Financial Highlights: Fiscal Year 2007—2008
Total assets under the management of the U of L Foundation was $949.6 million, a decrease of 3% compared to the close of the previous fiscal year. The Foundation received $34.1 million in gifts and $2.2 million in matching Research Challenge Trust Funds during the fiscal year.
Disbursements by the Foundation on behalf of the University rose to $59.4 million. The funds support scholarships, fellowships, academic program development, chairs, professorships, lectureships, faculty development, research, equipment, facilities and the UofL libraries.
The UofL Advancement Office receives approximately 95% of its gift solicitation budget from the Foundation. This money allows the Advancement Office to facilitate new gifts and endowments.
Other financial highlights:
– The Foundation's $101.7 million annual budget represents approximately 12% of total expenditures of the University.
– Scholarship and fellowship awards of $6.9 million made attendance at U of L a reality for many students and eased the financial burden for many others.
– New scholarship endowments were established during the year through aggregate gifts of $2.2 million.
– The total number of scholarship endowments rose to 511, with a total market value of $168.3 million.
– $12.7 million in disbursements from the Foundation were directed toward faculty salaries, which enabled the University to continue to attract and retain the highest caliber of faculty for teaching, research, and public service.
– Cash gifts, gifts-in-kind, new pledges, and new expected bequests equaled $86,600,793 for 2008.