EMU Foundation surpasses fundraising goal, nearly doubling previous year’s success
Eastern Michigan University is starting to get on the fundraising bandwagon too as its foundation sets a new record this year.
A little less than $8 million might not seem like a lot of money to some institutions of higher learning but it’s big to news at Eastern Michigan University.
That’s how much money the Eastern Michigan University Foundation has raised in 2007-08 fiscal year. Of that money, $7.1 million was in cash while $800,000 came from in-kind contributions. This year’s numbers almost doubled last year’s total of $4.2 million.
Of the $7.9 million, $2.2 million came from the trust of renowned sculptor and potter Jean Noble Parsons. That money will be used to establish the Jean Noble Parsons Center for the Study of Art and Science on 86 wooded acres near Traverse City and Interlochen.
Another $700,000 plus came from the estate of former university staff member Helen Rudin and Catherine Sesi, longtime friend of Ypsilanti and EMU. That money will support scholarships in music and general studies. The Kresge Science Initiative Challenge chipped in $250,000 to help build a $1 million science equipment endowment.
University foundations have become the new black for bringing money into higher education. Foundations for the likes of the University of Michigan and Harvard University control billion of dollars and help fast-track academic, research and campus facility improvements.
Source: Eastern Michigan University
Writer: Jon Zemke
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