UMass system endowment hits record on 12% fundraising growth

THE UNIVERSITY OF MASSACHUSETTS' endowment has increased to a record $757 million.
THE UNIVERSITY OF MASSACHUSETTS' endowment has increased to a record $757 million.

BOSTON – The endowment for the University of Massachusetts, which includes five distinct campuses, has increased to a record $757 million, the school announced Wednesday.
President Robert L. Caret said that a 12 percent increase in fundraising during the past fiscal year is the reason, and called the support evidence of a “transformational moment” of recognition in the university’s “true value and importance” across the Commonwealth.
The university system has been the recipient of a $100 million funding increase from the state to assist with a 30 percent enrollment surge over the past decade, he said. And 21,360 first-time donors gave this past fiscal year, the largest number in university history.
“At a time when state government has stepped up its financial commitment to UMass, we see similar progress in the area of private support as being central to the University’s long-term stability and success,” Caret said as the Board of Trustees Committee on Administration and Finance held its quarterly meeting.
Fundraising totals by campus include:

  • UMass Amherst, $45,734,059
  • UMass Medical School, $32,145,733
  • UMass Lowell, $20,572,060
  • UMass Boston, $13,607,009
  • UMass Dartmouth, $4,541,190

UMass is in the early stage of its first systemwide capital campaign, which has a goal of raising $800 million over the next five years. In fiscal 2014, the university has raised $116,600,051 in gifts and pledges, a 12 percent increase over the previous year’s $103,862,804 and exceeding its systemwide goal of $105,337,474.
Longtime supporters Douglas and Diana Berthiaume provided the largest donation, a $10 million gift to create a Center for Entrepreneurship at UMass Amherst’s Isenberg School of Management. Douglas Berthiaume, a UMass Amherst alumnus, is chairman, president and CEO of Waters Corp. in Milford, Mass., and co-chairman of UMass Rising, UMass Amherst’s $300 million capital campaign.
“Private support is key to two things of critical importance to the university – access and excellence,” said Henry M. Thomas III, chairman of the UMass Board of Trustees. “The funds we receive from donors are a prime source of funding for student scholarships, and UMass is committed to doing everything it can to maintain affordability for the students of the Commonwealth.”
Private funds also allow the schools to attract and retain top faculty members, Thomas said.
The endowment total of $757 million was recorded on June 30, an increase from $664,200,000 the year prior.
The endowment distributed almost $18 million to the UMass campuses during the 2013-14 academic year to student scholarships and other purposes.

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