UA’s Fundraising Up Midway Through Fiscal Year

Midway through its 2013 fiscal year, the University of Arkansas is reporting more than $61.7 million in fundraising, an increase of about 15 percent over 2012’s total at the same point.

“Once again, we are on track for another successful fundraising year thanks to the generosity of University of Arkansas alumni, friends, faculty, staff, parents and students,” said Chancellor G. David Gearhart. “I am pleased that our benefactors continue to demonstrate their confidence and loyalty by supporting higher education and the university’s initiatives, despite the concern over fiscal cliff ramifications or the political climate,” UA chancellor G. David Gearhart said in a Friday press release. “This truly makes a difference in the future of our institution and allows us to offer an exceptional educational experience.”

The amount announced Friday includes outright gifts of cash, gifts-in-kind, new planned gifts and new pledges, according to the release. Funds have been designated for academic and athletic purposes such as scholarships, diversity initiatives, new construction and renovation projects, the Razorback Foundation and University Libraries.

In addition to dollars raised, there has also been an increase in the number of gifts and household donors. Both of these statistics are encouraging as the university enters the second half of its fiscal year, which ends June 30, and strives to reach its fundraising goal of $107 million for the fiscal year.

Friday’s news comes after UA officials discovered a shortfall in its advancement division in June. The division overspent by $3.1 million in 2011-12 and is expected to have a deficit of more than $4 million in 2012-13. Advancement houses fundraising, communications, marketing, special events and the World Trade Center in Rogers.