Foundation endowment grows 16 percent
The Binghamton University Foundation endowment totaled $120.3 million as of June 30, 2015, an increase of 16 percent over the previous fiscal year.
Part of that growth is due to the sale of University Plaza Apartments in Vestal, which added more than $12 million in assets under management in the endowment and enabled the Foundation Board of Directors to create a Strategic Initiatives Fund.
Growth of the endowment provides crucial support across campus. In the past fiscal year, the Strategic Initiatives Fund supported student entrepreneurship, multicultural events and other diversity initiatives; need-based study abroad awards; the Summer Scholars and Artists Program; and a partnership between the University and Binghamton Police Department that involved assigning a police officer to serve as a liaison between students and Binghamton Police.