WSU Foundation reaches highest total in three years
The Wichita State University Foundation's fiscal year 2013 closed with more than $22.5 million in total giving, including nearly $5 million from 19 estate gifts, according to Elizabeth King, WSU Foundation president and CEO.
It was a record year for contributions to the Annual Fund for Excellence, KMUW 89.1, the WSU Alumni Association and the Shocker Athletic Scholarship Organization. This year's total is the highest in the past three years.
"The College of Engineering received the largest amount of private support, mainly due to the Velma Wallace estate gift, of which the remainder will be received in fiscal year 2014," said King. “Estate gifts made a huge impact during the year, as the Fairmount College of Liberal Arts and Sciences was the second college to receive the most support. Its largest gift came from the Dorothy S. Froning Revocable Trust.”
The total market value of the WSU Foundation's endowment is approximately $230 million, of which nearly $7.5 million was received during fiscal year 2013 and placed in the endowment.
The WSU Foundation’s investment return for fiscal year 2013 was 8.8 percent, which increases its five-year return to 3 percent (five-year return on June 30, 2012, was 0 percent). For the 2012 calendar year, the return was 11.4 percent.
"As of July 1, we have started fresh, enthusiastically embracing new goals and initiatives," said King, "but relishing the history-making successes of this past year."