Billion-dollar milestone

A report released in January by the National Association of College and University Business Officers lists UD among 56 universities whose endowment has passed the $1 billion mark. The endowment has grown from $326 million in 1991.

President David P. Roselle earlier had announced the milestone to the Board of Trustees, saying the fund supports the University’s commitment to competitive compensation, scholarships and fellowships, as well as an enhanced living and learning environment.

He credited the generosity of UD’s friends, the work of the Office of University Development and strong management, particularly by the University’s chief investment officer, Mark Stalnecker, for the growth of the endowment. Many donors have provided scholarship support, while others have given to support professorships, landscaping, graduate fellowships, research and services for persons with disabilities, athletics and a wide range of academic programs.