During fiscal year 2016 (FY16), the University of Idaho Foundation distributed $21.4 million, including a record-setting $10.2 million from endowments, and $11.2 million in current use gifts to support scholarships, research, faculty, programs and building projects at the University.
Of the $21.4 million distributed, $12 million was distributed to support faculty, programs, research and infrastructure. $9.4 million was distributed for scholarships providing essential financial access and directly impacting the University’s ability to make higher education relevant and accessible to students of all backgrounds from the state, region and world. Privately-donated scholarship funds contribute to the University of Idaho’s tradition of awarding more student scholarships than any other institution in Idaho.
Endowment funds are managed by the Foundation in a pooled fund, the Consolidated Investment Trust (CIT). Endowment gifts are held in perpetuity and annual distributions from investment earnings provide long-term support. For FY16 the Foundation’s Board of Directors authorized an endowment earnings distribution rate calculated at 4.4% of the three-year rolling average of the endowment’s value. The Foundation is very proud of the opportunities and resources that endowment earnings provide the University and considers the stewardship of the CIT our primary mission. Over $165 million from endowment earnings has been distributed since the CIT was established in 1959, including more than $100 million in the past thirteen years.
For FY16, the Foundation’s CIT performance ranked in the top 3% of Cambridge Associates College and University Endowment database. Despite volatile markets, the CIT had a one-year rate of return of 0.9% and five-year annualized return of 5% comparing favorably to similar institutions. The Foundation’s generous alumni, friends and corporate partners gave over $2.4 million to establish 34 new endowments in FY16.
The generous private support we receive is critical in our efforts to support the University of Idaho leadership, faculty, staff and students on their journey to the highest level of excellence. Thanks to the generosity of our donors, the University of Idaho Foundation’s $293 million in total assets makes it the largest institutionally-related charitable organization in the State of Idaho.