Total voluntary support for Indiana University in fiscal 2013 is fourth highest on record
FOR IMMEDIATE RELEASE
BLOOMINGTON, Ind. -- Indiana University received $305.9 million in voluntary support in fiscal 2013, the fourth highest total in the history of the university. The annual total voluntary support figure, which reports actual dollars received during the fiscal year, includes $153.5 million in private support from alumni, friends, parents, companies, foundations and other organizations. It also includes $18.5 million in private gifts for the Riley Children's Foundation and $133.9 million in nongovernmental grants awarded to the university.
"Indiana University is deeply grateful for the extraordinarily generous support that it continues to receive," IU President Michael A. McRobbie said. "This support has been instrumental in the progress we have made in ensuring that we can recruit and retain the best faculty, pursue path-breaking academic and research initiatives, and develop our infrastructure; as well as ensure that a quality education remain affordable and accessible to deserving students from around Indiana, the nation and the world."
The impact of these private gifts supports several areas of the university with 23 percent going to student scholarships and financial aid, 22 percent dedicated to faculty support, 20 percent providing support for academic operations, and 13 percent for faculty and program research. Other areas of support include facilities, university programs, activities and events. In most cases, donors who requested that their gifts be used for student scholarships or to support faculty did so by creating endowments. The distributions on these endowments, in turn, are used according to the donor's wishes as expressed in their gift agreements. Impact percentages are unaudited.
IU Foundation President Dan Smith focused on the true impact of the good news. "This is far more than a financial figure," Smith said. "These gifts help create the next generation of educators, artists, physicians and entrepreneurs -- leaders who go on to touch countless other lives. Quite literally, the private support we receive provides the foundation for building communities that are the bedrock of regional, national and global prosperity and stability.
"These funds also support research that, in so many cases, leads to important breakthroughs that improve the human condition. It is evident that our alumni and friends embrace the promise of Indiana University's research and education mission. We are grateful for their continued support."
The record for total voluntary support was set in fiscal 2008 when IU received $408.6 million. That year included two gifts of rare scale: an estate gift of $77 million from the late Jesse H. and Beulah C. Cox, and $69 million from the Lilly Endowment.
In fiscal year 2012, Indiana University received $347.9 million in total voluntary support and was ranked 14th among all colleges and universities in the nation, fourth among public universities, and first in the Big Ten, according to the Chronicle for Higher Education's Almanac of Higher Education 2013, compiled using data from the Council for Aid to Education. Indiana University has appeared in Council for Aid to Education's Top 20 list in 17 of the last 20 years.
Founded in 1936, the Indiana University Foundation maximizes private support for Indiana University by fostering lifelong relationships with key stakeholders and providing advancement leadership and fundraising services for campuses and units across the university. Today, the foundation oversees one of the largest public university endowments in the country, with a market value in excess of $1.7 billion.