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Northern Kentucky University Foundation, Inc. Endowment Fund

Name: Northern Kentucky University Foundation, Inc.

Assets Under Management: $495.7 Million (Source: Northern Kentucky University Foundation on 6/30/2014)

Annual Report: Northern Kentucky University’s 2013-2014 Financial Report

Portfolio Insights: “Northern Kentucky University’s (the University) Management Discussion and Analysis of its financial condition provides an overview of the financial performance of the University for the year ended June 30, 2014, with selected comparative information for the years ended June 30, 2013 and 2012.

The University’s assets increased by $43.9 million, or 9.7 percent, for the year ended June 30, 2014 and now total $495.7 million. A $13.2 million increase in current assets for the year ended June 30, 2014 combined with a $2.5 million decrease for the year ended June 30, 2013, resulted in a combined increase of $10.7 million, or 10.9 percent, since June 30, 2012.” (Source)

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Top Northern Kentucky University Foundation, Inc. Endowment Fund Headlines:

1)Northern Kentucky University Foundation Inc. receives and invests privately donated funds that enhance the quality of education at NKU. The Foundation is an independent corporation directed and supervised by a Board of Directors. Each board member generously volunteers their time and expertise to ensure the growth and development of the university. Through tax deductible donations and the work of the Foundation, NKU is able to offer a higher level of education that would not be possible through state assistance alone. (Source)

2) Northern Kentucky University Foundation Inc. was created to manage privately donated gifts for Northern Kentucky University. Incorporated in 1970, the Foundation is a non-profit, tax-exempt organization governed by a Board of Directors who all serve without compensation. While state appropriations help fund the university’s basic operation budget, the Foundation provides other sources of revenue necessary for growth and development. Gifts from generous donors have funded student scholarships, campus expansion, building renovations, technology upgrades, and community outreach programs. (Source)

3) The NKU Foundation was established in 1970 as an independent 501(c)(3) public charity whose mission is to maximize sustainable support for NKU by receiving, managing, and administering private gift support while prudently discharging its fiduciary obligations to the university, donors, and designated beneficiaries.

The NKU Foundation supports the vision, strategic priorities and goals of Northern Kentucky University and encourages NKU’s continuing development by being a philanthropic foundation of excellence, service, volunteer leadership, and exemplary fiduciary responsibility. (Source)

4) The Northern Kentucky University Foundation’s assets have reached a record high, the school announced on Monday. The foundation’s assets as of the first of this year topped $100 million for the first time in the foundation’s 43-year history.

The assets are made up of an $89 million endowment pool along with other funds. The foundation funds support student scholarships, campus expansion, building renovations, technology upgrades and community outreach programs.

“We are fortunate to live in a community that understands the value of investing in education,” NKU President Geoffrey Mearns said in a news release. “During tough economic times, NKU and the NKU Foundation continued to receive support from alumni, corporations, foundations and friends that made us the major metropolitan university we are today. Without their help, we would not have experienced the rapid growth or success we have seen in the last 20 years or enabled as many students to pursue their dreams.” (Source)

5) The Northern Kentucky University Foundation is making a $1 million investment into startup supporter Cintrifuse, President Geoffrey Mearns announced Thursday.

The $1 million was given to the foundation from an anonymous donor. The investment will go to the $57 million Cintrifuse Early Stage Capital Fund, a fund of funds that invests in venture capital funds across the country with the goal of getting them to spend time in, mentor and invest in Cincinnati and its startups.

“We’re very pleased to add Northern Kentucky University as an investor. They join 14 other corporations, foundations and schools around the area who all want Greater Cincinnati to continue to be at the forefront of innovation,” Cintrifuse fund manager Tim Schigel said in a news release. “We think it’s great to add their voice to the conversation.” (Source)

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