ACTUAL ENDOWMENT FUND COLLECTIONS AMOUNT TO NEARLY ELEVEN MILLIONS
EVERY SUBSCRIPTION DUE IN 1922 PAID BY END OF YEAR
Subscriptions to the University Endowment Fund reached a total of $13,892,605.29 on January 1, according to figures made public yesterday at the Endowment Fund headquarters. Of this sum, $10,910,825.31 had actually been paid in on that date, against a corresponding figure a year earlier of $9,776,706.89.
Illustrating the way in which payments on pledges made during the campaign of 1919-20 keep pouring in, it was said that an average of 30 checks was deposited by the Endowment Fund staff on each banking day, in the year 1922, totaling on the average some $4000 daily. Payments to the Fund made during the war amounted in all to $1,125,635.49.
Many Increased Subscriptions
While the Fund sustained some loss through the decease of a number of donors who had made pledges, and a considerable number of subscribers were behind in the payment of installments, on the other hand 26 new subscriptions were received during 1922, amounting to $4,631.68, and there were also '72 increased subscriptions, the increases amounting to $20,389.56. These new and increased subscriptions came in entirely without solicitation. During the past two or three years such new subscriptions and increases have shown a tendency to come in largest numbers during the early summer, after the Commencement season, and in the late autumn after the annual bills are sent out to subscribers by the Endowment Fund Office.
Make 693 Final Payments
During the year final, payments were made on 693 subscriptions, leaving 11,990 still to be completed. Of these the great majority are four or five-year pledges, the payments on which are due to be completed in 1923 or 1924. While a number due to be completed in 1919, 1920, and 1921 were still overdue on January 1, 1923, every subscription due for completion in 1922 has been paid in full. This is regarded at Endowment Fund headquarters as an indication of the improvement in business conditions.
The loss through the decease of subscribers amounted to $12,749 up to January 1. In many cases, subscriptions of deceased donors are being paid from the estates. The number of 1919 and 1920 installments overdue was 1657, amounting to $104,200.46. It has been the policy of the Endowment Fund committee to allow one year, at least, for the payment of an installment owing to the recent business depression.