KU among fundraising leaders
Slick new additions to the Kansas University basketball environment accounted for most of it, and, according a report by the Council for Aid to Education, KU ranked 10th nationally in private donations during the 2014-15 fiscal year among universities that responded to the survey.
Not all Division I schools participated in the voluntary survey.
Kansas brought in nearly $25 million during fiscal year 2014-15, an increase of almost $3 million from the previous year.
“Our donors have taken great pride in trying to ensure that we compete with the best universities in the Big 12 and the best universities in the nation,” Jim Marchiony, KU’s associate athletic director for public affairs, told the Journal-World. “To do that takes committed donors, which we have.”
A good chunk of that money came in to fund McCarthy Hall, the $11.2 million dorm that was completed in October and houses the men’s basketball team and 21 non-athlete residents, and the DeBruce Center, an $18 million addition to the northeast corner of Allen Fieldhouse that will display James Naismith’s original rules of basketball when it opens in the near future.
Even with the solid haul of donations, KU’s athletic department operated at a small loss during the 2014-15 fiscal year, with expenses totaling $92.21 million and revenues totaling $91.86 million.
KU officials told the Journal-World that roughly $6 million of the 2014-15 expenses went toward compensation for fired football coach Charlie Weis and his staff, and they were pleased to note that, even with that, the school nearly absorbed all costs associated with Weis’ buyout.
“We operated within our operational budget and covered it with donations and reserves,” said KU chief financial officer Pat Kaufman.