Name: University of Connecticut & Foundations
Assets Under Management: $489.9 Million (Source: University of Connecticut & Foundations on 6/30/2014)
Portfolio Insights: “The University of Connecticut Foundation, Incorporated (the “Foundation”) was established in 1964 as an independent, privately governed, not-for-profit corporation, chartered under the laws of the State of Connecticut.
The endowment spending policy adopted by the Foundation’s Board of Directors, in conjunction with the strategic asset allocation policy for the long-term pooled investment portfolio, is designed to provide reliable growth in annual spending allocation levels and to preserve or increase the real value of the endowment principal, over time.” (Source)
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Top University of Connecticut & Foundations Endowment Fund Headlines:
1) The University of Connecticut’s Sandy Hook Memorial Scholarship Fund, which to date has raised nearly $700,000 from more than 4,000 people, gained a strong partner Thursday as the Connecticut Education Association announced a $1 million fundraising drive to support UConn’s scholarship fund and create a permanent monument honoring those who died in the Newtown shooting.
The CEA, which represents 43,000 teachers in Connecticut, has established the Sandy Hook Memorial and Scholarship Fund through its non-profit arm, the Connecticut Education Foundation. In a press release, the CEA states that monies received for the scholarship fund will be donated to UConn’s Sandy Hook School Memorial Scholarship Fund. (Source)
2) For more than four combined decades, Judith A. ’73 ’78 and David C. Kelly played key leadership roles as UConn department heads for the very different fields of, respectively, Molecular and Cell Biology and Art and Art History.
Now retired, the couple continues to lead through a $1 million planned gift to support a scholarship fund for recruiting and retaining promising undergraduate and graduate students in the College of Liberal Arts and Sciences.
The Judith A. and David C. Kelly Memorial Scholarship Fund for Molecular & Cell Biology was inspired by the Kellys’ long-standing belief in the transformative power of higher education. (Source)
3) UConn MBA student Justin Nash ’14 is currently studying finance, but before he came to the Stamford campus, he patrolled Afghanistan’s Korengal Valley as a US Army infantry platoon leader. Today, Nash, who was wounded in 2004, and many other veterans are starting their own businesses with assistance from the Entrepreneurial Bootcamp for Veterans with Disabilities (EBV) at UConn’s School of Business.
The EBV program, one of eight in the nation, has received a major grant from Bank of America to support veterans like Nash.
“Finding employment, not to mention starting a business, can be a daunting task for the brave men and women returning from active duty,” says Kevin Cunningham, Connecticut president, Bank of America. “The EBV program builds on the leadership skills they’ve developed and puts them and their business in a position to succeed.” (Source)
4) June 4, 2013 – HuskyDrive Ignite has received a Silver Award from the Council for Advancement and Support of Education in the category of “Innovative Use of Technology”)
May 2013 – From thousands of individual donors, $65,000 has been raised for UConn student clubs and activities through the University’s first crowd-funded philanthropy competition, Ignite. Since February 1, twenty student organizations have competed for a grand prize of $10,000, donated by alumnus David Barton ’61 to the group that generated the highest number of donors who are either current UConn students or young alumni (Class of 2003-2012). (Source)
5) Fundraising for a memorial in honor of Jasper Howard, the University of Connecticut football student-athlete who tragically lost his life five years ago, has been successfully completed. The memorial will be officially dedicated on Saturday, Nov. 1, 2014 at halftime of UConn’s Homecoming game vs. UCF at Rentschler Field.
Funds for the statue were raised in a grassroots fashion with the efforts spearheaded by UConn supporters Dan and Lisa Lowry of Prospect, Conn. The lead gift for the memorial came from former UConn head football coach Randy Edsall, who was Howard’s coach with the Huskies. Donations also came from former Husky student-athletes and fans from around the country. (Source)