Name: Youngstown State University Foundation
Assets Under Management: $301 Million (Source: Youngstown State University Foundation on 6/30/2013)
Portfolio Insights: “Youngstown State University, an urban research university, emphasizes a creative, integrated approach to education, scholarship, and service. The University places students at its center; leads in the discovery, dissemination, and application of knowledge; advances civic, scientific, and technological development; and fosters colla boration to enrich the region and the world.
The University’s financial report includes three basic financial statements: the Statement of Net Position, the Statement of Revenues, Expenses and Changes in Net Position, and the Statement of Cash Flows.” (Source)
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Top Youngstown State University Foundation Endowment Fund Headlines:
1) The YSU Foundation, with an endowment of over $212 million, is committed to providing this “edge of excellence” for the University and the students it serves. The Foundation, whose sole purpose is to benefit Youngstown State University, provides more than $7.4 million in scholarship assistance annually for its students. You must submit the YSU Undergraduate Admission Application (with transcripts) by February 15 to be considered for scholarships through the Scholarships for Excellence Program at Youngstown State University. With the exception of the Leslie H. Cochran University Scholars application, there are no other application forms needed for YSU’s Scholarships for Excellence. Students cannot be awarded more than one scholarship through the Scholarships for Excellence program. (Source)
2) The Youngstown State University Department of Intercollegiate Athletics is pleased to announce the creation of the Carmine L. Cassese Family Scholarship endowment to enhance the YSU Athletics Scholarship Endowment Fund. The endowment will be awarded for the first time during the 2014-15 academic year.
Cassese was a much respected member of the Athletic Department for nearly 30 years. He started his career in the early 1980s as an assistant in the equipment room for Chubby Scott before retiring in 2012 after 26 years as the head equipment manager. For the Penguins he was the head equipment manager for 26 years spanning the coaching careers of Bill Narduzzi, Jim Tressel, Jon Heacock and Eric Wolford. (Source)
3) Over the past two years, the Youngstown State University Foundation has implemented a strategic plan that has allowed the foundation to allocate a record $7.4 million dollars in scholarship support to the next academic year — a move that could attract qualified incoming students.
Though it operates independently of the univerity, the YSU Foundation has $215 million in assets used solely to support YSU and its students.
Paul McFadden, as president of the YSU Foundation, encourages alumni and friends to make donations to the foundation. He indicated that all of the foundation’s $215 million has been obtained by donations from alumni and friends of the university and by investment gains on those charitable dollars. (Source)
4) Youngstown State University, in an effort to save money and increase fundraising, will merge its department of development into the private non-profit Youngstown State University Foundation.
The Office of University Development will be dissolved, spokesman Ron Cole said in an email. “The office only has about five positions,” he wrote. “One person is retiring and won’t be replaced. Another, a vice president position, also will be eliminated. The others will be incorporated into the Office of Alumni and Events Management.” (Source)
5) The mission of Youngstown State University, and the YSU Foundation, has transcended the generations, to provide students the financial means to pursue their education, so critical to a successful and productive life. (Source)