Name: Kansas University Endowment Association (KU Endowment Association)
Assets Under Management: $1.83 Billion (Source: Kansas University Endowment Association on 6/30/2014)
Annual Report: Kansas University Endowment Association’s 2014 Audit Report
Portfolio Insights: “The Kansas University Endowment Association (KU Endowment) is an independent, nonprofit organization serving as the official fund-raising and fund-management foundation for the University of Kansas (the University). Founded in 1891, KU Endowment is the oldest foundation of its kind and one of the largest at a public university in the United States. KU Endowment partners with donors in providing philanthropic support to build a greater university.
KU Endowment is an organization as described in Section 501(c)(3) of the Internal Revenue Code (the Code) and has received an Internal Revenue Service (IRS) determination letter stating that its exempt function income is exempt from tax, pursuant to Section 501(a) of the Code. Accordingly, income taxes are not provided for in the accompanying consolidated financial statements.” (Source)
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Top Kansas University Endowment Association (KU Endowment Association) Headlines:
1) The Kansas University Endowment Association made significant gains in the stock market this year and appears to have offset losses incurred during the recent recession. After the market value of the association’s endowed funds dropped 14.4 percent from $855.5 million in 2000 to a low point of $732.2 million in 2002, the value climbed back to $849.3 million in 2004. (Source)
2) “We are grateful for the farsightedness and generosity of Dolph Simons and his family in utilizing the KU Endowment Charitable Gift Fund for their philanthropic plans to benefit not only KU, but also KU’s home community of Douglas County,” said Dale Seuferling, president of the Kansas University Endowment Association. (Source)
3) Momenta was selected to design a sustainable structure to house the KU Endowment Association’s Kansas City staff with additional administrative office facilities for the University of Kansas School of Medicine. The three-story building utilizes generous daylighting strategies, under-floor displacement air HVAC, and indirect/direct pendant lighting to minimize energy consumption and operating costs. Architectural precast, high efficiency glazing and a white reflective membrane roof comprise the building envelope. (Source)
4) The Kansas University Endowment Association has announced changes in key leadership positions. Immediately after being named the president of KU Endowment, Dale Seuferling promoted two executives to top association spots. Kevin Corbett has been named senior vice president for development at KU Endowment. The KU Endowment Executive Committee also has selected Corbett as a trustee and secretary of the association. Corbett fills the position Seuferling recently vacated. In his new role, Corbett will serve as the chief development and fund-raising administrator, overseeing all private fund-raising programs at KU Endowment. “We are fortunate to have an associate with Kevin’s expertise and abilities on staff for these duties,” Seuferling said. (Source)
5) The Kansas University Endowment Association maintains all funds separately, and many bear the names of the donors or of the persons honored or memorialized. Donations to the Endowment Association are used solely for the purposes designated by the donor without deductions for administrative costs or overhead. Endowment funds finance student loans, lectureships, scholarships, professorships, fellowships, and acquisitions for the Medical Center libraries. They also are used for general medical research and for special research in such fields as cancer, heart disease, and problems of aging. Both loan funds and scholarship funds benefit medical students. Funds received for scholarships are invested so that the income provides scholarships indefinitely.