Year-end 2003 total return significantly higher than 2002

Growth Pool reports 34.5 percent total annual return

With the renewed strength in the equity markets, UNT Foundation's Growth Pool produced a total return of +34.5 percent for calendar year 2003, compared to a -20.5 percent total return for the same 12 months in 2002.

Year 2003 was a major turning point. The rebound of the Growth Pool over the past 12 months led to a 43 percentage point increase in total market value since December 31, 2002. This increased the UNT Foundation's total assets to $47.9 million on December 31, 2003, as compared to $33.5 million at the same time in 2002.

With this rebound in market value, 64 percent of the Foundation's individual endowments rose to levels above their historic cost (original donations plus additional gifts), which will enable distributions to UNT for more than 270 scholarships, lectureships, chairs and other funds in 2004. For newer funds (those created since the late 1990s), the gap narrowed between market value and historic value, moving those funds closer to the point of creating distributions in the near future.

As remarkable as the 2003 recovery in the equity markets was, the recent up market has not completely erased the effects of the significant down markets of the previous three years. The Foundation's oldest funds had many years of financial success on which to build reserves, and therefore, they fared better than its newer funds with little or no cushion to weather the downturn. Even so, the newer funds are nearer their historic value — the level that will allow distributions to UNT in the future.

Foundation Growth Pool Investment Performance 1/103 - 12/31/03

Foundation Growth Pool Investment Performance 1/1/03 - 12/31/03
	Pool Performance	Benchmarks
3/31/03	-2.51%	-3.25%
6/30/03	18.17%	16.72%
9/30/03	5.19%	4.75%
12/31/03	10.99%	12.17%
12 Months Total Return	34.50%	32.69%

UNT Foundation home to largest euphonium endowment nationwide

Larry Roark (center) with the euphonium band in fall 1976 An extraordinary gift to assist student musicians in the study of an unusual musical instrument was one woman's way to honor her late husband, a musician who loved his euphonium. Sara Neal Eskew gave the University of North Texas College of Music $150,000 to establish the Larry Roark Euphonium Scholarship through the UNT Foundation.

"The family wanted to support the program here because it is unique," said Brian Bowman, the College of Music's euphonium instructor and brass coordinator. "This may be the only euphonium endowment in the world."

Eskew's spouse, Larry Roark, graduated cum laude from UNT in 1978 and pursued graduate studies before he was host of the overnight show at NPR's Austin affiliate, KUT. A consummate musician, Roark performed with the Austin Symphony Orchestra, the Creative Opportunity Orchestra, the Austin Klezmorim, the Vacillating Discombobulators, the B.L. La Cerda group and a number of others. Early in his career he even played his euphonium for the Clyde Beatty-Cole Brothers Circus and served on the staff of Texas Woman's University. In 1989, Roark founded the Music of the Spheres™, a company that manufactures perfectly tuned wind chimes. Today those chimes are sold nationwide.

UNT's College of Music boasts 26 majors in its euphonium studio this semester while most music schools have approximately four.

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Website updated: December 15, 2004 · Website comments or corrections: rsimmans@unt.edu