Name: Endowment – The Marshall University Foundation
Assets Under Management: $625.4 Million (Source: Marshall University Foundation on 6/30/2014)
Portfolio Insights: “Marshall University (the “University” or the “Institution”) is a public, nonprofit institution of higher learning, which offers degrees in more than 100 academic fields of study at the baccalaureate and graduate degree level, including doctoral degrees (PhD and professional doctorates) in various fields through its 14 colleges and schools.
Endowments, which are recorded as restricted nonexpendable net position, did not change in FY 2014 compared to an increase of $6.1 million in FY 2013. This increase was at MURC for amounts received in connection with the “Bucks for Brains” West Virginia Research Trust fund.” (Source)
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Top Marshall University Foundation, Inc. Endowment Fund Headlines:
1) The Marshall University Foundation’s endowment has been a vital part of private giving to Marshall University for many years. With a principal of more than $75 million, each year the Marshall University Foundation managed endowment fund provides income of more than $3.3 million annually. These dollars help fuel the margin of excellence at Marshall University by offering students many opportunities that would otherwise not exist. (Source)
2) The University’s response, led by interimCEO of the Marshall University Foundation John Kinzer, provided relief for the many students who were displaced by the worst fire to hit Huntington in half a century. The fund he and others started continues to provide relief for students who find themselves in need because of unforeseen circumstances. (Source)
3) Marshall University has received a $2.5 million gift from the BrickStreet Insurance Foundation Inc. to establish a research endowment. The donation is expected to be matched through the state’s “Bucks for Brains” West Virginia Research Trust Fund, for a total benefit to Marshall of $5 million. Proceeds from the endowment will be used to support research at the university’s Joan C. Edwards School of Medicine, particularly projects related to occupational and environmental health. Greg Burton, president and chief executive officer of BrickStreet Mutual Insurance Company, presented the donation to university representatives at the company’s headquarters in Charleston.
“Through the leadership and vision of our board, BrickStreet has set up a foundation focused on giving back to the community in which we live,” said Burton. “Through this partnership with Marshall University’s Joan C. Edwards School of Medicine, BrickStreet is proud to support their continued research efforts. Many of our employees are Marshall graduates, so our partnership with the university runs deep and I know this investment will be used to not only strengthen the university’s research efforts in occupational and environmental health, but also to continue to fulfill its mission to improve the health and wellness of our communities. (Source)
4) The Cline Family Foundation has announced a gift of $5 million to Marshall University to establish an endowment to support new faculty and scientists in the university’s planned sports medicine translational research center.
The Cline Family Foundation was established by Christopher Cline, a successful coal operator, entrepreneur and philanthropist. A native of southern West Virginia, Cline attended Marshall. He announced the gift Monday evening at a fundraising event he hosted at his home in Beckley.
“A true son of Marshall University, Chris Cline is committed to giving back to this state and to helping our university build a cutting-edge sports medicine research program that will serve the people of West Virginia and our region through discoveries, which advance our understanding of neuromusculoskeletal injuries – their prevention, recovery and intervention modalities to accelerate therapeutic outcomes,” said Marshall University President Stephen J. Kopp. “On behalf of the entire Marshall University family, I extend a heartfelt ‘thank you’ to the Cline Family Foundation for this generous donation to our beloved institution.” (Source)
5) Marshall University’s football team is showing its strength on the field this season, and that may be translating into more financial strength for the university’s primary fundraising arm.
The most recent example is that during the first quarter of the 2014-15 fiscal year, between July 1 and Sept. 30, the Annual Fund managed by the Marshall University Foundation grew by more than double the amount it raised during the same time frame last year, Marshall President Stephen Kopp reported at a recent Faculty Senate meeting.
That growth spurt was confirmed by Ron Area, senior vice president for development and chief executive officer for the foundation. (Source)