UCM Foundation Increases Financial Support to University
Feb. 3, 2012 —With a decision to increase its endowment payout by nearly $300,000, the UCM Foundation Board of Directors will make available more than three quarters of a million dollars to benefit the University of Central Missouri in fiscal year 2013, resulting in more financial resources for students and university programs.
The payout authorized Jan. 27 by the board will generate $761,368 for FY 13 expenditures, a 63 percent increase over the $466,542 in FY 12.
Foundation Support to UCM by Fiscal Year
“Through the past few years of marketplace turmoil, the Foundation Board has demonstrated excellent stewardship positioning us to approve this higher payout rate,” said Jesse West, board president. “We are working diligently to grow the foundation so we can increase our support of the university in the coming years.”
Vice President for Development and Foundation Executive Director Jason Drummond added, “Given the potential significant funding decrease expected from state appropriations, I am grateful for the UCM Foundation Board’s steady leadership and commitment to increase support to the university. It is important to remember, however, that this increase is made possible only by our outstanding donors who continue to fill the gap helping UCM reach its fullest potential. This is the largest payout approved by the board in the past four years, and it shows how much they support our university and students.”