U of M records second-largest year for donationsby Elizabeth Dunbar, Minnesota Public Radio
St. Paul, Minn. — The University of Minnesota brought in $267 million in gifts and pledges in the past year, the second-largest amount ever collected, officials announced Thursday.
More than a third of the money received during the 2009 fiscal year that ended June 30 came from two large donations and funds raised for the new on-campus football stadium.
The large gifts included $50 million from Caroline Amplatz for the University of Minnesota Amplatz Children's Hospital and $40 million from the Richard M. Schulze Family Foundation to fund research to cure Type 1 diabetes. TCF Bank Stadium received $11 million from donors in 2009, which became part of the $89 million in private gifts and sponsorships that were raised for the project.
The university brought in $289 million during the 2008 fiscal year, but President Robert Bruininks said this year's total is notable given the recession.
"Despite the worst financial crisis since the Great Depression, donors to the University of Minnesota seek to fund research that changes our lives, to support talented students who feed our economic vitality as a state and to build assets only the university can bring to our state and our world," Bruininks said.
Donors gave the university $35 million in the past year for student scholarships and fellowships, and $27 million was distributed to students during the same period.