NKU Foundation Assets Top $100 Million for First Time
A milestone for the Northern Kentucky University Foundation, Inc., means more support for the students and programs of NKU.
The Foundation’s total assets as of Jan. 1 now exceed $100 million for the first time in the Foundation’s 43-year history. This includes an $89 million endowment pool and other funds the Foundation manages.
“It is a success that poises us for additional growth,” said J. David Bender, Foundation president. “We couldn’t have accomplished this growth without the prudent and skilled management by our volunteer Investment Committee and the work of NKU’s university advancement division. It was a combined effort that will greatly benefit NKU’s students.”
“We are fortunate to live in a community that understands the value of investing in education,” said NKU President Geoffrey Mearns. “During tough economic times, NKU and the NKU Foundation continued to receive support from alumni, corporations, foundations, and friends that made us the major metropolitan university we are today. Without their help, we would not have experienced the rapid growth or success we have seen in the last 20 years or enabled as many students to pursue their dreams.”
The Foundation accepts private gifts on behalf of NKU, and then a 10-member volunteer Investment Committee manages the Foundation’s endowment assets, monitoring the endowment’s progress and making recommendations to the full Foundation Board of Directors and Executive Committee for ways to improve the Foundation’s portfolio. NKU uses these funds to support students, faculty, staff, programs, and facilities.
Through the successful Shaping Dreams Campaign, private donors reshaped NKU’s campus, adding the Oakley and Eva G. Farris Amphitheater and The Bank of Kentucky Center; creating the first endowed chair position; and contributing more endowed scholarships to support NKU students. In 2008, the Carol Ann and Ralph V. Haile, Jr./US Bank Foundation made a $15 million investment – the largest in NKU history – in the College of Business.
Targeted campaigns such as the GO GOLD Campaign for Division I Athletics and the College of Informatics campaign, which helped construct Griffin Hall, have enhanced athletic and academic opportunities for students, and the Annual Fund campaign has increased alumni participation.
In addition to celebrating its $100 million achievement, the Foundation is welcoming new leadership. At its November board meeting, the Foundation board elected J. David Bender to a second term as president.
New Foundation board officers include William C. Vermillion as vice president, Barry C. Kienzle as treasurer, and Kara Williams as secretary. New Executive Committee members this year include Jason Jackman, NKU Regent Nathan Smith, and University Advancement Vice President Eric Gentry. New board members include Greg Cole, past NKU Alumni Council president.
From Northern Kentucky University