88th Annual Meeting of the University of Illinois Foundation Celebrates Donors and Student Impact; Announces Fiscal Year 2023 Financials
Through gift and UIF endowment distributions, the UI Foundation transferred more than $270 million to the University of Illinois System, the University of Illinois Urbana-Champaign (UIUC), the University of Illinois Chicago (UIC), and the University of Illinois Springfield (UIS).
URBANA, Ill. —On Friday, October 20, the University of Illinois Foundation held its 88th Annual Meeting at the Krannert Center for the Performing Arts on the campus of the University of Illinois Urbana-Champaign. The meeting, a key event in Foundation Weekend activities, celebrated the generosity of donors and the impact they have on the University of Illinois. This year’s meeting had a special focus on students and the transformative impact private giving has on their experience and success. To help illustrate this point, the program included a student-led chat with UIUC Chancellor Robert Jones, UIC Chancellor Marie Lynn Miranda, and UIS Chancellor Janet Gooch, and featured musical performances from scholarship recipients who attend UIUC, UIC, and UIS.
UIF President/CEO James H. Moore, Jr. said the Foundation recognizes the power of donor impact on students at every Annual Meeting, but this year a special effort was made to celebrate the System’s nearly 100,000 reasons for existence—through their talents and through the eyes of those who lead them. “Seeing students succeed—in their education, through their Illinois experiences, and in their futures—is our motivation,” said Moore. “Altruistic and passionate donors create opportunities for our students and memories that will last a lifetime.”
The UI Foundation announced its financials for the Fiscal Year 2023 (July 1, 2022-June 30, 2023). UIF reported a new business figure of $423.7 million for the fiscal year, marking the sixth year running that it has crossed the $400 million mark. More than 50 percent of that total came from alumni and friends, a testament to their commitment to the University of Illinois and the importance of higher education.
In FY23, the Foundation posted $359.9 million in cash* gifts. Donors designated 76 percent or $272 million—as current use funds, meaning the funds can make an almost immediate impact in the donor’s area of choice, such as student and faculty support, research, facilities, academic programs, or public service. Endowed funds, annuities, and life income funds combined for the remaining 24 percent of the cash total.
As of June 30, 2023, the University of Illinois Foundation’s active endowment value grew to $2.73 billion. During the last fiscal year, UIF distributed more than $270 million to the universities through gifts and its endowment. Of that total, $83 million was distributed from the UIF endowment. The FY23 preliminary return for the Foundation’s endowment portfolio was 9.0 percent. Values and returns for the UI/UIF combined active endowment are being finalized and will be released by the end of the calendar year.
In FY23, donors created 267 new funds for scholarships, fellowships, student awards, and general student support, with a value of more than $13 million. Most of those are endowed funds, which means their impact on students will last forever.
The Foundation's complete FY23 Annual Report will be released before the end of the calendar year. It will include a report on the state of the endowment and more financial details.
* The cash figure includes outright cash gifts, pledge payments, annuity/life income gifts, and estate distributions.
** New business includes new gifts, grants, pledges, and deferred commitments.