The University raised $135 million during fiscal year 1998 from alumni and friends, corporations, and foundations--an increase of 26 percent over the previous year. The University consistently ranks in the top 20 colleges and universities in terms of total voluntary contributions, which also include noncontractual research funding.

The combined endowments of the University of Minnesota, the University of Minnesota Foundation, and the Minnesota Medical Foundation were $1.3 billion in 1998, an increase of 18 percent over 1997. Endowment funds are designated primarily to student scholarships, academic programs, and endowed chairs and professorships. These endowed faculty positions now total 250, as compared with 17 before 1985. Several capital improvements--including new business school and mechanical engineering facilities--were all made possible by private gifts.

The University received $350 million in contract and grant awards in fiscal year 1998, creating thousands of jobs for Minnesotans. In 1997, the University received 68 patents, more than double the number in the previous year.

Back to table of contents