University of Idaho Foundation Reports 15% Return for Year
Thursday, October 21 2010
MOSCOW, Idaho – In a time when the national economy is still struggling, the University of Idaho Foundation Inc. has seen positive growth. For fiscal year 2010, the foundation's Consolidated Investment Trust (CIT) achieved a 15 percent total rate of return.
The CIT is a pooled endowment fund comprised of 1,349 donor-established endowments managed by the University of Idaho Foundation for the benefit of the University of Idaho. Earnings are distributed annually for the uses intended by the donors. The CIT accounts for 83 percent of the foundation's total assets, which increased to $210.3 million this fiscal year.
“We are pleased to announce that the 15 percent return placed the University of Idaho Foundation in the top 11 percent of the Cambridge Associates College and University Endowment database,” said Foundation Chairman Frances Tovey Ellsworth.
This nationally recognized database consists of 150 institutions with market values between $34 million and $6.7 billion. “The University of Idaho Foundation performed better than Duke and Harvard as well as many others this past year,” noted Ellsworth.
"The university's legacy of leading is demonstrated by the outstanding commitment by alumni and friends as well as our dynamic foundation leadership," said Ellsworth. "Our success this year is a powerful indication of the loyalty and support of the extended Vandal family."
The Foundation’s financial growth also benefits students. This year alone, the CIT distribution to the University of Idaho for scholarships and other initiatives was $6.8 million. The University of Idaho Foundation has distributed nearly $113 million from endowment earnings since it was established in 1959.
"I am proud of the University of Idaho Foundation and the thousands of donors who give so generously," said University of Idaho President M. Duane Nellis. "As the state’s flagship research university, the University of Idaho impacts our state, region and world. These private gifts managed by the foundation truly make a difference. I appreciate the dedication and leadership provided by our volunteers with the foundation."
Total private support for the University of Idaho was $26.8 million this fiscal year, with more than 10,700 donors contributing. University of Idaho alumni account for 55.5 percent of all donors. Corporations, foundations and other organizations provide 29.6 percent of the gifts. And friends, parents, faculty and staff provide the remaining 14.9 percent of private support.
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About the University of Idaho Foundation, Inc.
The mission of the University of Idaho Foundation, Inc. is to secure, manage and distribute private support to enhance the growth and development of the University of Idaho. The nonprofit foundation, 501(c)(3) organization is one of the largest charitable foundations in the state of Idaho. The Foundation has offices in Boise and Moscow. For more information, visit www.uidahofoundation.org
Media Contact: Nancy McDaniel, University of Idaho Foundation Inc.,
(208) 364-4065 office, (208) 850-5799 cell, email@example.com
About the University of Idaho
The University of Idaho helps students to succeed and become leaders. Its land-grant mission furthers innovative scholarly and creative research to grow Idaho's economy and serve a statewide community. From its main campus in Moscow, Idaho, to 70 research and academic locations statewide, U-Idaho emphasizes real-world application as part of its student experience. U-Idaho combines the strength of a large university with the intimacy of small learning communities. It is home to the Vandals. For information, visit www.uidaho.edu