Gifts to University of Arkansas Up 13 Percent, Bucks National Trend

FAYETTEVILLE, Ark. – In spite of a downturned economy and a generally poor national fundraising climate, the University of Arkansas has raised $45,347,754 at the midway point of the 2010 fiscal year on Dec. 31, 2009, which is 13 percent more than the $40 million raised during the same period last year. The total accounts for 53 percent of the annual goal of $85.4 million.

“To be at more than 50 percent of the goal in 50 percent of the time is an outstanding way to ring in the new year,” said Brad Choate, vice chancellor for the Division of University Advancement. “The fact that the University of Arkansas continues to raise significant levels of private gift support is a clear indication that people are ‘voting with their checkbooks’ and making support of higher education at the University of Arkansas a priority even in difficult times.”

“The generosity and loyalty of Arkansas’ many supporters only continues to grow,” Chancellor G. David Gearhart said. “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.”

The amount raised thus far includes outright gifts of cash, gifts-in-kind, new planned gifts and new pledges secured between July 1, 2009, and Dec. 31, 2009. It includes funds designated for academic and athletic purposes such as need-based scholarships, study abroad, the Razorback Foundation and University Libraries. There was an increase in the number of individual donors and in the number of gifts as well. So far this year, the number of benefactors has increased by 17 percent from 18,114 to 21,216 benefactors. Those benefactors made 25,691 gifts, which is a 21 percent increase over the 21,216 gifts received over the same period in 2008.

“Charitable giving is essential to our ability to provide an outstanding educational environment,” Choate said. “We just announced mid-year budget cuts and are faced with cutting another $3.2 million between now and June 30. As state funds are cut, philanthropic dollars become even more important. Both public and private support are critical and complementary funding sources.”

The Council for Aid to Education, a nonprofit organization with a mission to advance support of higher education, reports preliminary data from 2009 suggesting that giving has fallen 15 percent at college and universities across the country. Market volatility, personal asset losses, unemployment and general anxiety about the economy are just some of the indicators cited by education consultants to explain why charitable giving has decreased or remained flat for many institutions.

“Our mission has been to tell the university’s story and describe its needs to potential donors,” Choate said. “Times are tough, yet people understand the importance of supporting the University of Arkansas and continue to make it a priority for their charitable gifts. Our donors know that every dollar of their support helps to make life better for someone in Arkansas – and particularly students – and we hope they continue to do so.”

The Chronicle of Philanthropy, a publication that follows trends in giving and nonprofit organizations, predicts that giving to charitable organizations will decline by a median of 9 percent during 2009. It reports that the number of large gifts made to organizations was down from the previous year, and suggests that the outlook into 2010 isn’t much better. That publication’s annual list of the top 400 charities, ranked according to their ability to attract private funds, places the University of Arkansas at No. 235 on its 2009 Philanthropy 400 list.