PSU Magazine Winter 2004

Partners in Education Foundation partnerships help meet student housing demand The PSU Foundation would like to Lhank all of Ponland State's friends for Lheir belief in Lhis University and Lheir suppon in building its future. Your generous contributions, advocacy, and commitment make it possible for PSU to offer the resources of a major urban university to its students and our region. The past year ushered in a new era of partnership between the PSU Foundation, the University, the city of Portland, and private enterprise. The Broadway Housing project, a new 10- story building rising on Broadway and SW Jackson, will help to meet an urgent demand for student housing and spur the redevelopment of the University DisLrict. Scheduled Lo open in September 2004, the 217,000 square-foot complex will include over 380 loft apartments, classroom and computer lab space, and retail space on the ground floor. The Broadway Housing project marks the first time that the PSU Foundation has played a pivotal role in the University's real estate development efforts, and we are very excited about the level of innovation and collaboration involved in moving forward during a challenging fiscal era. Rents and income from the mixed-use facility will pay for the economic redevelopment bonds that are financing the $49 million building-no taxpay– er funds will be used. We are proud to join Portland State University, the city of Portland, Portland Development Commission, Gerding/Edlen Developers, Otak Architecture and Hoffman Construction, and others in this creative project that has so much potential to transform the University and its urban neighborhood . PSU Foundation 2003 Revenues by Source Restricted expendable gifts ($8,049,947) Fundraising events (S575,091) Endowment gifts ($1,172,100) Portland State University and PSU Foundation Total Gifts and Pledges 1998-2003 $10M $SM $OM '98-'99 '99-'00 '00-'01 '01 -'02 '02-'03 '99 PSU Foundation Asset Growth 1999-2003 '00 '01 '02 '03 - In-Kind L J University Gifts - Foundation Gifts - Assets L J Net assets Iii Expendable net assets PSU Foundation 2003 Grants and Expenses by Function Scholarships ($1,530,394) Fundraising (S169,363) Foundation administration (St,030,751) For additional details regarding PSU Foundation financial information, please contact Philip Varnum, chief administrative officer, at 503-725-5881.