ENDOWMENTS & GIFTS
Endowed gifts are the focus of this campaign to ensure that the University maintains a strong financial position going forward.
Having a private endowment that may be used for critical needs, unforeseen emergencies, capital improvements, or any number of other necessities is critical to the long-term success of the University. Currently, the Athens State Foundation funds over 150 scholarships each year, with the majority being endowed. We hope to double that number to 300 and dedicate a portion of funding to building financial flexibility.
The general endowment is an investment account in which all funds donated will remain in perpetuity and be invested to generate income for the University. The University is in good financial condition. We prudently manage our assets in order to keep tuition costs as low as possible while maintaining a quality level of instruction. As a not-for-profit, state institution, our budget each year allows us to cover our expenses and, in some years, place a small amount in a fund for future projects. Having a private endowment that may be used for critical needs, unforeseen emergencies, capital improvements, or any number of other necessities is critical to the long-term success of the University.
Currently, the Athens State University Foundation funds approximately 150 scholarships, awarding approximately $150,000 annually to students. Our goal for this campaign is to double that number. Athens State is a working persons’ institution, meaning a majority of our students attend college while holding down a full-time job. Many have children, are the first in their family to attend college, and most qualify for some financial assistance. They are here for a better life. We believe that attracting students, whether they have financial need or receive merit-based awards, depends on our ability to offset the costs of a quality education.
These gifts provide the flexibility to meet unforeseen needs as we strive to realize our mission of empowering students for success. The Athens State University Foundation is proud of its history in ensuring our donors that we are extremely cognizant of their investment and that we take our fiduciary responsibility seriously. Historically, we spend approximately 5% of our total funding on items related to administrative costs. Therefore, $0.95 of every dollar donated goes directly to help our students succeed. In prior years, we have used unrestricted gifts to help students who have financial emergencies, to fund University needs not covered by state appropriations, and as a buffer to ensure we have adequate funding to assist in areas of immediate need that occur outside of the budgeting process.