The University of Connecticut Foundation’s financial performance was not immune to the global financial crisis that affected investors from across the economic spectrum. Yet despite the downturn in the economy, many new endowments were established and the long-term trend of increased giving by alumni continued. One bright note: UConn alumni participation hit 19 percent, besting a national average of 15 percent at comparable universities. New gifts and commitments ($31.4 million) and revocable and deferred planned gifts ($17.1 million) totaled $48.5 million. Of this amount, donors directed $33.5 million for programs; $4.7 million for faculty, nearly $1 million more than last year; and $10.3 million for scholarships, besting last year’s total by $3.4 million. Of the total $48.5 million, donors directed $29.4 million for the Storrs and regional campuses, $8.6 million for the UConn Health Center and $10.5 million for athletics. Finally, contributors specified $31.2 million for operations and $17.3 million toward the endowment. Forty-nine new endowments were established, bringing the total number of these funds to 1,297. Donors gave $5.6 million to the Fund for UConn, which provides annual support for immediate needs across UConn’s campuses. The number of households that donated was 29,000. Alumni once again increased their giving, contributing $4.2 million more than last year, for a total of $22.5 million. Parents donated $1 million, other individuals gave $8.5 million, corporations gave $9.5 million, and foundations and other organizations gave $7 million. The University requested $28.7 million of the $39.2 million made available by the Foundation to support scholarships, fellowships and awards ($10 million); faculty and staff ($8.7 million); programs and research ($3.1 million); and facilities and equipment ($3 million). The pooled investment portfolio posted a 19.9-percent loss for the fiscal year. This is compared to an average decline among our peer institutions of between 12 and 30 percent, or more. The portfolio outperformed the relevant benchmarks until spring, when a sharp run up in equities markets decreased the benchmarks’ loss to 16.5 percent. Returns of more than 16 percent in global macro, 4 percent in investment grade bonds and 2 percent in U.S. TIPS were outpaced by losses of more than 32 percent in global equities and 28 percent in real estate. Total endowment assets ended the year at $247 million, down by $70 million from fiscal year 2008. The decrease was caused primarily by negative investment returns, but was partially offset by $6 million in new endowment gifts. Finally, the Foundation’s total assets now equal $322 million. The $74 million decrease over last year was caused primarily by the decrease in the investment markets. |
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