WKU Foundation to increase philanthropic impact

The WKU Foundation Board of Trustees increased its spending allocation for endowed funds in support of WKU by one-half percent, effective July 1, 2018, during its quarterly board meeting on February 2. This marks the first increase in spending since July 2012. Additionally, the WKU Foundation announced that all endowed funds are currently operating with a surplus above the benefactors’ original gift amount.

“I am proud to work with such a dedicated group of volunteers to take this significant step in the execution of the Foundation’s mission to promote the welfare and future development of Western Kentucky University’s educational goals by managing assets and maintaining donor records for the benefit of Western Kentucky University,” said Randy Schumaker, WKU Foundation Board Chair.

John Paul Blair, Interim President of the WKU Foundation, said, “The WKU Foundation is most pleased to share this development with those who established these private endowments, the campus leaders who administer their usage, and the ultimate beneficiaries—WKU students, faculty and staff. As WKU inspires innovation, elevates communities and transforms lives, private philanthropy is a critical element.”

Chartered in 1993 and guided by a 23-member board, the WKU Foundation is the official repository for gifts to the University. To accomplish its mission, the Foundation provides those services normally associated with a university-related foundation, including but not limited to volunteer leadership, fund solicitation, asset management services, and gift acceptance and acknowledgement. The WKU Foundation manages a significant portion of the combined University endowment of $169 million.

For more information, please contact John Paul Blair at (270) 745-6208.

Posted on: Feb. 5, 2018