OXFORD – The Univer-sity of Mississippi's alumni and friends contributed approximately $103 million in private support during FY19, a year that saw the university's endowment grow to $736 million – the largest in the state at a public university.
For the eighth consecutive year, new gifts aimed at strengthening UM totaled in excess of $100 million, giving the university essential resources to continue providing exceptional experiences for students, faculty, researchers, health care patients and providers, citizens served by outreach efforts, and visitors to its campuses.
Interim Chancellor Larry Sparks praised donors for endowed gifts that have a far-reaching impact.
"The growth of our endowment symbolizes the enduring commitment of alumni and friends to invest in future generations, and we are most grateful for their support," Sparks said. "This level of private support reflects the trust our alumni and friends place in the University of Mississippi's ability to prepare the future leaders and innovators.
"Gifts to higher education also have a far-reaching impact on the economic climate of Mississippi and beyond, and the resources ultimately elevate the quality of life for everyone."
State funds account for only about 12.2 percent of UM's operating revenues, making private support all the more crucial to the flagship university. More than 19,000 donors made gifts this year to strengthen the university.
"Once again, Ole Miss alumni and friends have proven how deeply committed they are to expanding exceptional educational opportunities," said Charlotte Parks, vice chancellor for development. "Our stakeholders provide crucial resources that impact students' lives, our programs and our outreach across our campuses and the nation."
The university's endowment – permanently held funds invested and managed by a committee of alumni, university and foundation leaders – benefited from a 4.8 percent return on investment, said Wendell Weakley, president and CEO of the UM Foundation.
"Our endowment continues to grow, albeit at a slower pace as significant volatility has returned to the investment markets," Weakley said. "With our 10-year return at 8.9 percent, we exceed our peer group.
"We are grateful for the continued support of our loyal donors, and believe we are well positioned for the headwinds that may lie ahead in the markets."
Support for the Oxford academic community totaled $51.8 million. Donors invested in students, faculty and programs, which strengthen the institution's growing national academic reputation.
The first Ole Miss Giving Day enjoyed success, generating $542,989 in gifts. There were 965 donors, including 242 first-time donors.
