KU Endowment provides record support for KU

KU Endowment in fiscal year 2002 provided a record $68.9 million in support for University students, faculty, projects and programs, KU Endowment President Dale Seuferling, j'77, announced at the foundation's annual meeting October 18.

In addition, donors gave $62.1 million, the second-highest total ever. The news was announced the 111th annual meeting of the KU Endowment Board of Trustees at the KU Visitor Center on the Lawrence Campus. KU Endowment's fiscal year runs July 1 to June 30.

The total of $68.9 million in support for KU represents a 6 percent increase over the previous record of $65.1 million in 2000, and it brings total support provided by KU Endowment since its founding in 1891 to $931.1 million. Support is provided through gift revenue and returns on the investment of endowed funds.

Support for the University continues to increase across several areas. Student support, for example, increased 7 percent over last year, growing from $25.4 million in 2001 to $27.2 million in 2002. KU Endowment issued $21 million in scholarships, $4 million in loans, $1.7 million in fellowships and $450,000 in student awards and prizes. The support directly benefited more than 9,000 students.

Support for faculty and staff increased 14.5 percent, rising from $20
million in 2001 to $22.9 million in 2002.

KU Endowment also issued $10.9 million in support from unrestricted funds-those not designated for a specific program or purpose. These funds traditionally have been used to support programs that would not otherwise receive funding. This support included $3.1 million for student scholarships.

Total giving of $62.1 million followed last year's record of $92 million, which resulted in large part from an extraordinary pledge of $42 million-much of which was recorded during fiscal year 2001-from the Hall Family Foundation. Gift revenue in 2000 totaled $53.3 million.

In the most recent annual comparison of college and university endowments, KU Endowment ranked 56th among 610 participating U.S. and Canadian institutions. It ranked 18th among state-assisted institutions and fourth among Big XII universities. The rankings were produced by the National Association for College and University Business Officers.

Consistent with widespread market losses, the market value of KU Endowment's total assets decreased in value by 7 percent in 2002 from $1.09 billion to $1.02 billion. More than 70 percent of these assets represent major investment programs, and the decrease in value resulted from the overall decline in investment returns. KU Endowment was able to provide record support in 2002 in spite of the decrease because funds are managed so as to stabilize annual support even during volatile market periods.

Also at the Board meeting, Campaign Chairman Forrest E. Hoglund announced that total giving to KU First: Invest in Excellence, the comprehensive fund-raising campaign currently underway, had reached $358 million. KU First is the third comprehensive fund-raising campaign in KU history, with a goal of $500 million.

Simons Retires; Board Elects Becker

Dolph Simons, Jr.

At the 111th annual meeting of the Board ofTrustees of KU Endowment today, Chairman Dolph C. Simons, Jr., announced his resignation as chairman. He joined the board in 1977 and will remain a member of the board and its Executive Committee.

Frank J. Becker, of Lawrence, Kan., board member since 1983 and one of the organization's two vice chairmen, was elected to succeed Simons as chairman.

In other business, the Board of Trustees elected one new member to the board, John B. Dicus of Topeka, Kan.

The KU Endowment Board of Trustees is composed of up to 75 trustees who represent and support the University of Kansas around the country. Their duties include reviewing reports on fund raising and asset management, and serving on committees that provide advice and recommendations for KU Endowment programs and activities.

Simons, j'51, said he felt the time was right for his decision to step down as chairman. "I have served as chairman for the past eight years and it is time to step aside," he said. "It was a pleasure serving with former president Jim Martin and I would have enjoyed working with our new president, Dale Seuferling. I know the Association is in excellent hands with Seuferling's enthusiasm, leadership and vision."

Simons also adds, "serving as chairman of the Association has had an added meaning for me as my father, Dolph Simons, became an Endowment Association trustee in 1939 and served as chairman from 1966 to 1972. KU is a wonderful university and, although there are sure to be many challenges in many forms for KU, the opportunities are great."

Frank Becker

Becker, e'58, and Simons have worked together on the board's Executive Committee since 1996, and both are members of the Steering Committee for KU First: Invest in Excellence, the comprehensive fund-raising campaign for KU currently underway. Becker also has served as chairman of the Finance Committee since 1992.

Becker said he was proud to succeed Simons as chairman.

"KU Endowment has a great tradition of providing significant support for the University because of leaders like Dolph Simons, Jr.," he said. "I look forward to continuing that tradition and to working with KU Endowment President Dale Seuferling in moving the Association forward."

Chancellor Robert E. Hemenway credited Simons for his contribution to KU Endowment's strong support for the University.

"KU Endowment's support for KU has enabled the University to become nationally recognized," he said. "The excellent leadership of Dolph Simons and the Simons family has set a high standard for all of us. I've enjoyed working with him in his capacity as chairman and with Frank Becker in his capacity as vice chairman. The three of us will continue to work together as members of the KU First Steering Committee. I have great confidence that the Endowment Association will continue to be successful under Frank's leadership."

Simons, of Lawrence, has served as chairman since 1994. He is editor and publisher of the Lawrence Journal-World and president of The World Company. He is a recipient of KU's Distinguished Service Citation for service to humanity and its Fred Ellsworth Medallion for service to the University. He is a life member of the Kansas Alumni Association and has served on numerous Alumni Association committees, including service as president of its National Board of Directors.

For KU Endowment, Simons has served on the Executive Committee and the Educational Fund-raising Committee. During Campaign Kansas, KU Endowment's second comprehensive fund-raising campaign which ran from 1987 through 1992, he served as a member of the Executive Board. He also was a member of the Council for Progress during the Program for Progress, KU Endowment's first comprehensive fund-raising campaign which ran from 1966 through 1969. He is a charter member of The Chancellors Club, KU's major-donor organization, and a member of the Club's Outlook Society. He also is a charter member of the Elizabeth M. Watkins Society, which honors donors who have developed estate plans or other deferred gift arrangements that ultimately will benefit KU.

Becker, of Lawrence, is the owner and president of Becker Investments Inc. He is a recipient of KU's Distinguished Service Citation and its Fred Ellsworth Medallion. He is a life member of the Kansas Alumni Association and has served on numerous Alumni Association committees, including service as president of its National Board of Directors.

In addition to service as a KU Endowment vice chairman and as chairman of the board's Finance Committee, Becker also serves on the Executive Committee. During Campaign Kansas, he was a member of the National Council. He is a life member of The Chancellors Club and a member of the Club's Hill Society.

Also on Friday, the board elected John B. Dicus, b'83, g'85, as a KU Endowment trustee.

Dicus is president and COO of Capitol Federal Savings Bank, Topeka. He is a life member of the Kansas Alumni Association and has served on many of its committees, including its National Board of Directors. For KU Endowment, he has served on the National Development Council and the Greater University Fund Advisory Board. During Campaign Kansas, he was a member of the Northeast Regional Committee. He is a member of the Chancellors Club.

#top#