Financial Highlights: Fiscal Year 2010-2011
For FY ending6/30/12, total assets under the management of the U of L Foundation was $963.6million, a decrease of 2% compared to the close of the previous fiscal year. The Foundation received $55.7 million in gifts during the fiscal year.
For FY ending6/30/12, disbursements by the Foundation on behalf of the University rose to $67.0million. The funds support scholarships, fellowships, academic program development, chairs, professorships, lectureships, faculty development, research, equipment, facilities, and the U of L libraries.
The UofL Advancement Office receives 100% of its gift solicitation budget from the Foundation. This money allows the Advancement Office to facilitate new gifts and endowments.
Other financial highlights:
- For FY 2012-13 the Foundation’s $141.8 million annual budget represents approximately 11.6% of total expenditures of the University.
- Scholarship and fellowship awards of $6.3 million made attendance at UofL 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 $1.75 million.
- $30.6 million has been allocated from the total FY 2012-13 Foundation budget toward salaries and wages, which enabled the University to continue to attract and retain the highest caliber of faculty for teaching, researching, and public service.
- Cash gifts, gifts-in-kind, new pledges, and new expected bequests equaled $145,252,678 for 2012.
- Foundation funding now exceeds net state appropriations. For FY 2012-13 net state appropriations are $141.2 million and the Foundation annual budget is $141.8 million.