University of Arkansas raises $131.6 million, exceeds fiscal year goal

by Talk Business & Politics staff ([email protected]) 199 views 

The University of Arkansas finished the 2016 fiscal year with $131.6 million in private gift support, making it the third-best year in the university’s fundraising history and the sixth year in a row to total more than $100 million in private gift support for students, faculty, capital projects and programs.

“Private gift support continues to be critically important to our campus as it adds to the academic opportunities available to our faculty, staff and students,” said Chancellor Joe Steinmetz. “We are in an excellent position for entering the public phase of Campaign Arkansas and look forward to sharing the progress we’ve made.”

The amount of private gift support in 2016 surpassed the university’s goal of $115 million and included gifts of cash, gifts-in-kind, planned gifts and new pledges to the UA received from July 1, 2015, through June 30, 2016.

“This has been a tremendous year for the university,” said Mark Power, interim vice chancellor for university advancement. “We are gaining momentum as we draw closer to the public launch of Campaign Arkansas, and excitement is growing. These contributions will enhance everything from academic and need-based scholarships, technology enhancements, new and renovated facilities, undergraduate, graduate and faculty research, to study abroad opportunities and other innovative programs.”

Approximately $19.2 million of the total amount raised, or nearly 15%, was allocated for endowed funds and will add to the university’s overall endowment total. Cash receipts, which include pledge payments, outright gifts and estate and planned gift distributions, reached $103.5 million in fiscal year 2016.

“As an alumnus and parent of three alumni, I am very pleased to see the strong showing of support the university has garnered this year,” said Reynie Rutledge of Searcy, chair of the UA System Board of Trustees and the Campaign Arkansas Steering Committee. “The University of Arkansas is the state’s flagship, and it’s imperative that we continue to give back to the next generation of students. When the university excels, our entire state benefits.”

Steinmetz said the fundraising success was a team effort. Gifts from individuals such as alumni, friends, parents, faculty and staff was 32% of the $131.6 million raised during the 2016 fiscal year. Another 35% came from corporations, while 26% came from foundations and 7% came from other organizations, including trusts and estates.

All private gifts to the university are designated and allocated for specific purposes set forth by each donor and used solely for those purposes. The university makes every effort to align donors’ giving interests with campus priorities.

Support for students and programs accounted for 41% of the money raised, 41% provided for capital improvements, 12% supported faculty and staff and 6% supported other initiatives. The campus brought in a record-setting 98,464 outright gifts and new pledges from 52,737 benefactors during the fiscal year.

2016: $131.6 million
2015: $116.5 million
2014: $113.3 million
2013: $108.4 million
2012: $108.1 million