Complex sentence: Alderman also laid the financial groundwork for the University's future, during the first years of his presidency establishing its first endowment fund and leading the fundraising of almost $700,000 to meet a $500,000 challenge grant from Andrew Carnegie.
Split into simpler sentences: Alderman also laid the financial groundwork for the University's future. During the first years of his presidency he established its first endowment fund and led the fundraising of almost $700,000 to meet a $500,000 challenge grant from Andrew Carnegie.