The KSU Foundation received $174.2 million in the last fiscal year to aid the university, marking the second most successful fundraising year for Kansas State.
“2018 was an incredible year as generous K-State alumni and friends, university faculty and staff, and campus partners stepped up to boldly advance the university and move K-State closer to becoming a top 50 public research university,” said Greg Willems, president and CEO of KSU Foundation, in a press release Monday. “The K-State family can be proud of what we have achieved together to support students, faculty, facilities and programs in fiscal year 2018.”
About $100 million was gifted or committed by 28 individual donors, who each provided more than $1 million toward the foundation in the 2018 fiscal year.
Out of the $174.2 million raised, the foundation said donations totaling $92.2 million were made accessible to campus to use for “students, faculty, facilities and programs.”
These funds created 170 new scholarships for students.
All the donations, however, do not immediately translate into cash for campus, as the foundation said 61 percent of this year’s donations came in the form of endowed gifts, deferred gifts and pledges. These gifts go to longer-term funding for initiatives like student scholarships and faculty chairs.
Additionally, the $1.4 billion Innovation and Inspiration campaign is close to meeting its goal; the foundation reported that $1.2 billion in cash donations, pledges and commitments have been collected for the campaign as of June 30.
“K-State is an education, innovation and service leader because of the commitment that generous alumni and friends make toward the university,” Richard Myers, university president, said in the press release. “Every day, K-Staters demonstrate their confidence in the future of the university and its ability to achieve its mission as a land-grant institution to make quality education accessible to all.
Editor’s note: A previous version of this article was ambiguous as to which year the K-State Foundation had earned $174.2 million. It was the previous fiscal year, FY2018, not the current fiscal year.