NATCHITOCHES, La.--(BUSINESS WIRE)--The Northwestern State University Foundation secured over $7 million in private contributions in 2023, exceeding the previous year total by over $2 million and marking the third straight year that the Foundation has recorded increases in contributions year over year.
The Foundation also announced record endowment returns and growth in 2023, outperforming peer educational institutions and exceeding state and national averages. A recent analysis conducted by Clearview Fiduciary Alliance ranked the NSU Foundation in the first quartile compared to peer institutions across the country with a return of 16 percent. This boost in performance and increases in endowment contributions led to overall growth of the portfolio. While other institutions in Louisiana grew an average of 2.5 percent last year, the NSU Foundation endowment grew 8.4 percent, exceeding the national average of 7.7 percent, according to the National Association of College and University Business Officers. Its study examined 688 endowments with combined assets of $839 billion.
NSU Foundation Executive Director Drake Owens attributed fundraising and endowment performance success to key support from donors, staff and volunteers as well as the Foundation’s proactive approach in developing partnerships with business, industry and organizations that promote education and economic development.
“Contributions from major donors and strategic positioning by the NSU Office of Development and members of the NSU Foundation Fundraising and Finance/Investment committees resulted in a record year for private support and endowment performance,” Owens said.
NSU President Marcus Jones expressed his gratitude stating, “The display of support by our donors shows that NSU is an institution worthy of investment. The Office of Development works tirelessly to garner support and their dedication to securing private funds is evident and greatly appreciated.”
“Our donors are committed to investing in the future of NSU and have showed tremendous generosity and support,” said NSU Director of the Office of Development Jill Bankston. “We have a great team and their passion for NSU and desire to succeed continues to pay dividends for our institution.”
The ripple effect of the Foundation’s success extends throughout the university’s service region. A 2022 economic impact study reported that NSU contributed nearly $520 million to the economy of northwest and central Louisiana and supported the creation of 7,200 jobs in the region.
“The outlook for fundraising and endowment performance success is positive as 2024 trends indicate the NSU Foundation is on track for another record year for fundraising and endowment growth,” Owens said.
This Friday, March 15, the NSU Foundation will host the annual Flavor of Louisiana, a celebration of spring and Louisiana cuisine, with proceeds going towards student scholarships, faculty development and academic enhancements. Please visit https://nsu.la/flavor for tickets and additional information.
