FAYETTEVILLE, Ark. — The University of Arkansas endowment holdings rose to $763 million, more than a 10 percent gain over the previous year, at the close of the 2005-06 fiscal year on June 30, 2006. One year earlier, the endowment stood at $692 million.

G. David Gearhart, vice chancellor for University Advancement, said: “The first year after the close of the Campaign for the Twenty-First Century was outstanding. We are seeing the lasting effects endowed gifts have on the endowment’s bottom line. We must maintain this growth to achieve Chancellor White’s long-term goal of securing an endowment of $1 billon by 2010. Our endowment has increased by $644 million since Dr. White’s return to campus nearly 10 years ago.

“We are most grateful to the chancellor, the vice chancellors, the deans, faculty, the directors of development and our incredible volunteers who work tirelessly with our benefactors to increase support of our university. Also, we are appreciative of the work of the University of Arkansas Foundation and the Razorback Foundation for careful management of these assets. The Fayetteville campus’ endowment growth can be attributed to significant endowment additions through private giving as well as positive stock market forces. It is wonderful to witness everyone’s hard work and generosity truly having an impact at this level. The future of this institution remains bright, and we hope to continue moving in a positive direction,” Gearhart said.

The endowment serves the university as a permanent savings fund, and only the earnings are used for academic programs. Endowed chairs, professorships, fellowships and scholarships make up the bulk of the endowment. These are permanent funds that will spin off income in perpetuity. The University of Arkansas endowment is the third largest in the Southeast Conference, behind Vanderbilt University and the University of Florida.