Donating to the Fund for Gonzaga helps students and our campus with support to the greatest needs. Your donation will provide flexible support for scholarships, learning resources, student and campus needs as they emerge, and important provisions for the health and safety of our entire community. You can also share stories of Zags doing good during this time and stay connected with Zag Nation on the Zags at Home web page.
Gonzaga University is funding the emergent needs of our students, and with the help of donors and funding from the CARES Act, has allocated more than $1.3 million in Emergency Financial Aid Grants to our current students. The grants support rent, books, supplies, utilities, and technology costs that have been incurred due to COVID-19 measures.
Gonzaga has also expanded institutional financial aid to student, particularly for those who have experience a change in financial circumstances resulting from COVID-19. Your support expands Gonzaga’s ability to offer such support to allow for new, and continuing, students to pursue studies at Gonzaga.
As you can imagine, Gonzaga has had to make many necessary, urgent, and unplanned decisions in response to the pandemic. Dedicated to our mission of providing an education that is accessible to all, we have pledged to refund room and board fees for those students that did not remain in GU housing; pay our federal work-study students whether they can work or not; provide campus housing and dining for those unable to go home; offer additional institutional financial aid to students, and bolster technology capabilities so academic classes can continue with as little interruptions as possible. Additionally, various other forms of revenue from events, conferences, all of which contribute to the operating budget of the University, have been negatively impacted by COVID-19. Gonzaga is committed to understanding the financial burdens our students and their families are navigating as a result of the coronavirus, and your gift—in any size—will support the education of those committed to becoming the ethical leaders our world needs most.
Construction has resumed and is on track to be completed on time to open for fall semester 2021. Initially halted due to the Governor’s stay-at-home mandate, the construction on the ISE facility was approved to resume Monday, April 27. This experience has only strengthened our resolve that Gonzaga must be a leader in STEM education to develop the engineers, medical professionals, researchers, and teachers of the future and give them the space they truly need to innovate and grow. The need for professionals in the fields of science, technology, engineering and mathematics is rapidly increasing, making Gonzaga's Integrated Science and Engineering facility a critical piece of our region's future. The continued progress on this project is a proud demonstration of the University's commitment to educating tomorrow's ethical leaders in these much-needed professions. Fundraising in support of the ISE is ongoing.
Through the great work of a highly engaged and experienced investment committee, an investment consultant and our treasury staff, the pooled endowment portfolio performance has been consistently strong. As evidenced in the most recent annual study of higher education endowments, Gonzaga’s endowment net investment return for the year ending June 30, 2019, was among the top 10% in the nation for the three-, five-, and ten-year annualized periods. This represents the sixth consecutive year where such returns were in the top third in the nation.
More recently, particularly in the first calendar quarter of 2020, performance was down approximately 13% for the quarter, April and May 2020 were periods of strong market rebound. Our early investment results show that notwithstanding a tough Q1 2020, the endowment pool return will approximate 5% for the fiscal year ending May 31, 2020.
We also recognize the continued support of our students through expansion of current endowments and the creation of new endowments has, and remains, a strategic priority for Gonzaga.
Endowment spending for the upcoming year has been approved with an input rate of 4.5%, consistent with the past year. Any spending that would otherwise cause an individual endowment to go “underwater” (an endowment is underwater if the fair market value of the endowment drops below the original gift amount) will be fulfilled by the unrestricted operating budget. Endowment spending from the pooled endowment for the coming academic year will approximate $10.0 million, an increase of approximately 7.0%.
We are so grateful for these opportunities! Please contact Erin Shields, Director of Alumni and Employer Engagement, at firstname.lastname@example.org to get started.