From WILL - News Headlines -

U of Ill. Fundraising Campaign Tops $2.25 billion

The University of Illinois has reached its third largest fundraising goal ever of $2.25 billion.

Money from the Brilliant Futures campaign came from university graduates, corporations and other groups. Foundation spokesman Donald Kojich said private donations are becoming more important, especially in this economy.

"State support for public higher education has declined significantly over the last three decades," Kojich said. "Institutions have raised tuition, but to be able to also be able to have another revenue stream, private giving is now more important than ever."

Money from the fundraising campaign will primarily be split up among the university's three campuses. The Champaign-Urbana campus is slated to receive more than $1.5 billion from the campaign. The Chicago campus will receive $593 million and the Springfield campus will get about $26 million.

"It will go to support a variety of different areas - scholarships, faculty support, student support, various academic programs, could be some capital programs in terms of buildings," Kojich explained.

The U of I Foundation said it raised $2.267 billion in donations, but it will continue the campaign until Dec. 31.

Categories: Economics, Education