Name: Eastern Kentucky University Foundation
Assets Under Management: $423.4 Million (Source: Eastern Kentucky University Foundation on 6/30/2014)
Portfolio Insights: “Eastern Kentucky University is a public institution of higher learning located in central Kentucky and serving primarily the Eastern region of the Commonwealth. Many Eastern students are the first among their families to attend college. Alternative investments, consisting of hedge funds and limited partnerships, are carried at estimated fair value provided by the management of the alternative investment funds as of June 30, 2014 and 2013.” (Source)
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Top Eastern Kentucky University Foundation Endowment Fund Headlines:
1) Eastern Kentucky University has received more than $7,000 in employee donations and matching funds from Bechtel Parsons Blue Grass for the University’s Student Veteran Relief Fund endowment project.
The Fund is being developed as part of EKU Operation Veteran Success, a series of initiatives designed to make Eastern an even more veteran-helpful campus.
The goal for the endowed fund project is to generate enough annual revenue to provide short term loans to student veterans who find themselves in a financial crisis through no fault of their own. (Source)
2) The Garand Collectors Association, founded by Eastern Kentucky University Art Professor Emeritus Richard Deane, who died in September, has made a $25,000 donation in his memory to the endowed art education scholarship that honors his work and legacy at EKU.
A two-time Kentucky Art Teacher of the Year and an inductee into the EKU College of Education Wall of Fame, Deane continued to mentor and support his students long after they graduated. The Daniel Richard Deane Jr. Art Education Endowed Scholarship was established in his honor in 2002 to help generations of future students realize their dreams.
Deane founded the Garand Collectors Association in 1986 and managed and led the association for its first 15 years. The collector group is dedicated to the study, collection and safe shooting of the M1 Garand Rifle, the world’s first successful semi-automatic military rifle used as a U.S. Infantry weapon from 1936 until 1957; and the preservation and publication of its history and that of its inventor John C. Garand. (Source)
3) Barry D. Poynter, Interim Vice President for Financial Affairs and Treasurer. Mr. Poynter came to the University in October 2005 as Associate Vice President for Financial Affairs. He received his B.S. in Business Administration from Berea College in 1988 and his M.B.A. degree from Eastern Kentucky University in 1992. Mr. Poynter was elected Treasurer for the University in January 2012, and named Interim Vice President for Financial Affairs for the University in April 2012. He has responsibility for the Division of Financial Affairs, which includes treasury, general financial administration of the University, financial planning and compliance reporting, Controller, Student Accounting Services, Accounting and Financial Services, Post-Award Grant Accounting, Purchasing, and Central Stores. Also included are the auxiliary areas of University dining services, University bookstore services, and University card services. (Source)
4) Eastern Kentucky University Foundation, Richmond, is seeking an investment consultant for its $61 million endowment, said Barry D. Poynter, treasurer for the foundation. The search is being conducted as a due diligence measure. Incumbent Hirtle Callaghan & Co. can rebid. Mr. Poynter said that Hirtle Callaghan “sort of” served the role of an outsourced CIO and the RFP is for a potentially “more broad” investment consulting role. Proposals are due by 2 p.m. EDT on Aug. 31. Finalist presentations will take place in October and a hiring decision is anticipated for November. (Source)
5) The board of directors of Eastern Kentucky University’s Foundation Board announced Wednesday a $1 million commitment to fund one-time, campus-wide projects and initiatives. The foundation board has secured new funds as a result of the university’s ongoing capital campaign.
“We deeply appreciate the Foundation Board’s recognition of the needs of the university, our faculty and our students,” said EKU President Joanne Glasser. “Because of the board’s hard work and wise financial investments and the ongoing success of our capital campaign due to the continuing generosity of our alumni and friends, the educational experience of countless students will be enriched and Eastern will continue to move forward to achieve even greater national distinction.” (Source)