In 2023, for the 12th consecutive year, Colorado State University Pueblo Foundation received a clean audit for the fiscal year financials, which ended on June 30. In conjunction with other CSU Pueblo departments, $4.4 million in support was raised.
The audit, which was presented at the Foundation’s annual meeting on October 20, 2023, disclosed the Foundation has $67 million in assets and awarded over $4.1 million in scholarships to CSU Pueblo students for the 2022-23 academic year.
“I am very proud of the Trustees and the Foundation staff for the hard work they do every day making sure we follow the processes and procedures to ensure a clean audit,” said Todd Kelly, CSU Pueblo Foundation President/CEO, “Trust is very important to us and to those who make an impact on our students. This audit shows we are great stewards of their money.”
On top of the $4.1 million in scholarships awarded, the Foundation transferred another $1.5 million to CSU Pueblo in the form of capital expenses, support of academic programming, salaries, and further student development.
The national gold standard for non-profit fundraising, established by Charity Navigator, states the cost to raise a dollar is between 10 and 20 cents, and based on the audit, the Foundation’s costs to raise a dollar is at 14 cents.
The CSU Pueblo Foundation Trustees and Sustaining Trustees, including their respective businesses and/or organizations, contributed almost $100,000 in cash gifts in fiscal year 2023, and over $1.6 million lifetime. The Trustees have also provided over 500 volunteer hours. During the October Annual meeting, Mike Baxter assumed the role of CSU Pueblo Foundation Trustee chair, and Michelle Moreland was elected vice chair. The Foundation also welcomed two new Trustees, Mike Salardino and Michelle Randall-Garcia.
For the current fiscal year, thus far, the CSU Pueblo Foundation, in conjunction with the University, has raised over $2.3 million.
