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Eastern Kentucky University Development & Alumni Engagement
The Eastern Kentucky University Foundation operates as the philanthropic and asset-management backbone of EKU, a regional public university in Richmond,...
Eastern Kentucky University Development & Alumni Engagement
The Eastern Kentucky University Foundation operates as the philanthropic and asset-management backbone of EKU, a regional public university in Richmond, Kentucky. Led by Vice President Mary Beth Neiser under President David McFaddin, the foundation channels gifts into scholarships and university programs while overseeing a mix of real assets and an investment portfolio. Key real property holdings include the Elmwood Estate and the University Club at Arlington in Richmond. The foundation's board, chaired by Suzanne Fawbush with Brian Brode leading the Finance and Audit Committee, also stewards culturally significant assets like the Schlater International Art Collection housed at EKU Libraries. The foundation's investment strategy spans multiple asset classes. According to its stated allocations, the portfolio participates in buyout, distressed debt, mezzanine, special situations, and turnaround strategies. It also covers the venture spectrum from seed to late-stage expansion, using both direct commitments and a fund-of-funds approach. The geographic footprint is domestically focused, centered in Kentucky with investments managed from the Richmond headquarters. No specific portfolio company names are disclosed in public filings. Total assets under management are not publicly reported, but Altss estimates the foundation's portfolio at roughly $95 million as of mid-2026. In May 2024, the foundation continued its stewardship of on-campus assets including the University Club at Arlington, a mixed-use property at 1515 Stratton Road, which serves as both an event venue and a portfolio holding. Philanthropic recognition societies such as the Keen Johnson Society for major donors and the Legacy Society for estate-plan givers form the development pipeline that feeds the foundation. The structural differentiator lies in the foundation's hybrid identity: it functions simultaneously as a university endowment, a real-asset operating entity with physical campus-adjacent properties, and a donor-relations machine. Major donor Maribeth Berman's $1 million gift to establish the Berman Center for Professional Sales illustrates how donor intent directly shapes the university's academic capital allocation, a tighter loop than most public university foundations maintain.
General information
Firm type
Endowment / Foundation
Location
Region
North America
Country
United States
City
Richmond
Corporate office
Richmond, KY, United States
Principals
David McFaddin
President of Eastern Kentucky University
Mary Beth Neiser
Vice President for Development and Alumni Engagement; Executive Director of EKU Foundation
Suzanne Fawbush
Chair of the EKU Foundation Board
Brian Brode
Chair of Finance and Audit Committee; Founder of Brode & Associates
Sector focus
Frequently asked questions
Who runs investment decisions at the EKU Foundation?
The foundation's Finance and Audit Committee, chaired by Brian Brode — founder of Brode & Associates — oversees investment decisions. Mary Beth Neiser serves as Executive Director of the foundation, while President David McFaddin holds ultimate institutional authority as EKU's chief executive. The board of directors, chaired by Suzanne Fawbush, provides governance-level oversight of the portfolio and its allocations.
What is the foundation's real estate footprint?
The foundation holds two named real assets in Richmond, Kentucky: Elmwood Estate, a residential property, and the University Club at Arlington, a mixed-use facility at 1515 Stratton Road. The University Club operates as an event and social venue, while Elmwood Estate contributes to the foundation's physical asset base alongside its financial portfolio. These properties are directly held, not held through external managers.
Does the EKU Foundation participate in fund commitments or only direct deals?
The foundation's investment strategy includes both fund-of-funds commitments and direct allocations across strategies including buyout, distressed debt, mezzanine, special situations, and venture capital from seed through late-stage. This dual approach allows the foundation to access specialized managers while maintaining direct exposure to targeted opportunities.
How is donor intent preserved in the foundation's spending?
Donor funds are channeled through recognition structures like the Keen Johnson Society for major gifts and the Legacy Society for estate-plan commitments. The Berman Center for Professional Sales, created through former board chair Maribeth Berman's $1 million gift, demonstrates how named gifts tie directly to academic programming. The foundation board, chaired by Suzanne Fawbush, is the fiduciary guardrail for these restricted funds.
What non-financial assets does the EKU Foundation steward?
Beyond its investment portfolio and real estate holdings, the foundation stewards the Schlater International Art Collection, housed at EKU Libraries in Richmond. The collection forms a distinct cultural asset managed alongside the foundation's financial and property portfolio, consistent with public university endowments that hold gifts of art and artifacts.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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