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             Just what is an
It is a donation of money designed to keep the principal amount intact, while using the investment income to sup- port a specific program or service (in this case the Veter- ans Education Program). The specific purpose of the use of income cannot be changed by the institution. This is assured through a written agreement, and the institution (in this case the Fresno State Foundation) is also governed by the California Attorney General’s office, and is bound by a Federal law known as UPMIFA.
As of June 30, 2020, the Fresno State Foundation had Net Assets of over $223 million, including an endowment pool of over $155 million. All of the Fresno State Foundation’s 785 individual endowments, while accounted for individ- ually, have their assets pooled for investment purposes, thus assuring proper oversight, while creating efficiencies in minimizing costs and maximizing investment returns. The Foundation’s Board of Governors, through their In- vestment Committee, have fiduciary responsibility over the endowment pool, and have engaged an outsourced investment advising firm to select the underlying invest- ments that align with their Investment Policy Statement.
For the twenty years ended June 30, 2020, The Founda- tion’s average annual rate of return on their endowment pool, net of investment expenses, was 7.13%.
Keith is the Director of Fresno State Foundation Financial Services
   Thank you for believing in us.
Thank you for giving our brave women and men an opportunity to pursue a university degree.
Thank you for supporting the Veterans Education Program Endowment.
Kind regards,
Scott Moore, Ph.D , Dean
If you are interested in supporting this program and our permanent endowment, please give us a call.
We would be happy to speak with you about your philanthropic goals.
                     A C C E S S - The Division of Continuing and Global Education 5

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