updated: 8/9/2010 12:46:46 PM
Indiana University says it has received nearly $343 million in private sector gifts in fiscal year 2010, its second highest number on record. The total is a 38 percent increase over fiscal 2009 when the university received almost $248 million. The donations came from the IU Foundation, Riley Children's Foundation and research grants from the private sector awarded to faculty.
Source: Inside INdiana Business
August 9, 2010
BLOOMINGTON, Ind. -- Indiana University received $342.8 million in support from the private sector in fiscal year 2010, the second highest number on record for the university. The annual total, which reports actual dollars received, includes gifts for IU through the IU Foundation and Riley Children's Foundation, and research grants from the private sector awarded to faculty.
The total is a 38 percent increase over fiscal 2009 when all campuses of the university received $247.6 million during a period of severe economic decline. In fiscal 2010, gifts for Indiana University through the IU Foundation increased by 45 percent to $166.8 million, the third highest total on record. Gifts through the Riley Children's Foundation for Riley Hospital for Children totaled $14.3 million, an increase of 22.2 percent. Nongovernmental grants to faculty increased by 33 percent to $161.7 million, setting a record for such grants.
"These generous gifts and grants are an expression of confidence in Indiana University," said President Michael A. McRobbie. "We deeply appreciate the donors and grant makers who recognize the power of the university to contribute to the well being of our state and nation. The university is committed to providing the finest education and making it accessible to all qualified students, pushing the boundaries of knowledge to enrich the lives of our citizens, and contributing to economic revitalization. The results are particularly gratifying in a period that is challenging for philanthropy."
Giving USA, an annual report on giving researched by the Indiana University Center on Philanthropy, reported that contributions to higher education nationally declined by 3.6 percent in calendar year 2009.
The largest single gifts and grants, said IU Foundation President Gene Tempel, were from Lilly Endowment, which gave $60 million to the IU School of Medicine for its Physician Scientist Initiative, designed to translate research more quickly into treatments benefiting patients, and $15 million given to the Kelley School of Business for scholarships in a bequest from alumnus William R. Fry.
IU's fiscal 2010 total of $342.8 million is reported to the Council for Aid to Education (CAE), which issues an annual report in the first quarter of the next calendar year on giving to education and compiles a national ranking of all colleges and universities. IU has appeared in CAE's Top 20 list in 17 of the last 20 years.
Source: Indiana University