The results of Kansas State University’s fundraising results this year mark fiscal year 2017 as the second most successful year in KSU’s history, says Abilene-Reflector Chronicle, in its recent article, “KSU Foundation announces $152M in FY 2017 fundraising.”
Greg Willems, president and CEO of KSU Foundation, commented, “As K-State’s strategic partner for philanthropy, the KSU Foundation inspires and guides philanthropy toward university priorities to boldly advance K-State.”
KSU said that of the $152.6 million raised in fiscal year 2017, donors gave 41% or $61.8 million through endowed gifts, pledges and deferred gifts. This, they say, will ensure the long-term prosperity of the school.
In addition, fiscal year 2017 provided another important first for the university, since the value of its endowment pool went above $500 million in assets for the first time.
KSU said endowment growth is a critical element in its goal of becoming a Top 50 public research university by 2025.
KSU noted some other key philanthropic achievements for the 2017 fiscal year. This included 31 gifts and commitments of $1 million or more, the most $1-million gifts recorded in one year in KSU Foundation history; gift commitments through estate planning, including wills, trusts and annuities, hit an all-time high of $57 million; and endowed gifts and commitments totaled $61.8 million.
The school’s officials explained that endowed gifts create a legacy for the donor—they provide long-term funding for the purpose they support. It can include student scholarships, faculty chairs or professorships.
“The extraordinary philanthropic momentum we’ve experienced in the last decade says volumes about the K-State family’s commitment to the university’s future,” said Rand Berney, chairman of the KSU Foundation board of directors.
Reference: Abilene-Reflector Chronicle (August 23, 2017) “KSU Foundation announces $152M in FY 2017 fundraising”