UCM Foundation Increases Support for Scholarship, Academics in FY 2015
Contact: Dalene Abner
WARRENSBURG, MO (Feb. 17, 2014) — For the third straight year, the University of Central Missouri Foundation Board of Directors has approved an increased endowment payout, which will provide $890,331 for scholarships and academic programs in FY 2015. The amount represents an eight percent increase over FY 2014.
“The UCM Foundation’s mission is focused on our students, to make a college degree more affordable and accessible,” said Jason Drummond, vice president for alumni relations and development and the Foundation executive director. “By growing our scholarship and program support each year, we are providing students with steady purchasing power. That way, their scholarships maintain their value if tuition increases.”
Drummond attributed the third-year increase in part to the board’s ongoing focus on investment strategies. These strategies also have contributed to the national ranking of the Foundation’s rate of return for the second consecutive year. Drummond explained that the 2013 NACUBO-Commonfund Study of Endowments placed the UCM Foundation’s five-year annualized rate of return in the nation’s top quartile. He noted that the Foundation also is closing in on $50 million in total assets, growing nearly 15 percent in the past year.
“Our donors have high expectations for the investment they make into the Foundation,” Drummond said. He added, “Our board of directors, in conjunction with our investment managers, understands these expectations and focuses on working to provide top quartile performance on the invested assets our donors entrust us with to carry out their philanthropic wishes. In this time of rising educational debt, it is important that our investment returns continue to be strong so the Foundation can provide as many scholarship opportunities as possible for our students. Our donors expect us to stretch their investments as far as we can to keep dreams alive.”