U of I Foundation Receives Increase in Donations

September 22, 2014

The University of Illinois Foundation said Monday that it received $259.5 million in donations during the fiscal year that ended June 30, a 10.5% increase over the previous fiscal year.  

The money came from cash gifts, pledge payments, annuities, life-income gifts and estate distributions, said foundation treasurer Walter Knorr, who also is the University of Illinois' chief financial officer. The foundation raised $234.9 million in fiscal year 2013. The foundation noted that the 2014 total is the seventh straight year of more than $210 million in donations.  

About 29% of funding came from other foundations, the largest donor source, the University of Illinois Foundation said. Corporations came in second at about 21%. The foundation processed 151,250 gifts during fiscal year 2014, a 4% increase from a year ago, officials said.  

The combined University of Illinois Foundation endowment totaled $3.2 billion at the end of the fiscal year, officials said. 

Story source: AP