A WORLD OF GOOD

“Furman meant an open door to a dream.”

These words, shared recently by a Furman alumna, affirmed the work of our faculty, staff, students and alumni. Gathered as part of a collection of alumni stories, this simple yet moving statement says everything. The idea of open doors and ambitious dreams speaks to the fundamental purpose of philanthropy. In challenging times, such as the ongoing pandemic, the optimistic act of philanthropy is what stirs our dreams and feeds our spirit.

The philanthropy from Furman’s supporters, along with the work of the university’s investment office and a robust market, has helped fuel significant growth in Furman’s endowment. The numbers reflected in fiscal year 2022 are evidence of that success. They are impressive. Fiscal year 2022 saw Furman raise more than $43.5 million from more than 10,000 donors, including:
• 1,700 first-time donors.
• A 53% giving participation rate from the Class of 2022.
• A 44% giving participation rate from employees.
• The creation of 29 new scholarships.

These numbers tell a remarkable story of impact. Every number represents the dream of a Furman student to heal, to teach, to perform, to research, to produce, to analyze, to compete, to belong, to lead, and to change their community and the world. Every gift our supporters made this past year to Furman and every endowment dollar that grew as a result throws doors open for Furman students, propels them through those doors, and ultimately inspires them to realize their dreams for the benefit of us all.

The year also saw the commitment of multiple transformational gifts. Robert ’83 and Margaret Hill ’83 supported Furman’s Institute for Innovation and Entrepreneurship with an endowment fund. To recognize that commitment, the institute was renamed The Robert and Margaret Hill Institute for Innovation and Entrepreneurship.

CHRIS ’78 AND ANDREA BORCH AND THE BORCH FOUNDATION GAVE $5 MILLION TO ESTABLISH AN ENDOWMENT TO PROVIDE CROSS-COUNTRY/TRACK AND FIELD SCHOLARSHIPS.

A WORLD
OF GOOD

“It opened the door not only to a great education, but being on the track team was the beginning of learning some lessons that have just been invaluable to me in every aspect of my life.”

CAMERON PONDER ’22 was able to pursue his dreams to compete nationally and study at Furman because of a track scholarship established by Chris Borch ’78, his wife Andrea and the Borch Foundation.

ENDOWMENT POOL AND TOTAL ENDOWMENT

The university endowment provides a significant source of revenue that supports the operations and programs of the university. As of June 30, 2022, Furman’s total endowment was valued at $812 million, of which $606 million was invested in the endowment pool (the portion under the decision-making authority of the university). The remainder of the endowment is separately invested or managed by other entities, e.g., The Hollingsworth Funds.

ENDOWMENT DISTRIBUTION

TOTAL ENDOWMENT DISTRIBUTED

During the 2021-2022 fiscal year, approximately $32.5 million was distributed from the total endowment. These monies, along with other distributions from university working capital, contribute approximately 20.7% of the university’s annual budget.

ASSET ALLOCATION

The asset allocation breaks down as 7% fixed income, 11% real assets/natural resources, 27% private equity/venture, 16% U.S. equities, 16% hedged strategies, 18% international equities and 5% cash

$40,183

AVERAGE FINANCIAL AID PACKAGE

90.2%

OF STUDENTS RECEIVED SOME
FORM OF FINANCIAL AID

$69,900,722

TOTAL FINANCIAL ASSISTANCE FURMAN
AWARDED TO STUDENTS

Furman’s mission is to challenge and support lifelong learners through deep inquiry, transformative experiences, and guided reflection, all of which lead to lives of meaning and consequence. Meeting our mission is more important than ever, and you and your philanthropic investment in Furman inspire our work. Thank you for opening doors and dreaming with us.

Willie Cornish’s creative pathway started even before college, when he was composing music as a young teen. At Furman, he gave the tuba a try during the pandemic to help round out an ensemble. He eventually won the Mattie Hipp Cunningham Scholarship and an honorable mention in the New York Youth Symphony’s First Music competition. After graduating this past spring, Cornish began a master’s composition program at the University of Michigan – for which he earned a full scholarship. Cornish hopes to pursue a career in commercial composition for TV or movies and eventually to teach composition.