MONMOUTH, Ore. –乐播视频 Foundation released its annual report for the 2022-2023 fiscal year. The report includes total contributions to the Foundation for 2022-2023, as well as recent fiscal year results on Endowment, Scholarships, and Competitive Grants.
Highlights
Contributions totaled $2,889,359 for 2023 and include all new outright or committed private gifts and grants made to the 乐播视频 Foundation from individuals, foundations, and corporations. Contributions increased almost 50 percent in 2023 from 2019.
The Competitive Grants program is funded by unrestricted gifts to the WOU Foundation. Each Spring, departments across campus apply for awards of $1,000 or less to support a variety of campus activities. Projects that have a measurable impact on the greatest number of students and provide visibility to the campus or external community are given the most consideration. Grant awards have almost doubled in 2023 from 2019.
Scholarships and student aid: The WOU Foundation manages hundreds of annual and endowed scholarships, as well as several emergency student aid funds. Awards are made based on the criteria set by the donor and agreed upon by the University and Foundation. The Foundation awarded over one million dollars in student scholarships in 2023, an increase of 44 percent from 2019.
鈥淎s a graduate of Western and as a first-generation college student, I owe a lot to Western. Now part of the 乐播视频 Board of Trustees, it鈥檚 important that I give back to the school that has given me so much,鈥� said alumnus and trustee, Cristian Mendez-Garcia ’08.
Endowments: An endowment is a donation made to the 乐播视频 Foundation on the condition that it is used to advance the mission of the school for the long term. Most endowments are designed to provide a permanent source of income for the university by keeping the original amount invested and using the accrued investment income for its charitable purpose. The WOU Foundation’s endowment has grown over 40 percent since 2019 due to the generosity of donors through outright gifts, bequests, and other planned gifts, as well as investment earnings.
鈥淚n 1972 I began college at Western, which turned out to be one of the best decisions I ever made. The faculty, staff, and students I met have added so much to my life and I consider many of them my friends and family,鈥� said alumnus Frank Vanderburg 鈥�73. 鈥淪upporting present and future students is a great way to repay what I have received.鈥�
Katie Wojke, vice president of advancement and executive director of the 乐播视频 Foundation adds that growth in areas that directly impact students would not be possible without these generous contributions. 鈥淭hank you to each and every donor for helping to provide access to higher education and supporting Western鈥檚 impact on the community,鈥� she adds.
###
The 乐播视频 Foundation was founded in 1965 and is the fundraising arm of 乐播视频. A nonprofit corporation, governed by a volunteer Board of Trustees with IRS 501(c)3 status, the WOU Foundation鈥檚 scholarship program includes more than 250 donor-funded scholarships. In addition, the foundation manages nearly 300 funds for academic and student programs. As of 2023, the WOU Foundation has approximately $26 million in assets and a permanent endowment of $22 million.听