The University of Illinois Foundation Releases Financial Report for FY20
For the first time, both cash and new business exceed $400 million; UI System campaign progress at 91 percent toward goal
URBANA, Ill. — The University of Illinois System and the University of Illinois Foundation announced today an impressive fundraising report for Fiscal Year 2020 (July 1, 2019 through June 30, 2020) that includes both cash and new business figures surpassing $400 million.
Fundraising for FY 2020 recorded $462.1 million in new business, comprised of new gifts, grants, pledges, and deferred commitments. This figure is the third largest on record, following $498.5 million in 2018 and $462.9 million in 2019 (figure 1). The Foundation first reached the $400 million milestone in FY 2013 with $434.9 million in new business.
Of this fiscal year’s new business totals, the greatest contributions came from alumni ($150.4 million). The new business by source chart (figure 2) is broken out for each source by dollars and percentage for FY 2020. (Note the “other” category includes giving vehicles such as donor advised funds, which continue to grow in popularity with individual donors. The other category grew 106 percent in 2020.)
The Foundation’s financial report for FY 2020 was announced today via a video version of the Foundation’s 85th Annual Business Meeting. Due to the COVID-19 pandemic, the meeting was held virtually for the first time. The Foundation’s annual business meeting is a cornerstone event held to share the impact of private support for the University of Illinois System. This year the Foundation is celebrating 85 years of investing in the University of Illinois.
“In a time of historic challenges, our donors have responded in historic ways. I am so grateful for their generosity, and their commitment to the power our universities hold to help lead the way through this crisis and to drive new waves of progress on the other end,” said Timothy L. Killeen, president of the University of Illinois System.
For the first time in the Foundation’s history, the cash flow for a single fiscal year exceeded the $400 million mark by reaching $420.5 million, far surpassing previous highs of $298.7 million in 2019 and $302.6 million in 2018 (figure 3). Included in this figure are outright cash gifts, pledge payments, annuity/life income gifts, and estate distributions.
Of this fiscal year’s cash totals, the greatest contributions came from family foundations (27.3 percent). The cash flow by source chart (figure 4) is broken out for each source by dollars and percentage for FY 2020. The category of “other” nearly doubled from the previous year.
Of the $420.5 million total, $183.9 million was directed by donors to a university, college, department or program for its unrestricted use at the discretion of the dean or unit head. The majority (60.1 percent, or $252.9 million) of the $420.5 million was designated as current use funds (to be used during the current fiscal year), while 38.9 percent ($163.7 million) was designated for the endowment and 1.0 percent ($3.9 million) was designated for annuity/life income funds.
The cash flow allocation chart (figure 5) highlights and compares the purpose designated by the donor for FY 2019 and FY 2020. Every category increased from the previous year.
The University and U of I Foundation combined active endowment stood at $2.92 billion as of June 30, 2020. The Foundation's annual report will be released before the end of the calendar year and will offer more details about the financials, campaign progress, and the state of the endowment for FY 2020.
“Despite all of the uncertainty that we have seen in 2020, there are some things that even a global pandemic can’t change and those are the rich tradition of excellence and innovation the University of Illinois exemplifies, and of course, our ever loyal and true alumni and friends,” said U of I Foundation President/CEO James H. Moore, Jr. “The generosity of our donors in contributing more than $400 million in both cash and new business is awe inspiring and helps our three campaigns—With Illinois, IGNITE, and Reaching Stellar—make progress toward their goals.”
The University of Illinois System is ahead of pace amid its most ambitious, $3.1 billion fundraising initiative, which is comprised of three unique fundraising campaigns—Urbana, Chicago, and Springfield. As of September 30, 2020 the campaigns are collectively 91.14 percent toward the goal, together having raised an impressive $2.825 billion. The individual campaign progress for each of the universities through September 30, 2020 is as follows:
- With Illinois—The Campaign for Illinois: $2.13 billion raised or 94.87 percent toward goal
- IGNITE—The Campaign for UIC: $574.5 million raised or 76.60 percent toward goal
- Reaching Stellar—The Campaign for UIS: $36.8 million raised 91.89 percent toward goal
(The campaign progress figure of $2.825 billion also includes additional gifts to the U of I Foundation, the U of I System, and the U of I Alumni Association.)