Board of Trustees Update
We are excited for you to hear the consultant’s report in the morning. The Advancement staff spent many hours over the summer accumulating data and information and also participating in face-to-face interviews with the Bentz Whaley Flessner staff.
We are presenting a proposal the NMU Foundation Board of
Trustees tomorrow to adopt recommended giving minimums for naming opportunities at Northern. This is to insure that we are being consistent both in our gift solicitations and how we recognize major donors.
Foundation staff have also been meeting with Deans, department heads and faculty to assemble a list of funding needs across campus. We are working with Dr. Wong to prioritize this list. The list is far from complete and so far we have accumulated $28.7M in one time initiative requests and $140,000 in annual/ongoing program requests.
We are also evaluating our annual giving strategies to grow and improve. We are looking at more direct mail solicitations, market segmentation, additional student caller training and database clean up, to insure we are reaching the greatest number of prospects on an annual basis.
We have receipted over one half million in gifts and bequests the first quarter of the year. This figure does not include affinity club monies raised or public broadcasting donations.
We have disbursed $60,000 in unrestricted funds, for Student Leader Fellowship support, the Washington Center internship program, minority scholarships and student travel.
At the end of the fiscal year, our annual audit showed unrestricted assets of $1.7M, temporarily restricted assets of $16.4M and permanently restricted assets of $2.4M, which brings our total net assets to just over $20M. In the last fiscal year, $2.9 M in Foundation funds were allocated in support of NMU.