University?s Gifts Buck National Trend
by February 8, 2010 12:00 am 73 views
The economy might be down, but fundraising is up at the University of Arkansas.
That’s according to a release issued by the UA during the last week of January. It indicated $45,347,754 had been raised through Dec. 31, 2009, the midway point of the UA’s 2010 fiscal year.
That total is both 13 percent higher than the $40 million raised during the same span last year and 53 percent of the school’s annual goal of $85.4 million.
The $45 million-plus figure includes cash gifts, gifts-in-kind, new planned gifts and new pledges – monies designated for academic and athletic purposes.
“We just announced mid-year budget cuts and are faced with cutting another $3.2 million between now and June 30, said Brad Choate, vice chancellor for the division of university advancement. “As state funds are cut, philanthropic dollars become even more important.”
The UA’s good gift-giving fortune comes at a time when one nonprofit group, The Council for Aid to Education, is reporting a decrease of about 15 percent in donations to colleges and universities nationwide.
“National fundraising trends suggest that our results should not be so strong and we are grateful to each and every benefactor who continues to make private gift support of the University of Arkansas a priority,” UA chancellor G. David Gearhart said.