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Table of Contents
Letter from the President
Highlights: An Engaged University
Highlights: The Impact of Giving
Real Estate and Projects
The Financials: The Endowment
The Financials: Support to JMU
The Financials: Resource Utilization
The Financials: Consolidated Financial Statements
2015 Board of Trustees

The Financials: The Endowment

Achieving great things today at James Madison University requires a healthy endowment. As state funding for higher education continues to diminish, JMU will increasingly look to a growing endowment to give access to deserving students, lessen their debt and to support the Madison programs that innovate solutions to societal issues.

The JMU Foundation participated in the National Association of College and University Business Officers and Commonfund Institute 2014 Fiscal Year Study of Endowment where we were ranked 520 out of 854 respondents, slightly above the lower third. JMUF’s fiscal year 2014 endowment of $78 million was below the median of $113 million reported in the survey. As of 2015, our endowment has grown to almost $82 million.

Growing the endowment is absolutely vital to provide support to JMU’s bold new vision to become the national model of the engaged university. The foundation’s goal is to exceed $100 million in endowments by 2019, the James Madison University Foundation’s 50th anniversary.

Endowments at Market Value

Endowment Growth

It is imperative that we continue to grow our endowment for scholarship and faculty awards. Currently, JMU receives about 28% of its operating budget from state appropriations and we saw a decrease in state funding of about $1.9 million from the last school year. The State Council for Higher Education of Virginia said in its 2015-2016 annual report that tuition and fees show that such budget reductions “have placed Virginia’s public higher education funding in a systematic imbalance and put the affordability and accessibility of Virginia’s nationally acclaimed system at further risk.”

Endowment Dsignations

The careful management of the JMU endowments is more important than ever so that Madison may continue to grow and expand, as well as maintain current projects and initiatives. 

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