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Another gift


proudsioux

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Stone still was actively involved in her gas station business and her community up until she passed away Tuesday, according to David Miedema, her personal representative.

Would that be the same guy who works for the UND Alumni Association? Interesting ...

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That may be another future gift, but I think that it would be really quick to announce something that soon.

I agree, 82Sioux, that she may have left a gift for UND, but this isn't it. The timeline is too quick. Louise Ferguson passed away last spring and the announcement regarding the gift was made just last month.

Additionally, does anyone know Ms. Stone's involvement in athletics? She has set up two endowments, but neither were for athletics.

Stone also set up two endowments; one for entrepreneur internships for women entrepreneurs at the Center for Innovation at UND in 2005 and another Ethel Stone Aviation Endowment with the UND Foundation to support the Center for Aerospace Sciences in 2001.
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I had lunch with the President this afternoon (yes, I'm a Presidential Scholar) and while he was sitting at our table eating he mentioned the announcement of a $20 million gift next week... it could potentially be this, however I thought he said that it was going to academics... but he mentioned a few other gifts that had previously been announced as well... so I might have been confusing them

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Holy Cross!!! :silly:

Thank you Engelstad Family!!!! :ohmy:

I know that this was discussed somewhere on this forum before, but about how much annual income will be generated from the $4 million endowment for mens hockey. How close does this bring us to having all mens hockey scholorships funded through an endowment?

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UND (based on what I've read) tries to get 4% annual, spendable return on endowments.

Returns above that are put back in to the endowment to grow the principle amount.

For example: $4 million.

If you get 4% you'll have $160 thousand to spend annually. But what you really want is a higher return, for example 6% (I'd like 12% but why be that greedy in an example). That'd get you the 4% for the annual operations and the other 2% ($80k) to put back into the kitty ($4.080 million to start at next year).

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Endowments at regional university and college foundations (in millions):

NDSU $69 78, $103 121 (assets)

Your numbers were a year old. I think the endowment figure is even a bit higher than that, but I'm not sure by how much. Also, some of the $92MM that has been raised during Momentum has not benn added to that total.

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Your numbers were a year old. I think the endowment figure is even a bit higher than that, but I'm not sure by how much. Also, some of the $92MM that has been raised during Momentum has not benn added to that total.

Concordia raised "$100,000,000" million in its fund drive, but how much of that is actually going to flow into it's endowment in the near term? Campaign drives include pledges that may be decades from actually being recognized as well as paying for building funds, one-time expenses, improvements, or revolving operating costs (athletics). Doubt much of NDSU's $92 million Momentum drive actually shows up in the endowment: there's too many other pressing needs at NDSU, namely paying for the downtown business school complex and funding a BSA.

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Doubt much of NDSU's $92 million Momentum drive actually shows up in the endowment: there's too many other pressing needs at NDSU, namely paying for the downtown business school complex and funding a BSA.

Actually, a minimum of $41MM of the original $75MM goal is going towards endowments. How much of the $17MM that's been raised above and beyond the original goal will go towards endowments, I'm not sure. Since endowment funds accounted for over 50% of the original goals, I'd bet at least $7-10MM of the extra funds will be used for that purpose.

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