7/21/2009
TWO GIFT-MATCHING PROGRAMS EXPERIENCE DELAYS IN FUNDING
Two important matching grant programs established by the state of Florida — the Alec P. Courtelis Facilities Enhancement Challenge Grant Program and the Major Gifts Trust Fund Matching Grant Program — are experiencing substantial delays in funding by the Florida Legislature. Both programs leverage donors’ private gifts to state universities.
“These programs have been extremely valuable to the success of the academic programs funded by gifts that have been matched by the state of Florida,” said Paul Robell, UF vice president for development and alumni affairs. “We want to assure donors to the University of Florida who have made gifts eligible for matching state funds through either program that we are hopeful that their gifts will ultimately be matched.”
Funds received from donors for building projects awaiting state matching funds will continue to be prudently invested by the University of Florida Foundation and have not experienced any market losses.
The values of endowment gifts in the pending list for matching funds from the Major Gifts Trust Fund have realized some losses as the markets declined. However, the companion matching amount requested is fixed as of the date of the gift.
These visionary matching grant programs have assisted the University of Florida in making significant strides over time and represent a successful public-private partnership.
