I am pleased to report out that the Stout University Foundation, Inc. has enjoyed another highly successful year. While the substantial budget cuts facing UW-Stout have impacted the Foundation as well, we are viewing this challenging time as an opportunity to strengthen the Foundation's fundraising programs to help provide much-needed new sources of revenue for the university.
With an increasing need for private support, it is gratifying to report the Foundation's fundraising accomplishments for the 2015-2016 fiscal year were strong, exceeding fundraising goals on a number of levels. Outright gifts totaled over $2.2 million, while total fundraising production, including pledges and planned gifts, reached an impressive $6.2 million. I am also pleased to report gifts for existing and/or new endowments exceeded $759,000 and that 18 new named scholarships were created.
We are deeply appreciative of all our alumni, friends, and industry partners who have made gifts to the Foundation through our college campaigns, scholarships and other initiatives this year. Every gift truly makes a difference, as the level of participation in philanthropy is an important measure of the university's strength and impacts its overall ratings and reputation. As a result of this generosity, the Stout University Foundation was able to provide $2 million in financial support for UW-Stout, including a total of $733,541 distributed for scholarship awards to 385 UW-Stout students.
Finally, I wish to again extend my sincere appreciation to members of the Foundation Board of Directors. Along with their exemplary service and generous support in giving, the Board approved a Matching Gift Program as part of UW-Stout's 125th anniversary in 2016. This program matches gifts up to $62,500 toward a goal of raising $125,000 in select fundraising initiatives throughout the calendar year. Not only has this sent a wonderful message to our current donors, but it is inspiring many new and first-time gifts as well. I continue to be extraordinarily thankful for the efforts of our Board and their leadership in helping to create an even brighter future for UW-Stout.