Last modified: Thursday, March 25, 2004
IU again among nation's top 20 in private sector support
BLOOMINGTON, Ind. -- Nearly $250 million in gifts and grants in fiscal year 2003 placed Indiana University among the top 1.5 percent of all colleges and universities in the nation in the amount of support it receives from the private sector.
IU received $164.4 million in gifts from donors and $85.6 million in research grants from private-sector sources. IU ranks seventh in the nation among public universities and second in the Big Ten.
The rankings are compiled annually by the Council for Aid to Education. Nearly 1,000 colleges and universities participate in the survey. IU has placed in the top 20 in 12 of the last 14 years.
"Donors and grant-makers believe in IU's academic excellence," said IU President Adam W. Herbert. "They know that IU makes, and will continue to make, significant contributions to the state in economic development, medical research, information technology, the arts and humanities and discovery of knowledge."
"This extraordinary level of private-sector support shows that IU's contributions are critical to the future vitality of the state and to the quality of life of Hoosiers every day.," Herbert said.
In a year when giving to higher education was flat nationally, IU's gift total increased by 60 percent. "We know that giving goes up and down from year to year," said Curt Simic, president of the Indiana University Foundation, "but we look for a trend line that goes up over time. Ten years ago, IU received $49 million in gift support. Our average over the past five years is more than $140 million annually."
"Our increase this past year was due, in part, to very generous support and challenge gifts from the Lilly Endowment to encourage giving from alumni, parents, students, faculty, staff and governing board members," Simic added. "The members of the IU Foundation's board of directors alone gave and pledged more than $70 million in the past 10 years. Our board and other volunteers, along with deans and development officers at IU and the IU Foundation, have worked hard to raise gift funds for IU."
IU had a record 105,977 donors for the giving period.
Non-governmental research grants also set a record in fiscal 2003. For the first time ever, IU received $85.6 million in such grants.
Michael McRobbie, IU vice president for research, attributed the increase to "outstanding faculty members whose ground-breaking work the private sector is eager to support."
" We are delighted to have set a new record," McRobbie said. "Grant support has increased by nearly 50 percent in the last 10 years."