SPU Endowment Grows to $71 Million

Overall Giving to University Increases

During fiscal year 2013–14, the University received generous contributions from alumni, parents, and friends to capital, endowment, restricted, and unrestricted funds. As of April 30, 2014, total giving to the University had increased by more than $400,000, or 5 percent, over the previous fiscal year.

University, Parents Funds Receive More Than $1 Million

During fiscal year 2013–14, donors gave more than $1 million to SPU’s University Fund and Parents Fund. These unrestricted funds support outstanding academic programs, faculty salaries, learning technologies, and service opportunities for students. Unrestricted gifts also help keep an SPU education affordable by funding scholarships for students.

SPU Endowment Grows to $71 Million

Students walk to class As of April 30, 2014, the Seattle Pacific Foundation assets under management exceeded $116 million, $71 million of which is the SPU endowment. The endowment grew by $8.9 million since June 30, 2013, because of strong investment performance and nearly $1.5 million in gifts, including several estate gifts.

New Endowments Established in 2013–14

Nearly a dozen new endowments were established in 2013–14:

  • Cynthia L. Fitch-Steenson Memorial Scholarship Endowment
  • Joan P. Nienhuis Physics Scholarship Endowment
  • Engberg Family Scholarship Endowment
  • Largent Rinnan Gateway Scholarship Endowment
  • Margaret Delphine Baker Dodson Scholarship Endowment
  • Crawford Family Scholarship Endowment
  • Lewis E. and Jacqueline M. Dickinson Scholarship Endowment
  • Donald B. “Don” Summers Memorial Scholarship Endowment
  • Shea Clinical Psychology Research Scholarship Endowment
  • Joy Fisher Hammersla Social Psychology Scholarship Endowment
  • Tom W. Wall and Family Scholarship Endowment

Jon Meis Engineering Scholarship

During Undergraduate Commencement, SPU President Dan Martin announced a new scholarship for engineering students, named for and in honor of the graduating senior who helped subdue the gunman during the campus shooting on June 5, Jon Meis.

“Rise Above” Fund

In the wake of the June 5 shooting, because many had been asking how they could contribute funds to support SPU students who had been directly affected, the “Rise Above” Fund was created to remember and rise above the tragedy.

Teel Family Receives Philanthropy Award

At the November 14, 2013, President’s Circle Dinner, the Teel Family was honored with the President’s Award for Philanthropy. This award is given annually to an individual, couple, or family who have made a significant impact on SPU by generously investing their time, talent, and financial support.

Donors Fund Royal Brougham Renovations

Royal Brougham Pavilion Longtime SPU supporters Al Hendricks ’54 and his wife and son, Narci Hendricks and Manny Hendricks, funded a renovation of Royal Brougham’s Falcon Club (formerly the Falcon Lounge) with new flooring, ceiling, lighting, and furniture, and an open view of the basketball court. Donors also funded the renovation of Brougham’s weight room, which had had its last major renovation in 1980. The renovation included new windows and flooring, multi-function weight machines, racks, and free weights.

Giaimos Underwrite New Engineering Lab at SPU

Edward and Sue Giaimo, parents of engineering graduate Whitney Giaimo ’12, pledged $40,000 in September 2013 toward the creation of the Edward C. Giaimo Mechanical Engineering and Machine Shop at SPU. Ed, director of hardware development at Microsoft, and Sue, a certified educator and community relations manager retired from Puget Power, are longtime champions of science and technology in the Pacific Northwest. The gift recognizes the legacy of three generations of Edward Giaimos, each of whom excelled in engineering or science careers.