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YSU Foundation five-year plan means more scholarships



Published: Wed, April 10, 2013 @ 7:30 p.m.

YSU Foundation five-year plan means more scholarships

YSU Foundation five-year plan means more scholarships

YOUNGSTOWN

Students like Luke Politsky of Poland are the focus of the Youngstown State University Foundation’s new five-year strategic plan.

Politsky said his four-year YSU Foundation full-ride academic scholarship afforded him great opportunities to be involved in YSU and the community.

A senior who will graduate this spring with a bachelor of science degree in business administration, Politsky said he plans to continue at YSU’s Williamson School of Business and pursue a master degree in business administration (MBA).

Politsky’s community service, a requirement of the YSU Foundation scholarship along with at least a 3.5 grade point average, included participation in the Penguin Pen Pals Initiative, in which YSU Foundation scholarship recipients link up with students at Harding Elementary School, and the American Cancer Society’s YSU Relay for Life.

The strategic plan, unveiled Wednesday in a program at the Williamson business school, which includes a revised Mission Statement and adds a Vision Statement, focuses on three primary areas: Financial policies and practices, governance and board development, and the foundation’s relationship with the university, said Paul McFadden, foundation president.

The plan, adopted by the YSU Foundation’s Board of Trustees in February, is designed to establish directions and priorities through 2018.

“Our goals are better communications with YSU alumni, the community and our students, and to address where we are going in the future,” McFadden said.

“As we close in on the YSU Foundation’s 50th anniversary, we believe this is no time to rest on our laurels; rather, this is an opportunity to seize the moment and assure that the YSU Foundation provides YSU and its students a strategic advantage. We are confident this strategic plan will accomplish this goal,” said Thomas Fleming, chairman of the YSU Foundation Board of Trustees.

Founded in 1966, the YSU Foundation is a private, non-profit corporation independent from the university that supports YSU exclusively, mostly through scholarships for students.

Earlier this year, the Foundation surpassed the $200 million mark in assets and is now among the top third of university endowments in the nation, and the largest public university foundation in Northeast Ohio, McFadden said.

During the 2012-2013 academic year, the YSU Foundation is providing nearly $5.2 million for more than 2,500 student scholarships at YSU. Under revised distribution guidelines in the new strategic plan, the Foundation projects increased scholarship funding next academic year, McFadden said.

About half of the foundation’s contributions came from alumni who live within 50 miles from the university. Most of the largest gifts come in the form of stock from donors who want to avoid capital gains tax, he said.

The growth of the Foundation has been impressive, and its contributions to the success of the university and its students is unquestionable,” said Garry Mrozek, vice chairman of the YSU Foundation Board of Trustees.

Read more in Thursday’s Vindicator.


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