Fundraising and Financial Highlights
Year in Review 2011 Total Net Assets as of Fiscal Year End
$17.4
(June 30, 2011) in Millions
$2.74
$14.4 $13.1
$13.5
Dollars Raised by Fiscal Year
$11.7
(July 1 - June 30) in Millions $1.66
’07
’08
’09
’10
’11
$1.50
$1.45
’07
’08
$1.50
’09
’10
’11
Although there remain continuing fears of a doubledip recession in the U.S. and the ever present economic threats from Europe, our 2011 fundraising was not significantly affected. Total new gifts were $1.5 million, similar to the prior year after deducting a $1.2 million bequest received in 2010. The financial markets showed some signs of recovering in 2010-2011, although it has been a volatile period. However, the Southern Connecticut State University Foundation’s net assets rose dramatically, with just over a $3.0 million increase over the prior fiscal year for a total of $17.4 million. During 2011, the market value of Southern’s endowment increased almost $2.8 million to close the fiscal year at $13.7 million. This significant rise reflects investment earnings on the portfolio, which were relatively strong until the last quarter of the fiscal year. Also, as in the prior year, expenditures were maintained at a minimum in our continuing attempt to help the bottom line.
Looking Ahead Sources of Support for New Gifts and Commitments Fiscal Year 2011 $1,725,220
Foundations 44% $764,468 Friends: 12% $207,276 Alumni 23% $394,734
Faculty/Staff: 4% $67,652 Corporations: 17% $291,090
Distribution of New Gifts and Commitments Fiscal Year 2011 $1,725,220 University Support: 8% $137,548
Endowment 19% $334,414
Programmatic 73% $1,253,258
Federal Reserve officials left their policy options open for 2012, but took no actions at the last Federal Open Market Committee meeting of 2011. They offered an assessment of the economy that was guardedly more upbeat, but still marked by “significant downside risks.” Nine out of 10 Fed officials voted to keep the U.S. central bank’s easy-credit policies unchanged. Although there are some reports that economic growth in the U.S. will continue to be sluggish and the annual growth rate reduced from an original estimate of 2.5 percent to 2.0 percent, the outlook is not entirely negative. While there is growing alarm about the stresses on European banks, the Foundation’s investment manager, Commonfund Securities, has almost no exposure in this specific sector. Furthermore, corporate profits are strong. The Foundation board is optimistic that its investment portfolio will continue to achieve earnings combined with the generous support from our constituents. Our objectives remain to increase resources for scholarships and generate programmatic funding for new initiatives.
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