University of Iowa News Release
Feb. 13, 2004
Record Number Of Contributors Make Gifts To UI In 2003
- Donors also set new high mark for future gift commitments
In 2003 the University of Iowa Foundation received gifts for the University of Iowa from more than 62,000 contributors, a record number in the foundation's 48-year history.
In a year that saw the beginnings of recovery for the U.S. economy and for stock market returns after a three-year downturn, the UI Foundation also set a new record for future gift commitments made through wills and trusts, and for the number of gifts and total dollar amount raised through online giving.
All of the foundation's major indicators of giving put 2003 in the top five years in its history. In light of a recovering economy and the fact that the UI received its largest pledge commitment ever in 2002 -- $53 million from the Roy J. Carver Charitable Trust -- the 2003 performance is all the more remarkable, said UI Foundation President Michael New.
"We couldn't be more gratified by the incredibly high level of support for this great university made by a record number of contributors in 2003," New said. "The number of givers, the number of gifts and the vote of confidence in the future by those making deferred gifts give us great encouragement as we pursue the goals of our current campaign."
In 2003, outright gifts to the foundation totaled $62.4 million, the fourth highest total in UI Foundation history. The 105,173 gifts received by the foundation marked the second-highest total. Deferred-giving expectancies recorded in 2003 through means such as wills and trusts came to $48.9 million, a 39.1 percent increase over 2002 giving in this category. When outright gifts and future commitments, including pledges to be paid in future years, are combined, the foundation's total fund-raising productivity in 2003 reached $126.3 million, the third-highest amount ever recorded.
"All things considered, 2003 was a highly successful year -- among our most productive," New said. "The really good news is that the generally high level of private support for the UI has been sustained during the past several years, despite the challenge of the economy."
When the foundation's total productivity in 2003 is added to the $28 million in outright private support given directly to the UI, the combined total of current and future private support committed to the UI and foundation in 2003 is $154.4 million, the third highest in foundation history.
"The strong year for private support in 2003 -- and for many years before that -- is the result of a vital partnership among many key groups," said UI President David J. Skorton. "Foremost, of course, are the thousands of alumni and friends who commit generously from their resources to help propel this university toward the next level of accomplishment and service. Next, the superb students, faculty, staff and administrative leaders here are excellent ambassadors for the university to Iowa and the world.
"Finally, we are grateful to the fund-raising professionals at the UI Foundation who work in partnership with our deans and directors to tell the university's compelling story and who do so well at matching donors' interests with the UI's private resource needs."
Contributors continued to take advantage of the foundation's online giving option in 2003. More than 1,500 gifts totaling more than $360,000 were made through the foundation's web site, http://www.uiowafoundation.org. This represents a 51 percent increase in number of gifts and an 84 percent increase in dollars from online gifts compared to 2002. The number of people using the foundation's web site to make their first gift to the UI was 247.
Nearly 60 percent of the 2003 outright gifts went toward program support (including research), 15.6 percent went toward student support (including scholarships), 18.2 percent supported facilities improvements and 8.6 percent was given for faculty support, such as endowed chairs and professorships.
Other highlights of private giving to the foundation in 2003 include:
See more updated numbers and annual highlights in the annual statistics and rankings section of the foundation's web site at http://www.uiowafoundation.org/about/statistics.
At the end of 2003, the university's "Good. Better. Best. Iowa" campaign had raised more than $695 million toward its $850 million goal. The campaign, which continues through the end of 2005, has achieved 82 percent of its dollar goal with only 71 percent of its total timeline elapsed. Campaign gifts have created 229 named, undergraduate scholarships; 65 new Presidential Scholarships; 82 named faculty positions; and have helped provide a significant portion of 440,000 square feet of classroom, lab and meeting spaces in six new campus facilities.
The market value of the endowment pool managed by the UI Foundation at the end of 2003 stood at $486.7 million, the highest level ever and up from $400.2 million at the end of 2002. The one-year return for 2003 on the foundation's long-term investment pool was 21.8 percent.
The University of Iowa Foundation is acknowledged by the UI as a preferred channel for private contributions that benefit all areas of the UI. Foundation staff work with a volunteer board of directors, the university's administration, colleges and departments to set fund-raising priorities; expand the base of contributors; provide stewardship to multiply funds already raised and conduct a variety of activities and fund-raising campaigns that advance the university's strategic goals.
STORY SOURCE: The University of Iowa Foundation, Levitt Center for University Advancement, One West Park Road, P.O. Box 4550, Iowa City, Iowa 52244-4550.
CONTACTS: Media: Susan Shullaw, vice president-communications and campaign support, UI Foundation, 319-335-3305 or 800-648-6973, firstname.lastname@example.org; Writer: Forrest Meyer