The Youngstown State University Foundation has surpassed the $200 million mark in assets and now is in the top third of university endowments in the nation.
The foundation reported $207 million in assets in fiscal year 2012, according to the annual endowment survey by the National Association of College and University Business Officers and the Commonfund Institute.
That ranks the foundation as the largest endowment among public universities in Northeast Ohio — larger than the University of Akron, Kent State and Cleveland State — and the sixth-largest among all public universities in the state. Nationally, the YSU Foundation ranks 257th out of 843 colleges and universities included in the survey.
“This is a tremendous milestone that reflects the dedication and commitment of thousands of supporters across the region and nation,” said Thomas Fleming, chairman of the foundation’s board of trustees. “Over the course of nearly a half a century, the foundation has provided thousands of students the opportunity to experience the academic excellence of a YSU education. Today, as we recognize our evolution and growth as a foundation, we also celebrate the success of the students we serve.”
Founded in 1966 by former YSU President Howard Jones, the YSU Foundation is a private, nonprofit corporation independent from YSU that supports YSU exclusively, mostly through student scholarships.