U of I and Foundation Receives $213.9 Million in Private Gifts During FY08
Total Giving Increases 12 Percent to U of I and UIF
Gifts to the University of Illinois and the U of I Foundation for the fiscal year that ended on June 30, 2008, totaled $213.9 million, according to Walter K. Knorr, U of I chief financial officer and treasurer of the U of I Foundation. Of the $213.9 million received, $47.2 million was designated to the U of I directly and $166.7 million was contributed through the Foundation. Total private giving increased 12 percent over the previous year. Alumni and friends giving increased by more than 15% (15.4) or $12.8 million from FY07.
Knorr announced the private gift figures during the University of Illinois Foundation’s 73rd Annual Meeting business session held today (Friday, Oct. 17). Knorr told the audience of more than 400 elected Foundation Members and Presidents Council donors that, “The University of Illinois hit a milestone with this academic year—more than 70,000 students are enrolled at our three campuses in Urbana, Chicago and Springfield. On average, the University awards around 18,000 degrees every year. These students and their knowledge translate into significant University of Illinois impact around the nation, and the world. Many of their academic accomplishments are financed, in part, by the generosity of the private gifts that you and thousands of others entrust to Foundation stewardship.”
The $213.9 million in gifts breaks down as follows:
The $213.9 million in gifts received provided support for a number of programs across the campuses at Urbana-Champaign, Chicago and Springfield. $57.5 million was added to endowment. $40.2 million was designated to support various academic units and programs, while $45.3 million was received in gifts and grants for research. $13.9 million was designated in deferred gifts. $11 million was given for buildings and equipment, and $3.3 million dollars was earmarked for faculty/staff compensation. $12.8 million was provided for other restricted purposes. $11.8 million was for public service and extension, and $12.0 million was designated for athletics. One of the most vital areas of support from UI alumni and friends is student financial aid—including scholarships, fellowships and student loans—and student support came in at $3.9 million
The market value of the University’s endowed funds grew from $1,058.8 billion at fiscal year-end 2004 to over $1.460 billion as of June 30th, 2008. This represents a $401 million increase in the endowment market value over the five-year period. The active endowment total of $1.460 billion (as of June 30,2008) is 67 percent of the total endowment of $2.177 billion. That figure includes $573.5 million designated as revocable deferred gifts that are presently known to the University and Foundation. Another $143 million of the endowment is in charitable trusts and other irrevocable deferred gifts held by the Foundation and others.
The University of Illinois Foundation is the fund raising arm of the University of Illinois and its three campuses: Urbana-Champaign, Chicago, and Springfield. The Brilliant Futures Campaign is the third comprehensive capital campaign for the University of Illinois. The initial fundraising endeavor, Campaign for Illinois, exceeded its $100 million goal by raising $137 million between 1979 and 1985. The second effort, Campaign Illinois, was launched in 1991 with a goal of $1 billion. When the campaign closed on Dec. 31, 2000, gifts totaled $1.53 billion, making it one of the largest fundraising efforts conducted by a public university at that time.