University of Illinois System, U of I Foundation Extend Fundraising Success
For 81 years, the University of Illinois Foundation and the University of Illinois have worked together to secure and manage private gifts from donors who are committed to the University and advancing its excellence in teaching, research and public engagement.
Figures for the fiscal year that ended June 30, 2016, were announced Friday, October 7, at the Foundation’s Annual Business Meeting, with about 300 alumni and donors, including elected Foundation Board of Directors, Foundation Members, members of the President’s Council and members of the Chancellor’s Circle, in attendance.
The University of Illinois System and U of I Foundation registered $224.7 million in outright cash gifts, pledge payments, annuity/life income gifts and estate distributions in FY 2016, noted Walter Knorr, treasurer of the University of Illinois Foundation. The FY 2016 cash flow total surpassed the $220 million mark for the fourth consecutive year.
“Private giving helps the University of Illinois System remain world-class,” U of I President Tim Killeen said. “It is the foundation of academic and research excellence that makes our three universities key engines of progress, providing the workforce and innovation of tomorrow, and I am deeply grateful to our generous donors for their loyalty and support.”
Of the $224.7 million raised last fiscal year, corporations were the largest donor source at 27.3 percent, followed by foundations (23.4%), alumni (22.3%), friends (11.09%) and other sources (16%).
Donors designated $61.6 million of their gifts for research, $32.4 million for academic programs, $29.2 million for student support, $19.9 million for facilities, $12.2 million for public service, $5.2 million for faculty support and $4.6 million for other areas.
Of the $224.7 million total, $59.6 million was designated by donors to a university, college, department or program for its unrestricted use at the discretion of the dean or unit head.
The majority (75.9%, or $170.4 million) of the $224.7 million was designated as current use funds (to be used during the current fiscal year), while 22.4 percent ($50.5 million) was designated for the endowment and 1.7 percent ($3.8 million) was designated for annuity/life income funds.
The University System and U of I Foundation also recorded $286.2 million in new business, comprised of new gifts, grants, pledges and deferred commitments in FY 2016. This marks the tenth consecutive year that new business has surpassed the $250 million mark. Of the new business total, $87.4 million were provided by alumni, $39.6 million by foundations, $90.2 million by corporations, $34.4 million by friends and $34.6 million by other sources.
“The Annual Foundation Business Meeting and associated events provide an important opportunity to celebrate the impact that private giving has on the University of Illinois,” said U of I Foundation President/CEO James H. Moore, Jr. “The donors once again made our three outstanding universities a philanthropic priority last year, and we appreciate and thank them all.” The U of I Foundation processed 159,256 gifts in FY 2016, about a 1% percent increase from a year ago.
The combined endowment pool has experienced exponential growth since dipping below $1 billion in 2008. The University and U of I Foundation combined active endowment and life income pool stood at $2.43 billion as of June 30, 2016. Of that total, more than $2.29 billion represent the active endowment, and $138.8 million is irrevocable deferred gifts, earmarked by donors for endowment purposes. In addition, $802.2 million of revocable deferred assets also were designated for endowment purposes. Slightly over 90 percent of the combined active endowment is pooled investments that now total more than $2 billion. The one-year preliminary return of the combined endowment pool (for FY 2016) was -2.2 percent. The three-year return was 5.0 percent and the five-year return was 5.9 percent.
About the University of Illinois System and the U of I Foundation
The University of Illinois System is a world leader in research and discovery, the largest educational institution in the state with more than 80,000 students, and universities in Urbana-Champaign, Chicago and Springfield. The U of I awards more than 20,000 undergraduate, graduate and professional degrees annually. The University of Illinois Foundation, established in 1935, is dedicated to securing and administering private gifts for the University of Illinois System and its three universities.
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