FAYETTEVILLE, Ark. — The University of Arkansas endowment holdings rose to $876.8 million, more than a $100 million gain over the previous year, at the close of the 2006-07 fiscal year on June 30, 2007. One year earlier, the endowment stood at $763 million.

“The University of Arkansas’ endowment growth is a direct result of the continuous support shown by our benefactors year after year,” said G. David Gearhart, vice chancellor for the Division of University Advancement. “This momentum is especially extraordinary during non-campaign years. In addition to private gifts, positive stock market forces have contributed to the growth of the endowment due to the excellent management of the portfolio by the University of Arkansas Foundation, headed by Clay Davis.

“Chancellor White, the vice chancellors, the deans, faculty, the directors of development and numerous volunteers are committed to increasing support for our university, and we appreciate all of their hard work. The University of Arkansas Foundation and the Razorback Foundation do an outstanding job managing the university’s assets. The knowledge of the foundations’ staff members is extremely important to our success. Dr. White set a goal of securing a $1 billion endowment by 2010, and we are likely to reach that level,” Gearhart said.

The endowment serves the university as a permanent savings fund, and only the earnings are used for academic programs and endowed chairs, professorships, fellowships and scholarships, which make up the bulk of the endowment. These are permanent funds that will spin off income in perpetuity.