Note: There are some hard questions that really need to be asked around Missouri Southern. And this post’s title is one of them. As we count down to the start of the school year, we will suggest things that the media should look into.
The table of contents to the new book edited by RTV looks like a how-to manual for bringing in the cash. We hope so, because the U needs it.
According to documents available free online from the National Center for Charitable Statistics, the Missouri Southern Foundation is in deep doo-doo when it comes to unrestricted net assets. Unrestricted net assets (UNA) are resources the university is free to use for general purposes. Restricted assets have strings attached (usually by the donor).
According to the Foundation’s most recent 990 forms filed with the Internal Revenue Service, it was down to $820,402 in UNA at the end of fiscal year 2009. FY09 was the period from July 1, 2008 through June 30, 2009. (The foundation will likely file its FY10 form sometime this fall)
The $820,402 is down almost half from the $1,593,234 in UNA the foundation held on June 30, 2008 and the $2,223,219 in UNA it reported as of June 30, 2007.
Didn’t the economic meltdown kill everyone? Yes, but during the same time frame Missouri Western’s foundation increased UNA from $3,466,939 to $3,912,889 as of June 30, 2009. Closer to home, Pittsburg State University has seen heavy decreases in UNA over the same period from a high of $29.943,740 on June 30, 2007 to $11,861,905 on June 30, 2009. All figures are from the respective foundations’ 990 reports available on the NCCS website.
Speck’s co-editor on the book wrote a chapter with the following description:
Fundraising is not something a president or academic dean can delegate or ignore. Presidents and deans play the leading role in cultivating and soliciting major gifts.
Since Speck arrived, he has delegated it to three new hires. We sure hope they can make it rain. Soon.