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Declining Foundation Funds Means Less Money For FSU

December 5th, 2008 by Mike Vasilinda

Florida State University’s Foundation has lost more than 100 million dollars this year. The fund is now at 318 million dollars, down from 424 million. The foundation gave 14.7 million to the school last year. Foundation President Charles Raspberry says the decline could mean less money going to the university next year.

“It’s for scholarship support, to support faculty who are in endowed positions, some of it goes to build facilities,” Raspberry said. “The new Student Success Center came from private support, then got matched by the state. That’s where a lot of it goes. This past year we gave the university 14.7 million from the endowment that we had. So I’m hoping in coming years that won’t go down significantly.”

The Foundation says it will not concentrate on large gifts this coming year, but will instead focus on gifts in the one hundred dollar to one thousand dollar range.

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