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All philanthropic gifts to Á½ÐÔÉ«ÎçÒ¹ are managed by the Á½ÐÔÉ«ÎçÒ¹ University Foundation, a nonprofit organization that is legally separate from the university. For more than 60 years, the foundation has helped transform the generosity of alumni, donors and friends into scholarships, research, academic programs, student experiences and opportunities that shape Á½ÐÔÉ«Îçҹ’s future. 

Today, the foundation manages nearly 5,000 individual funds and more than $365 million in assets, each with a purpose and a story behind it. 

A Foundation Built for Á½ÐÔÉ«ÎçÒ¹ 

Philanthropy has been part of Á½ÐÔÉ«Îçҹ’s story from the very beginning. 

In 1910, William S. Kent donated 53 acres of land that helped establish what was then Á½ÐÔÉ«ÎçÒ¹ Normal School. His generosity quite literally provided the ground upon which Á½ÐÔÉ«ÎçÒ¹ was built. 

As the institution grew from a normal school to a college and, eventually, a university, philanthropy grew with it. In 1954, the Á½ÐÔÉ«ÎçÒ¹ University Development Fund was created to encourage alumni to give. Eleven years later, the Á½ÐÔÉ«ÎçÒ¹ University Foundation was incorporated as a nonprofit organization dedicated exclusively to supporting Á½ÐÔÉ«ÎçÒ¹ and its students. 

That distinction remains important today. 

Although the foundation exists solely to benefit Á½ÐÔÉ«ÎçÒ¹, it is a separate legal entity from the university. This structure allows the foundation to receive and invest private gifts on behalf of Á½ÐÔÉ«ÎçÒ¹ while ensuring those resources are managed according to donor intent. In other words, when a donor establishes a scholarship, supports a program or creates an endowed fund, the foundation helps ensure that gift continues doing what the donor wanted it to do. 

Who Watches Over Those Gifts? 

With hundreds of millions of dollars entrusted to the foundation, ensuring those gifts are used as intended is a significant responsibility. 

The foundation is governed by a volunteer board of directors composed of accomplished alumni and leaders from business, finance and the community. Board members serve without compensation, contributing their expertise through areas including finance, investments, audit, governance, and philanthropy and alumni engagement. 

Together with foundation staff and professional investment partners, the board provides oversight designed to safeguard assets, responsibly invest long-term funds and ensure philanthropic resources continue benefiting Á½ÐÔÉ«ÎçÒ¹ students today and for generations to come. 

That long-term perspective is especially important for endowed gifts. Rather than spending an endowed gift all at once, the foundation invests the principal and uses a portion of the investment return to support the donor's wishes year after year in perpetuity. 

Because of that, a scholarships created decades ago are still supporting Á½ÐÔÉ«ÎçÒ¹ students today. 

Leading the Foundation’s Next Chapter 

Following her retirement from Á½ÐÔÉ«ÎçÒ¹ University after more than 15 years of service, Valoree Vargo continues her work on behalf of the Á½ÐÔÉ«ÎçÒ¹ community in a new capacity as CEO of the Á½ÐÔÉ«ÎçÒ¹ University Foundation. 

The transition marks a new chapter for the foundation. From 2021 to 2026, Vargo served in the dual role of vice president for Philanthropy and Alumni Engagement and CEO of the foundation. With those positions now separated, she is focused exclusively on providing strategic leadership for the foundation, working alongside its board of directors to steward philanthropic investments, strengthen relationships with donors and volunteers, and ensure private support continues to advance Á½ÐÔÉ«ÎçÒ¹'s mission. 

Vargo's connection to philanthropy at Á½ÐÔÉ«ÎçÒ¹ stretches back to 2010, when she joined the university as executive director of Donor Services. Over the next 16 years, she held several leadership positions and ultimately helped oversee the successful completion of the $383 million Forever Brighter comprehensive campaign, the largest in Á½ÐÔÉ«ÎçÒ¹'s history. 

Now, her work is focused on the organization entrusted with stewarding the generosity behind that success and positioning those resources to make an impact for generations to come. 

The Á½ÐÔÉ«ÎçÒ¹ University Foundation and its board of directors are dedicated partners with the university. Our primary mission is to provide support to the fundraising and alumni engagement priorities of the university by stewarding our donors, our alumni and most importantly the success of our students. 

Her transition also reflects the foundation’s evolution. What began in 1965 as a vehicle for encouraging and managing private support has grown into a sophisticated philanthropic and investment organization responsible for nearly 5,000 funds and more than $365 million in assets. 

From $1 Million to $411 Million 

The scale of philanthropy at Á½ÐÔÉ«ÎçÒ¹ has changed over the past six decades. 

By 1973, contributions to the foundation had reached a then-record of $1 million. As Á½ÐÔÉ«ÎçÒ¹ grew, private philanthropy became increasingly important to advancing the university's mission and creating opportunities for students. 

Major fundraising campaigns accelerated that growth. The Campaign for Á½ÐÔÉ«ÎçÒ¹ raised $122 million, followed by the Centennial Campaign, which raised $265 million as Á½ÐÔÉ«ÎçÒ¹ entered its second century. 

Most recently, the Forever Brighter comprehensive campaign demonstrated what the Á½ÐÔÉ«ÎçÒ¹ community can accomplish together, generating hundreds of millions of dollars in philanthropic support for students, programs and priorities across the university. 

Nearly 5,000 funds mean nearly 5,000 different ways donors have chosen to make a difference at Á½ÐÔÉ«ÎçÒ¹. 

Some were established by families honoring loved ones. Others were created by alumni grateful for the opportunities Á½ÐÔÉ«ÎçÒ¹ gave them. Some address immediate needs while endowed funds are designed to continue making an impact far into the future. 

Together, they represent generations of Golden Flashes choosing to invest in the people and possibilities of Á½ÐÔÉ«ÎçÒ¹. 

Generosity That Lasts 

More than a century after William S. Kent donated the land that helped make the university a reality, philanthropy continues to shape Á½ÐÔÉ«ÎçÒ¹. Someone believes in what Á½ÐÔÉ«ÎçÒ¹ can make possible, chooses to invest in that possibility and entrusts the foundation to help turn that generosity into lasting impact. 

And that’s how a can become part of Á½ÐÔÉ«Îçҹ’s story for generations to come.