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University Daily Kansan, August 23, 1982
Donations, investments rise Endowment Association funds at record high
By CHRIS COURTWRIGHT Staff Reporter
Record assets of more than $112 million were reported by the Kansas University Endowment Association for fiscal year 1982, said Todd Seymour.
Increases in both tax-deductible contributions from individuals and investment income helped raise total assets to $183.7 million in fiscal 1961, Seymour said Friday.
"I THINK the tax reasons definitely play a role in why some people make donations," Seymour said. "I like to think that's not the primary reason, though. I don't know of anybody who can give up something to make a gift.
"There is also a new reason why we could be getting more contributions in the future. Under the new tax law, people who don't itemize their deductions can still get a tax credit up to $25 on gifts for educational purposes.
"In three years, it goes up to a $100 credit. I think we could really be helped by it."
Nearly 28,000 people made contributions totaling $11 million in fiscal 1982, according to the Endowment Association's annual report published last
week, a 14.8 percent increase over fiscal 1981.
An 18.2 percent increase on income earned from investments also helped raise total assets from last year.
"WE EARNED much more money from an investment standpoint last year," Seymour said, "but we also had more to invest. The economy has favored investments over the last two years.
"We've got a lot in money market accounts at 14 or 15 percent. Three or four years ago, that was unheard of."
The Endowment Association has a committee and an outside investment counselor to decide which investments to make, Seymour said.
"When we make an investment, we have to look at what kind of yield it has and how secure it is," he said. "We are not going to make investments as secure as possible."
"I'm not going to invest in somebody drilling an oil well."
The Endowment Association has come under fire recently for investing in corporations that have interests in South Africa.
"I EXPECT the whole thing will probably be an issue again this year," Seymour said. "We have investments
in American corporations like General Motors, Xerox and IBM who have plants down there. But we don't have any direct investment in South Africa." When it comes to allocating this money, the Endowment Association performs two different functions, Seymour said.
"We operate in one sense like a philanthropic foundation," he said. "The chancellor gives us a list of 30 or 40 items that were unable to get state funding but that he feels are important and necessary. We can then comply with money we have discretionary power over."
"We also operate just like a bank. Many of our gifts are given with specific instructions as to what the money can be used for.
"WE TREAT these donations just like a bank account. If a contribution has been made to a certain department, the chairman of the department can, in effect, write a check on that money, and follow the guidelines set down by the donor."
During the last fiscal year, more than 9,000 KU students received direct financial support from the Endowment Association in the form of scholarships, fellowships, awards and short-term loans, according to the annual report.
Students interested in the Fulbright Grant program and direct exchange scholarships will meet to participate in Eight Room of the Kansas Union.
since these are the only students who may apply. If an undergraduate is interested in applying in the future and would like information now, they are welcome to attend, she said.
Study abroad talk planned
"The meeting is to announce grants to study abroad including Fulbright Grants, Rotary scholarships and foreign government grants," Anita Herzeld, director of the office of study abroad, said.
THE MEETING is for seniors and graduate students, Herzfeld said.
The University of Kansas has 14 direct exchange scholarships available. The S24 Fulbright Grants are regionally distributed so KU is as many as some of the students meet the qualifications, Herzfeld said.
In the past, between 10 and 14 KU students have qualified each year for the Fulbright Grants, Herzfeld said.
She said she encouraged students to apply because of the current scarcity of jobs. If an applicant can show some foreign experience on a resume, that could enhance job opportunities.
The deadline for applications is 5 p.m. Oct. 1 in the office of study abroad.
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