The University of Arkansas announced Thursday (Aug. 2) the second-best fundraising year in the school’s history, with $292.7 million during fiscal 2018. The amount raised includes gifts of cash, gifts-in-kind, planned gifts and new pledges received from July 1, 2017, through June 30, 2018.
The amount exceeded the goal of $245 million and was the most successful year yet for the “Campaign Arkansas” initiative, a multi-year fundraising effort launched in September 2016. It originally had a goal of raising $1 billion by June 30, 2020, but the target amount was increased past spring to $1.25 billion. The total amount raised for “Campaign Arkansas” is now $947.4 million.
Approximately $130.6 million of the fiscal 2018 fundraising total was allocated for endowed funds and adds to the university’s overall endowment, according to a UA news release.
Support for student scholarships and academic programs accounted for 49% of the money raised. Advance Arkansas, a scholarship initiative to promote student success, was launched during the campaign and remains a fundraising priority.
Another 14% was allocated to faculty and staff. The remaining funding for fiscal year 2018 includes 32% for capital improvements and 5% for other key initiatives.
The UA said Bill Dillard, chairman and CEO of Little Rock-based department store chain Dillard’s, will chair the “Campaign Arkansas” effort during the next fiscal year. Walmart CEO Doug McMillon and his wife Shelley led the effort this past fiscal year.