proudsioux Posted May 4, 2007 Share Posted May 4, 2007 WDAZ reported UND to get another substantial gift of moeny. Quote Link to comment Share on other sites More sharing options...
WiSioux Posted May 4, 2007 Share Posted May 4, 2007 Large Athletic Donation on the Way I'm sure there is something under the facilities thread... but since this thread was started... any ideas?!? Quote Link to comment Share on other sites More sharing options...
GeauxSioux Posted May 4, 2007 Share Posted May 4, 2007 Large Athletic Donation on the Way I'm sure there is something under the facilities thread... but since this thread was started... any ideas?!? I think it's Bin. Quote Link to comment Share on other sites More sharing options...
Smoggy Posted May 4, 2007 Share Posted May 4, 2007 I'm sure someone is purchasing us the moon! Quote Link to comment Share on other sites More sharing options...
The Walrus Posted May 4, 2007 Share Posted May 4, 2007 Large Athletic Donation on the Way I'm sure there is something under the facilities thread... but since this thread was started... any ideas?!? http://www.grandforksherald.com/articles/i...ection=homepage My Guess.... Quote Link to comment Share on other sites More sharing options...
82SiouxGuy Posted May 4, 2007 Share Posted May 4, 2007 http://www.grandforksherald.com/articles/i...ection=homepage My Guess.... That may be another future gift, but I think that it would be really quick to announce something that soon. Quote Link to comment Share on other sites More sharing options...
The Sicatoka Posted May 4, 2007 Share Posted May 4, 2007 http://www.grandforksherald.com/articles/i...ection=homepage My Guess.... 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 ... Quote Link to comment Share on other sites More sharing options...
UND92,96 Posted May 4, 2007 Share Posted May 4, 2007 Would that be the same guy who works for the UND Alumni Association? Interesting ... Yes, it's the same guy. My guess is that Ms. Stone's assets were primarily in a trust, with the UND Foundation acting as trustee. Quote Link to comment Share on other sites More sharing options...
GeauxSioux Posted May 4, 2007 Share Posted May 4, 2007 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. Quote Link to comment Share on other sites More sharing options...
WiSioux Posted May 4, 2007 Share Posted May 4, 2007 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 Quote Link to comment Share on other sites More sharing options...
The Sicatoka Posted May 7, 2007 Share Posted May 7, 2007 The press conference for this is starting right about .... now. Quote Link to comment Share on other sites More sharing options...
The Sicatoka Posted May 7, 2007 Share Posted May 7, 2007 And the answer is .... $20 million. Thank you, Mrs. Engelstad. And all of your family. Quote Link to comment Share on other sites More sharing options...
SiouxMD Posted May 7, 2007 Share Posted May 7, 2007 The press conference for this is starting right about .... now. I had not heard anything more about the donation since the initial announcement last week...this just might make my Monday tolerable. Quote Link to comment Share on other sites More sharing options...
WiSioux Posted May 7, 2007 Share Posted May 7, 2007 Of the $20 million gift, $4 million will be designated toward scholarships for underrepresented minority groups in UND Quote Link to comment Share on other sites More sharing options...
star2city Posted May 7, 2007 Share Posted May 7, 2007 And the answer is .... $20 million. Thank you, Mrs. Engelstad. And all of your family. Very diversified in its scope: $4 million will be designated toward scholarships for underrepresented minority groups in UND Quote Link to comment Share on other sites More sharing options...
GeauxSioux Posted May 7, 2007 Share Posted May 7, 2007 Wow, another $20 million to the endowment fund!!! Love it! Thank you Engelstads. Quote Link to comment Share on other sites More sharing options...
Sioux-cia Posted May 7, 2007 Share Posted May 7, 2007 Holy Cross!!! Thank you Engelstad Family!!!! Quote Link to comment Share on other sites More sharing options...
puck Posted May 7, 2007 Share Posted May 7, 2007 Holy Cross!!! Thank you Engelstad Family!!!! 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? Quote Link to comment Share on other sites More sharing options...
The Sicatoka Posted May 7, 2007 Share Posted May 7, 2007 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). Quote Link to comment Share on other sites More sharing options...
Riverman Posted May 8, 2007 Share Posted May 8, 2007 Wow! 20 million! Quote Link to comment Share on other sites More sharing options...
star2city Posted May 8, 2007 Share Posted May 8, 2007 Endowments at regional university and college foundations (in millions): Minnesota $2224 Macalester $577 Carleton $571 St Thomas $300 St Olaf $261 St John Quote Link to comment Share on other sites More sharing options...
Hammersmith Posted May 8, 2007 Share Posted May 8, 2007 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. Quote Link to comment Share on other sites More sharing options...
star2city Posted May 8, 2007 Share Posted May 8, 2007 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. Quote Link to comment Share on other sites More sharing options...
Hammersmith Posted May 8, 2007 Share Posted May 8, 2007 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. Quote Link to comment Share on other sites More sharing options...
SiouxMD Posted May 8, 2007 Share Posted May 8, 2007 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? [url="http://www.grandforksherald.com/articles/index.cfm?id=37078 Quote Link to comment Share on other sites More sharing options...
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