The University of Arkansas saw a 40 percent increase in private giving over the past 12 months, according to a news release issued Tuesday morning.
The UA raised $121.3 million, exceeding its $100 million goal and topping last year’s total by $34.6 million. The fundraising total includes outright gifts of cash, gifts-in-kind, planned gifts and new pledges received from July 1, 2010, through June 30, 2011. Of this total, $38.5 million was designated to support athletics and the Razorback Foundation.
“It has been an outstanding year at the University of Arkansas,” said Brad Choate, vice chancellor for university advancement. “This is the largest fundraising total reported outside of a capital campaign and the third largest ever at this institution.”
Cash receipts, which include pledge payments, outright gifts and estate and planned gift distributions, totaled $109.1 million compared to $89.1 million last year.
“We often talk about the impact of private gift support by highlighting one student’s experience or by showcasing one department’s improvement,” said Chancellor G. David Gearhart. “In fact, the impact is campuswide. Whether gifts are targeted for a specific purpose or are offered to support the university’s priorities as it sees fit, ultimately all students and programs benefit every day due to our benefactors’ generosity and commitment.”
Of the $121.3 million raised for academic and athletic programs in 2010-11, 45 percent came from individual alumni, friends, faculty and staff, 34 percent came from corporations, 17 percent came from foundations and 4 percent came from other organizations. While 33 percent supported students and programs, 48 percent supported capital improvements, 15 percent supported faculty and staff and 4 percent supported other initiatives.
The non-endowed total was $99.1 million, and these funds were made available for current use. The remaining $22.2 million, or 18.2 percent, went toward the university’s endowment.