$26.3 Million: UofM Setting Back-to-Back Records for Academic Fundraising
May 23, 2019 - The University of Memphis has secured consecutive records with $26,321,435 in academic commitments during the fiscal year ending June 30, surpassing the previous record of $23,145,635 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.
"Our generous donors provide the critical resources our students need in order to be successful, and to set records in consecutive years is tremendous for the growth of the University of Memphis," said President M. David Rudd. "Their investments not only enhance the University's ability to serve students but also support programs that bring distinction to the UofM. We are constantly striving to enhance the academic programming and resources we offer."
Several factors contributed to the record level of support, including:
• $1.8 million from the Suder Foundation, the Assisi Foundation of Memphis and other donors to improve outcomes for first-generation college students. The funds will create an Office of First-Generation Student Success and establish an endowed scholarship fund for first-generation students.
• A bequest from Mary and Neil Aronov which will benefit the Clinical Psychology program and the Cecil C. Humphreys School of Law;
• Continued support for the River City Partnership with a $1 million gift from International Paper and $100,000 from the Walmart Foundation. The River City Partnership is an initiative to improve the quality of urban education by addressing the critical challenges facing Shelby County schools around teacher recruitment, retention and training; and
• More than 5,700 alumni have made a gift to a campus initiative that matters most to them, from the Tiger Pantry, which helps many of the 69% of UofM students who faced food insecurity in the last year, to the Memphis Fund, which provides support to enhance the student experience.
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.