# Eastern Kentucky University Foundation

Eastern Kentucky University Foundation is an Endowment / Foundation based in Richmond, United States.

## Overview

- **Organization type:** Endowment / Foundation
- **Headquarters:** Richmond, United States
- **Region:** North America
- **Address:** Richmond, KY, United States
- **Assets under management:** ~$95M (Altss estimate)
- **Website:** development.eku.edu

## Regulatory record

- **Reports private funds:** No

## About

The Eastern Kentucky University Foundation operates as a supporting organization for EKU, a regional public university serving approximately 14,000 students from its campus in Richmond, Kentucky. Led by Vice President Mary Beth Neiser, the foundation coordinates development, alumni engagement, and the management of endowed and non-endowed assets that flow into university operations. The organization is governed by a board chaired by Suzanne Fawbush, with finance oversight from Brian Brode, a Richmond-based CPA and founder of Brode & Associates. On the investment side, the foundation maintains a portfolio allocated across venture capital, buyout, distressed debt, and mezzanine strategies, often accessed through fund-of-funds structures and direct co-investments. The endowment holds physical assets including Elmwood Estate and the University Club at Arlington, alongside the Schlater International Art Collection housed at EKU Libraries. Philanthropic and donor-advised vehicles, such as the Student Assistance Fund for Eastern and the Keen Johnson Society, augment the investable base and link regional philanthropy to the university's long-term capital strategy. Major gifts shape the foundation's trajectory. A $1 million donation from Maribeth Berman established the Berman Center for Professional Sales, reflecting the donor-driven nature of capital formation at regional publics. The foundation participates in professional networks like the EKU Milestone Society and the Legacy Society, which recognize consecutive annual giving and planned estate commitments—key pipelines for deferred endowment inflows in a market where total assets remain modest relative to flagship state university systems. The foundation's architecture as a dual-purpose development and endowment office is its structural differentiator. Investment decisions are embedded within a broader advancement mission, meaning capital allocation must balance portfolio returns with donor stewardship and campus-building imperatives. This integrated model is common among regional public universities, but it creates a distinct governance challenge: maintaining fiduciary discipline while remaining responsive to donor intent and a relationship-driven fundraising culture.

## Sectors

- Education

## People

- Mary Beth Neiser — Vice President for Development and Alumni Engagement; Executive Director of EKU Foundation
- David McFaddin — President of Eastern Kentucky University
- Suzanne Fawbush — Chair of the EKU Foundation Board
- Brian Brode — Chair of Finance and Audit Committee

## Questions

### How is the EKU Foundation related to Eastern Kentucky University?

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.

### Where does the EKU Foundation's capital come from?

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.

### How does the EKU Foundation's size compare to other Kentucky university endowments?

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.

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Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/eastern-kentucky-university-development-and-alumni-engagement

Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology