by Chris Bahn
Posted 7/24/2013 02:21 pm
Updated 1 year ago
Private giving to the University of Arkansas exceeded $100 million for a third consecutive year, the school announced on Wednesday.
Gifts to the UA in fiscal year 2013 topped $108.4 million, following $108.1 million in 2012 and $121.3 million in 2011. Included in the total are cash gifts, in-kind contributions, planned gifts and new pledges. About 25 percent of the money raised was designated for athletics and the Razorback Foundation.
"This accomplishment is impressive and uplifting because it shows the depth of loyalty from our donors and perseverance of our faculty and staff," Chris Wyrick, who was named vice chancellor for university advancement in April, said. "Our benefactors continue to be supportive and encouraging, and the numbers show that. The fundraising success and momentum created over the last several years is inspiring as we work together to help the university reach its goal of becoming a top 50 public research university."
Cash recepits, according to the UA, totaled $111 million, a 14 percent increase from the previous year. That total includes pledge payments, outright gifts and estate and planned gift distributions.
Fundraising efforts at the UA resulted in a record-setting 86,976 outright gifts and new pledges from 47,332 benefactors during the fiscal year. Of those donors, 12,258 were new to the university.
"We are humbled that our benefactors continue to support us with their outstanding philanthropy," said Chancellor G. David Gearhart. "We have made great strides in establishing a culture of giving at the university and educating our campus, donors and alumni on the importance of giving back. The results are astounding across campus."
Success came even as the advancement division was under scrutiny. Wyrick replaced Brad Choate, who led the office for four years. Choate was relieved of duties after an internal audit revealed the division had overspent by more than $3 million in 2012 and was on track for a $4 million deficit.
A breakdown of the $108.4 million:
- 37 percent came from corporations
- 28 percent came from foundations
- 28 percent came from individuals
- 7 percent came from other organizations
Money was allocated in the following ways:
- 49 percent went to student services
- 37 percent went to capital improvements
- 9 percent supported faculty and staff
- 5 percent went to “other initiatives”