How does WSU generate private support?
The Wayne State University Foundation and the Division of Development and Alumni Affairs
The Wayne State University Foundation was established by the university’s Board of Governors in 2000 as a centralized means to encourage and manage financial support from private sources. The foundation is a nonprofit 501(c)(3) corporation. Though independent of the university, it partners with the Division of Development and Alumni Affairs in realizing Wayne State’s overall advancement objectives.
The foundation is governed by a board of directors made up of prominent business and community leaders. It is led by a chair chosen from among these individuals and a president who also holds the title of vice president for Development and Alumni Affairs.
Working together, the Wayne State University Foundation and the Division of Development and Alumni Affairs cultivate private support to advance the university’s programs and activities in teaching, research and community service. Funds raised enable Wayne State to offer undergraduate and graduate student scholarships, endow faculty chairs and professorships, advance academic and scientific programs and investigations, and enhance the campus infrastructure. During Fiscal Year 2011, Wayne State University raised more than $51.3 million in cash and gifts in kind from nearly 27,000 donors.
The Wayne State University Foundation includes an investment committee that assists the board with all investment-related decisions, including oversight of the university’s endowment. As of June 30, 2011, the end of the last reporting period, the endowment totaled $252 million and earned a 16.2 percent annualized return on investment. Earned income from the endowment provides funding for donor-identified purposes in perpetuity. Nearly two-thirds of the endowment at Wayne State is designated for student and faculty support.
The Wayne State University Foundation and the Division of Development and Alumni Affairs are focused on planning for the next major fund-raising campaign. The foundation and the division are working with university leaders to identify funding priorities and strengthen donor relationships. Within the next five years, Wayne State will be well into a new capital campaign with a goal to advance the university’s vision for growth and achievement as a nationally recognized public research institution.