The FAMU Foundation bounced back from its sharp decline last fiscal year, increasing from $89M in 2009 to $96M in 2010 for a total gain of $7M.The foundation’s net assets were hurt by the national recession. They dropped from $114M in 2008 to $89M in 2009 for a loss of approximately $25M.
FAMU’s endowment currently ranks sixth in the State University System of Florida.
The FAMU Foundation's ability to quickly recover from the tough economy is a credit to the strong leadership it has received from chairs such as Col. Brodes Hartley, attorney Daryl Parks, Judge Joseph Hatchett, physician Joseph Webster, and physician Alfreda Blackshear over recent years.
FAMU Foundation Net Assets
2005: $94M
2006: $104M
2007: $119M
2008: $114M
2009: $89M
2010: $96M
Sources: FAMU IPEDS Reports, Chronicle of Higher Education, and Florida Trend.
