During the 2022-23 fiscal year, the Oswego University Foundation’s investments returned 12.6 percent, or 4.9 percentage points greater than the 7.7 percent average of the other 688 participating U.S. colleges and universities and affiliated foundations. The results were reported in the 2023 NACUBO (National Association of College and University Business Officers)-Commonfund Study of Endowments, released in mid-February.
The university’s endowment grew from $53.9 million at the end of fiscal year 2022 to $62 million at the end of fiscal year 2023. That translates into the foundation being able to return more money to campus over the long term.
“These data trends show that the Oswego University Foundation consistently outperforms not only our peers, but our aspirational peers as well –- or those whose endowments are larger than ours,” said Mary Gibbons Canale ’81, president of the foundation and vice president for university advancement.
“Our Investment Committee, made up of a dedicated group of volunteers, did a tremendous job stewarding the gifts of our donors so we can maximize the impact of their philanthropy on the education of current and future Lakers," Canale said. "We are incredibly grateful to have their expertise and guidance on ensuring these consistently strong returns.”
More significant than the one-year returns, Oswego’s 10-year rate of return was 8.4 percent, which was 1.2 percentage points higher than the NACUBO average and exceeding the average of each size endowment except the “over $5 billion” group.
This rate of return figure is significant because it is a key factor in determining how much money the foundation will pay out for its privately endowed scholarships and its dozens of other endowed funds.
The foundation manages a total of nearly 800 endowed and unendowed funds from which the university was able to award a total of 851 student scholarships during fiscal year 2023.
Last year, through both endowed and unendowed funds, the foundation provided campus with a total of $4.8 million in support. For perspective, this amount exceeds the total assets of the foundation in 2000, prior to the university hiring its first vice president for development and alumni engagement.
About the endowment
The Oswego University Foundation Inc., endowment consists of gifts and the subsequent growth of these assets due to superb investment strategies over the long term, the income from which provides a permanent source of financial support to benefit the students at SUNY Oswego. It is the university’s largest financial asset and generates income for its mission of providing an accessible, distinctive, quality education for talented students regardless of family background or economic means.
The endowment includes more than 380 individual funds, with the majority designated for student scholarships. The breakdown of the endowment by type of support provided is as follows:
- 61.6 percent to student financial aid
- 33.8 percent for academic programs and included research and endowed faculty positions
- 3.5 percent for maintenance of campus facilities
- 1.1 percent for all other purposes
-- Submitted by University Advancement