|Private support for UND totals $36 million|
UND alumni and friends helped make the 2006-07 fiscal year the most successful in that of the UND Foundation’s 29-year history. The UND Foundation has recorded a total of $36 million in new gifts and pledges for the fiscal year ending June 30, 2007, surpassing the prior record of just over $20 million in fiscal 2005-06. Total assets have grown from $161 million to over $205 million, another record for the Foundation.
And, an incredible 13,215 alumni and friends supported UND as donors in fiscal 2006-07. This is up by nearly 400 donors from the year before.
The UND Foundation provided $13.2 million in programs and support for the University, its students and faculty. Of the $13.2 million, more than $3.2 million supported student academic and athletic scholarships.
“The record smashing success of this fiscal makes it clear our alumni and friends understand the importance of philanthropy making UND the nationally competitive institution it is. Their investment in educational and economic development through the UND Foundation benefiting the University of North Dakota provides the funding necessary to give students the collegiate experience that gives them the competitive edge upon gradation,” said Tim O’Keefe, executive vice president and CEO of the UND Foundation. “This is a great example of alumni and friends believing in the future vision of UND, wanting to play a role in what UND is today and tomorrow. We are grateful for the continued dedication, support and faith in UND, the UND Foundation and our mission.”
The UND Foundation continues to have a need for unrestricted donations critical to responding to changing needs at UND from year to year. It is important to have the flexibility to direct financial support toward changing priorities.Unrestricted endowments are the vehicle to provide flexible funding into perpetuity as a result of income generated from these endowments.
The UND Foundation is the sister corporation of the University of North Dakota Alumni Association and was organized to receive alumni and other private gifts for the benefit of UND. The Foundation was established in 1978 with assets of approximately $1 million. As of June 30, 2007, the total assets are over $205 million.
The UND Alumni Association has a membership of more than 109,000 graduates, former students and friends, and conducts a comprehensive program of alumni relations throughout the nation. The UND Alumni Association and the UND Foundation are independent, nonprofit corporations. They are recognized among the most successful independent organizations for any public college or university of UND’s size in the nation.