U of I and Foundation Set Record, Eclipse $221 Million in FY09 Giving
October 02, 2009 08:05 AMThe University of Illinois and the U of I Foundation had a record‑setting year for private gifts received for the fiscal year that ended on June 30, 2009.
The University and UIF raised $221.4 million, according to Walter Knorr, U of I chief financial officer and treasurer of the U of I Foundation. The previous high for gifts received was $219.6 million in FY02. FY09 was the second consecutive year‑‑ and only the third year ever‑‑ that the University and U of I Foundation eclipsed the $200 million mark in gifts received.
Total private giving increased 3.5 percent over the previous year. $58.8 million was designated to the U of I directly and $162.6 was contributed through the Foundation.
Knorr made the announcement at the U of I Foundation’s 74th Annual Meeting today (Friday, Oct. 2) to approximately 500 elected Foundation Members and members of the Presidents Council and Chancellor’s Circle.
“Our donors have been terrific,” said Knorr. “It’s indeed gratifying that during one of the most challenging economic periods in decades, the Foundation experienced record‑setting giving.”
“The entire University of Illinois family is most humbled by the fabulous year we just concluded,” stated Sidney S. Micek, president of the University of Illinois Foundation. “Our alumni and friends continue to recognize and cherish their experience from when they attended one of our three campuses. That is what makes this such a special place.”
The $221.4 million in gifts breaks down as follows:
- Alumni: $69.7 31%
- Friends: $28.9 13%
- Corporations: $55.2 25%
- Foundations: $37.6 17%
- Associations: $30.0 14%
The $221.4 million in gifts received provided support for a number of initiatives across the campuses at Urbana‑Champaign, Chicago and Springfield, including various academic units and programs; research; buildings and equipment; faculty/staff support; public service and extension; athletics; and student financial aid.
This past year $49.7 million was raised for research initiatives, $27.3 million for student scholarships and support, $15.6 million for faculty support, $11 million for facilities and nearly $5 million for the university libraries.
Of the $221.4 million raised last year, 71 percent ($156.8 million) was designated for current uses funds. These funds are intended to be used during the current fiscal year. Also, $58.6 million was designated for the endowment.
The active endowment of both the University and the U of I Foundation represents $1,176.5 billion as of June 30, 2009, or 62 percent of the total endowment of $1.899 billion. Also included in the U of I endowment is $589.6 million designated as revocable deferred gifts that are presently known to the University and Foundation. Another $132.9 million of the endowment is in charitable trusts and other irrevocable deferred gifts held by the Foundation and others. The combined U of I and UIF endowment dropped 21 percent during FY09.
