Endowment Exceeds $100 Million
For the first time in Canisius history, the college’s endowment exceeded $100 million. At $106,113,258, the endowment is more than double its amount before the beginning of the last fundraising campaign, A Legacy of Leadership, which concluded in 2012. In addition to new money raised, Canisius’ endowment had strong returns due to wise investment strategies employed by the Investment Advisory Subcommittee of the college’s Board of Trustees, during challenging economic times. The college actually saw the endowment dip to $57 million in spring 2009, only to recover and gain more than 80 percent over the past five years.
“This is a milestone for us, as we continue our ascent among regional comprehensive universities in the country,” says President John J. Hurley. “Continued growth of the endowment remains a key priority and an absolutely essential part of our efforts to keep a Canisius education affordable for deserving students.”
The endowment is treated as a permanent asset, in which a fixed percentage of a rolling three-year average of the market value of the fund is spent each year. The majority of the endowment is directed for scholarship assistance for students however it also supports faculty research and academic initiatives.
To learn more about how you can establish an endowed fund, contact Dianna Civello, interim vice president for advancement, at 716-888-8220.