SUNY Canton Foundation Assets Rise Nearly 40 Percent in 2007
A remarkable increase in assets of nearly 40 percent has enabled the SUNY Canton Foundation to award a record number of scholarships this year. Foundation assets have surpassed $14 million, an increase of nearly $4 million from last year’s total.
The increase was most evident last week, when approximately 200 scholarship recipients attended the Foundation’s Scholarship Luncheon with scholarship donors and college officials. Nearly $300,000 in scholarship assistance was represented at the luncheon. This year’s event saw not only the largest number of scholarships, but also the largest total dollar amount awarded in college history.
“We are extremely fortunate to have so many wonderful alumni and friends who believe in the ongoing success of our students,” said SUNY Canton President Joseph L. Kennedy. “Their investment in our college benefits our students, the college, and the entire North Country. Many of these bright scholars would not otherwise be able to afford a college education.”
Students from almost every curricula at the college received a scholarship this year. “The Scholarship Luncheon is a special event where scholarship recipients are able to meet the donors who have so dramatically impacted their lives,” Vice President for Advancement David M. Gerlach said. “It’s often an emotional experience for both the recipients and the donors and it reinforces why we work so hard to make these scholarships possible.”
The Foundation’s total assets have grown by more than $9 million, or more than 280 percent since 2001. The growth in assets is a result of an increase in giving as well as investment growth and interest. The Foundation supports a variety of endeavors.
“Scholarships are just one of the outlets of Foundation expenditures,” Gerlach said. “The College Foundation also supports continuing education for faculty and staff members in addition to funding research and campus enhancement initiatives. The benefits are far-reaching and dramatic.”
The Foundation primarily uses donations to help defray the continually-increasing cost of higher education. Over the last several years, the Foundation has re-invested $7 million to fund college programs and initiatives. Many of the new highly-visible initiatives come in the form of scholarships, assistantships, or in a variety of ways that positively effect students’ overall college experience.