Eastern Kentucky University Foundation

The EKU Foundation's investment decisions are overseen by the Finance and Audit Committee, chaired by Brian Brode, a Richmond-based CPA. The committee operates under the foundation's board, chaired by Suzanne Fawbush, with day-to-day coordination handled by Vice President Mary Beth Neiser's development office. The foundation does not disclose a dedicated chief investment officer, which is consistent with endowments of this size where committee-led oversight and external manager selection are standard.

The EKU Foundation is a legally separate 501(c)(3) organization that exists solely to support Eastern Kentucky University. It receives, invests, and disburses private gifts for university priorities, including scholarships, capital projects, and academic programs. The university's president, Dr. David McFaddin, works closely with the foundation, but the foundation maintains its own board and fiduciary responsibility.

Public records indicate the foundation allocates across venture capital, buyout, distressed debt, mezzanine, and fund-of-funds strategies. This broad mandate spanning early-stage to turnaround investments suggests a diversified, manager-driven approach rather than concentrated direct-investment activity. The foundation also holds physical real estate assets and an art collection as part of its overall portfolio.

The foundation's strategy includes both fund-of-funds commitments and direct investment vehicles. Given its estimated $95 million asset base, a substantial portion of the portfolio is likely accessed through commingled funds and fund-of-funds structures, which provide the diversification and manager access that a small in-house team cannot support independently.

Capital flows from three primary sources: annual giving from alumni and regional supporters, major gifts from high-net-worth donors, and planned estate commitments recognized through the Legacy Society. These inflows are divided between donor-restricted endowments (where principal is preserved) and unrestricted funds available for immediate university use.

Yes. The foundation administers multiple giving societies—including the Keen Johnson Society for major donors and the Legacy Society for estate commitments—alongside dedicated funds like the Student Assistance Fund for Eastern (SAFE). These structures operate alongside the endowment portfolio, with governance ensuring restricted gifts remain separate from discretionary investment assets.

At an estimated $95 million, EKU's endowment is smaller than the University of Kentucky's endowment (approximately $2.1 billion) and the University of Louisville's endowment (roughly $1.2 billion). This places EKU in the mid-tier of Kentucky's public university endowments, a scale that limits access to certain institutional private equity vehicles but supports a diversified commitment strategy across fund-of-funds and niche managers.