Year's UA donations surpass $113 million

Gifts, pledges set record, buck trend

Gifts totaled $113.3 million to the University of Arkansas at Fayetteville for the 12-month period that ended June 30, the university said Monday.

The mark surpassed the previous year's $108.4 million in giving and also the university's fundraising goal of $108 million.

"This was a remarkable year for us. Our donors stepped forward and made significant investments in the University of Arkansas because they believe in our overall vision and our desire to make a positive impact on the state," Chris Wyrick, vice chancellor for university advancement, said in a statement. UA's University Advancement division is its main fundraising arm.

For the current fiscal year, UA has an operating budget of roughly $700 million. But the fundraising total includes gifts not yet received by the university. The university also reported the value of gifts actually received in the same time period, with those receipts totaling more than $101 million.

Other gifts may be endowed funds, with the university investing the gift and then spending only a portion of the investment income as the principal remains unspent.

Along with more dollars, the university also reported 90,543 gifts and new pledges -- a record for UA. The gifts and pledges came from 48,383 benefactors, up from the 47,332 benefactors reported a year earlier.

With more givers, UA seems to be bucking a national trend.

"The amount of giving for colleges and universities has been increasing, but the number of donors has actually been decreasing. So what's making up the difference is a higher average gift," said Gregg Carlson, chairman of the Giving USA Foundation, which publishes an annual report on philanthropy.

Mark Power, associate vice chancellor for development, said UA has stepped up efforts on social media and noticed an increase in online giving. The university also has a program rewarding donors who give for three consecutive years -- regardless of dollar amount -- a sticker for their car.

The increase in benefactors "speaks to the generosity and enthusiasm of our donors," Power said.

Among the largest announced gifts to UA's academic side was $3 million from Kevin and Marie Brown to benefit UA's department of chemical engineering.

Of the fundraising total, 42 percent was in cash.

Gifts in kind, which can be noncash donations of materials or equipment, made up 22 percent of the total. Planned gifts made up 19 percent, while pledges made up 17 percent.

Out of the total, $27.7 million is designated for athletics.

The single largest source of giving to UA was corporations, which donated 32 percent of the fundraising total. The rest came from individuals (30 percent); foundations (27 percent); and other organizations, including trusts and estates (11 percent).

Ann Kaplan, director of the Voluntary Support of Education survey, said that UA's percentage of corporate giving last year -- about 37 percent -- easily topped the average for similar public research universities, which averaged about 21 percent from corporate giving. Numbers for average corporate giving for the most recent fiscal year are not yet available, she said.

Power said UA "has for many years had strong corporate giving."

Carlson said there's more competition for philanthropy dollars than in the past, with health care organizations "much more aggressive" in raising funds.

"It used to be, year in, year out, you'd give to your alma mater and your church, but I think that's less true," Carlson said.

The university released a statement from two benefactors, Doug and Shelley McMillon, who gave $1 million in support of an endowment for a proposed new retail school within the Sam M. Walton College of Business. Doug McMillon is Walmart's chief executive officer and a UA alumnus.

"There is strong alumni support for the university because we know how much it has meant in our own lives, and we're committed to strengthening this world class institution for generations to come," the couple said in a written statement.

While many benefactors become public, Power said UA also received five gifts of over $1 million from benefactors who did not give permission to have UA release details of their gifts.

UA also released a breakdown of where funds will be distributed, with 48 percent going to students and programs, 31 percent for capital improvements, 16 percent to support faculty and staff and 5 percent for other initiatives.

About one-fourth of the giving total will go to endowed funds, with UA reporting a 36 percent increase in such funding compared with last year.

An updated total endowment was not available, but last year UA's endowment was $818 million.

"The appeal of the endowment is that these are gifts that are going to be held in perpetuity. They're going to continue to make a difference year in and year out," Power said.

NW News on 08/05/2014

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