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K-State sets record with $211 million in donations - KOAM TV 7

K-State sets record with $211 million in donations

MANHATTAN, Kan. (AP) - Kansas State University says it received $212 million in gifts and commitments for the fiscal year that ended June 30.

The university said in a news release Monday that the total broke last year's record of $152 million. It also was the first time in the 70-year history of the Kansas State University Foundation that giving surpassed $200 million.

The donations include $89 million in endowed funds, which are primarily used for student scholarships, faculty chairs and professorships. University president Kirk Schulz said in the statement the record amount of endowed funds would help the school become a Top 50 public research university by 2025.

The statement says 63 percent of the $211 million is available for immediate use, with the rest in pledges and deferred gifts.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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