Samford University’s board of trustees established a new endowment fund at its regular winter meeting Dec. 1 in Birmingham.
The new William Self Propst Fund was established using gifts from a Samford alumnus and Huntsville pharmaceuticals executive. Earnings from the fund will be used for maintenance and improvements for William Self Propst Hall, the university’s primary academic building for sciences, and for academic and program support for the McWhorter School of Pharmacy and natural sciences in the Howard College of Arts and Sciences. A report showed that Samford’s endowment is valued at about $221 million, up about 5 percent for the current fiscal year. As a result, net assets are up $11.6 million over the previous year. Trustees also heard that while giving has been impacted by the global economic situation, year-to-date giving from alumni and parents is well ahead of previous years.
Also during the meeting, Birmingham attorney W. Clark Watson was re-elected board chairman. Other officers are former Alabama Gov. Albert P. Brewer, of Birmingham, vice chairman and executive committee chairman; Birmingham businessman John E. Bell Jr., secretary; and retired businesswoman Wynema J. Lowry, of Cullman, assistant secretary.
Share with others: