Total Net Assets as of Fiscal Year End (June 30, 2010) in Millions $13.1
$14.4
$13.5
Dollars Raised by Fiscal Year
$11.7
$11.4
$2.74
(July 1 - June 30) in Millions $1.77
’06
’07
’08
’09
’10
Sources of Support for New Gifts and Commitments Fiscal Year 2010 $2,953,453
’06
$1.66 $1.50
$1.45
’07
’08
Foundations 16% $464,896
Distribution of New Gifts and Commitments Fiscal Year 2010 $2,953,453
Endowment 57% $1,694,076
’10
Friends 8% $237,880 Faculty/Staff 2% $63,531
Alumni 67% $1,970,564
University Support 13% $380,486
’09
Corporations 7% $216,582
Programmatic 30% $878,891
Year in Review Fundraising and Financial Highlights The financial markets showed strong signs of recovering for 2009-2010 and fundraising has benefited from some major gifts. Total new gifts and commitments approached $3.0 million. The Southern Connecticut State University Foundation’s assets totaled $14.4 million at year end, representing an increase of 23.4% from the prior year. During 2010, the market value of Southern’s endowment reflected a substantial increase of 16.6%, or just under $1.6 million, closing the fiscal year at $10.9 million. This was primarily a result of significant gifts from several of our generous benefactors. In addition, the Student Government Association and other members of the Southern community established the Cheryl J. Norton Endowed Scholarship in her honor. Overall, investment income rebounded by accumulating almost $3.0 million during the fiscal year; thereby erasing the $2.0 million loss from the prior year and adding $1.3 million to the foundation’s endowment revenues. Also helping the bottom line was a decrease in expenditures, the result of efforts to hold expenses to a minimum.
Looking Ahead The outlook for 2011 looks bright. “Recent data indicates that growth continues to trend higher after slipping below 2% in the spring quarter. Following growth of approximately 2.8% in 2010, [it] would not be [surprising] if GDP were to advance at a 3.5% pace or slightly better in 2011 . . .,” according to Citizens Investment Perspectives (Winter 2011). The Foundation Board remains committed to our long-term investment policy of maintaining a diversified investment portfolio, with careful and ongoing monitoring and rebalancing. Our objectives remain to increase resources available for scholarships and generate programmatic support and funding for new initiatives.
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