Through a mix of successful fundraising and smart investing, the University of Colorado Foundation grew by $137 million last fiscal year, officials said.
The fund, which supports programs and scholarships at CU’s three institutions, saw $77 million in investment growth and another $60 million in fundraising, bringing the foundation’s total to more than $800 million.
“Private investment is really important because state funding has dwindled over the last 10 years,” said Chris Bittman, the foundation’s chief investment officer.
Fundraising suffered as CU-Boulder spent two years in national headlines for a football recruiting sex scandal and a controversial essay by professor Ward Churchill.
Between fiscal 2003-04 and 2004-05, fundraising sank from $67 million to $54 million, said Cheryl Kisling Crouch, an associate vice president of development at CU-Denver & Health Sciences Center.
But the downward trend has changed with CU’s leadership. President Hank Brown “has brought tremendous credibility and a sense of well-being,” she said.
So far this fiscal year, which ends in June, the foundation has raised $56.8 million of its $70 million goal.
The foundation endowment increased 13.95 percent during fiscal 2006 while the median university endowment performed at 10.8 percent, according to a survey of 755 schools by the National Association of College and University Business Officers and Bittman.
Staff writer Chris Frates can be reached at 303-954-1633 or cfrates@denverpost.com.
