CLASS schools other colleges
The College of Liberal Arts and Social Sciences stood out from the other UH colleges when it received more endowment money than any of the University’s other schools.
“Of the UH colleges specifically, the College of Liberal Arts and Social Sciences received the most income from endowments in fiscal year 2011,” said Raymond Bartlett, the UH treasurer. “The income was $1.2 million, which was about $400,000 more than the next college.”
Endowment funds are created when money is donated to the University for the purpose of creating present and future income to be used for a specific purpose. The money comes from donations to the University by individuals, corporations, foundations and trusts that provide a permanent source of funds to support, among other things, scholarships and academic support for students.
In 2008, $15 million in endowment money was distributed to UH colleges for various purposes, with the majority of another $8 million for similar usage. As endowments grow, more scholarship income becomes available for students to offset tuition costs.
“The endowment is overseen by the Endowment Management Committee, which is a committee of the Board of Regents,” Bartlett said.
“In addition, the investment of endowment funds is managed by professional money managers. Endowments are also among the many factors in UH’s Tier One status.”
UH works with the donor community and asks for their support in monetary donations. They are used for the specific purpose stipulated by the donor in support of the University. The receipt of endowment funds and change in value are reflected as revenue in UH’s annual financial report. There are no limits on the number of gifts that can be received by the endowment gift receipts vary each year depending on the status of the stock market and economy.
“Like all universities, UH continues to work hard to grow its endowment fund from new gifts and return on those gifts. The assets of the UHS endowment increased 4 percent from the end of fiscal year 2011 to July 31, 2012,” said Bartlett.
“This increase is due to both market appreciation and new gifts. The endowment market value is $526 million as of July 31, 2012.”
Philanthropists, large and small, affirmed those efforts with grants and gifts designed to enrich the College’s academic programs and artistic endeavors, according to a CLASS news release.