteer award, the Perry W. Branch Award for Volunteer Service. UNK Professor Peter Longo received the Harlan J. Noddle award, which is given to a foundation or university employee who exhibits distinguished service in the area of development.
To see the University of Nebraska Foundation's annual report or review its independent auditor's report, go to nufoundation.org/annualreports.
The University of Nebraska Foundation is an independent, nonprofit organization raising private gifts to support the University of Nebraska since 1936. In 2012, the foundation provided the university $124 million in private funding for scholarships, medical research, faculty and academic support, and capital projects. In October of 2009, the foundation announced the Campaign for Nebraska: Unlimited Possibilities, a comprehensive fundraising campaign—the largest in the university's history. For more information, visit campaignfornebraska.org.