Donor Generosity Fuels Strong FY24 Financial Report for the University of Illinois Foundation

URBANA, Ill. -The University of Illinois Foundation is pleased to announce its financial report for Fiscal Year 2024 (July 1, 2023-June 30, 2024). The treasurer's report indicates a new business* figure of $461.0 million and a cash** figure of $453.5 million, marking the first time in history that both new business and cash exceeded $450 million in a single fiscal year.

James H. Moore, Jr., president/CEO of the University of Illinois Foundation said these historic figures are the result of nearly 50,000 donors who made more than 158,000 gifts in support of the University of Illinois System and its three universities in Urbana-Champaign, Chicago, and Springfield. "The thousands of generous donors who invest in the University of Illinois every year are elevating our institutions through their altruism and philanthropic support," said Moore. "The loyalty and generosity of our donor community helps build, maintain, and enhance the strong reputation we enjoy nationally and around the world. Our donors are meaningful and important partners in all we do and aspire to achieve."

In FY 2024, alumni and friends were the largest group of donors, followed by corporations and foundations. Donors gave $305.6 million or 67.4 percent to the University of Illinois as current use funds, which can make an impact almost immediately in important areas such as student and faculty support, research, facilities, and academic programs. Endowed funds, annuities, and life income funds-which are utilized to support the long-term stability and excellence of the University of Illinois-combined for the remaining $147.9 million or 32.6 percent of the cash total. All donor-contributed endowments have a fund agreement executed between the donor and the Foundation, outlining the terms and use of the income from their endowment gift. These restrictions can specify that the income only be used for certain purposes, such as scholarships, research, faculty chairs, or specific programs. The Foundation has a fiduciary responsibility to honor donor intent and is legally bound to administer the gifts in accordance with this documentation.

The University of Illinois Foundation's active endowment grew to $2.99 billion in FY 2024 and boasted a 10.7 percent return on investments, topping the previous year's nine percent return and ranking the Foundation's return among the best in its peer group of endowments valued at more than $1 billion. Through the endowment, the Foundation distributed $90.1 million to the University of Illinois System, including $71.6 million to the University of Illinois Urbana-Champaign, $15.1 million to the University of Illinois Chicago, $1.1 million to the University of Illinois Springfield, and $2.3 million to the University of Illinois System offices.

The complete FY 2024 University of Illinois Foundation Annual Report will be released in late November on the Foundation's website. Print copies of the report will be available upon request. The annual report will share expanded financial details, insights from the chief investment officer, and more news.

* New business includes new gifts, grants, pledges, and deferred commitments.

** The cash figure includes outright cash gifts, pledge payments, annuity/life income gifts, and estate distributions.