$44.1 Million: A Record for UofM Fundraising
July 18, 2019 - The University of Memphis secured a record $44.1 million in fundraising during the fiscal year which ended June 30, including $32.5 million for academics and $11.6 million for athletics. The previous record was $37.9 million in fiscal year 2016.
Academic fundraising has set records in consecutive years. The $32.5 million for academics surpasses the previous record of $23.1 million raised in fiscal year 2018. The total includes gifts of cash, pledges and planned gifts from alumni, friends, corporations and foundations to the University of Memphis Foundation.
Private contributions impact the lives of students and improve the educational experience at the University of Memphis.
“Donors are investing in the University in historic fashion,” said President M. David Rudd. “The UofM has had record success, raising $167 million in a five-year stretch. That number represents two annual records for total fundraising and two record years for academic fundraising, coupled with record increases in total donor numbers. We also have seen unprecedented growth in corporate partnerships.”
Several factors contributed to the record level of academic support at the end of the fiscal year, including support for the STEM Research and Classroom Building.
In addition, donors were inspired to provide gifts for student scholarships. Approximately 86% of all UofM students receive some sort of assistance in the form of either merit or need-based aid. Scholarships awarded to motivated and qualified students positively influence recruitment, retention and graduation rates.