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For the third year in a row, giving to UM has topped $50 million. At the close of fiscal year 2016, private support totaled $53.67 million, just edging out the previous fundraising record set in fiscal year 2014, which was $53.66 million.
“People believe in UM and in its future – you can see this by their continued support,” says Shane Giese, president and CEO of the UM Foundation. “We hope this news will motivate and inspire continued giving to our great University.”
Gifts came from all sectors – individuals, foundations and corporations – and included cash, pledges, estate commitments and private grants. Donors supported a variety of areas, including scholarships, campus facilities, and faculty and student research.
Numerous large gifts of over $25,000 boosted total dollars raised, as did private grants. UM received $11.3 million from private foundations and corporations this year, nearly doubling the amount raised in that area in FY2015.
Three consecutive years above $50 million has helped the UM Foundation exceed a goal set in 2013, when the organization launched the Investing in Student Success Initiative. Through the initiative, the Foundation set out to raise $45 million for scholarships and fellowships, dynamic learning environments and program enrichment. Thanks to sustained support from committed donors, the organization has exceeded that fundraising goal by 37 percent, raising a total of $62 million. The $45 million goal was met a year early, at the end of FY2015.The majority of donations toward the Investing in Student Success Initiative – $51 million – were directed to student scholarships and fellowships.