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Endowment managementSJSU's endowment transitions to new Tower FoundationThe Tower Foundation began managing the university's endowment in January 2006. Established as a new entity solely dedicated to philanthropy, the Tower Foundation is building bridges with alumni and friends by improving services, stewardship and donor support. According to President Don W. Kassing, the Tower Foundation will provide a clear system for accepting and acknowledging donors' gifts and for managing the university's endowment to achieve maximum returns. At approximately $40 million, SJSU's endowment is an important investment in the university. "An endowment provides a financial foundation that impacts student success long after the initial gift is made," says Vice President for University Advancement Fredrick S. Najjar. Endowment dollars are vital because they generate income, a portion of which is available year after year to sustain the highest quality of education and research. With California's difficult funding environment, university endowments are no longer a luxury, but a necessity. They are a way to combine a donor’s vision with SJSU’s needs and objectives. "Endowments create permanent support for student scholarships, academic chairmanships or fellowships, and special departmental funds," says Provost Carmen Sigler. "They can also provide the possibility of attracting strong, vital talent to San José State University so we may continue to expand our mission of research and education." As the university increases its efforts to grow the endowment, the Tower Foundation will provide a professional investment team that focuses on what risks the portfolio should accept, how performance can be improved, where expenses can be trimmed, and how reporting can be improved. You can establish your endowment with a gift of cash, securities, real estate, or other assets. The university works with you to create a fund agreement that will guide the use of your gift both now and in the years to come. |
Tower Foundation
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