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The KU Endowment announced Tuesday that total donations for fiscal year 2013 were $174.2 million, an 11 percent increase over last year's total of $156.5 million and a record for the association.
The year's fundraising marks the sixth in a row that the endowment has broken a record made by the previous year's fundraising
The funds, given by alumni, businesses, foundations and other university supporters, will go to pay for scholarships, professorships, facilities, research and other programs at Kansas University and Kansas University Hospital. Along with big ticket items, funds also go toward funding student travel, field trips, fees for lecturers, research equipment and other expenses.
Most of the donations were earmarked for specific purposes. Of the $174 million raised, just $2.6 million was given as unrestricted funds, said Dale Seuferling, KU Endowment president.
Of 2013's total contributions, $143.3 million was in outright gifts, pledges and life income gifts, another $30.4 million was in deferred commitments, and $500,000 was in contributions made directly to KU.
About $146 million in funds came as cash or equivalent revenue that can be used during the coming year to pay for scholarships, faculty salaries, construction projects and other commitments.
The fundraising year has helped the endowment close in on its long-term goal of raising $1.2 billion by 2016. To date, the endowment has raised $923 million toward that goal, dubbed "Far Above: The Campaign for Kansas."
Seuferling credits the university itself with driving the fundraising success. "I think, most importantly, the quality of the programs at the university and the progress the university is making in terms of its strategic planning is very inspiring and engaging for donors," he said.
The endowment announced in July that KU had won an award for its educational fundraising from the Council for Advancement and Support of Education for the second year in a row. KU was one of four public research universities with doctoral programs to win the award.