Breaking News Bar
updated: 3/8/2013 4:20 PM

U of I looks to rely less on state support

hello
Success - Article sent! close
 
Associated Press

URBANA -- University of Illinois officials say the likelihood of cuts in the school's state appropriation means they should plan to rely more heavily on private fundraising.

Thomas Farrell is president of the University of Illinois Foundation, the school's fundraising arm. According to The News-Gazette in Champaign, he told university trustees Thursday that the foundation's goal is to double cash donations and the size of the school's endowment over the next decade.

Under Gov. Pat Quinn's new budget proposal the state would reduce the university's appropriation next year by about $33 million to $634 million. The state currently provides about 13 percent of the university's roughly $5 billion operating budget.

The university's endowment is now about $1.5 billion. Last year the university was given about $211 million in cash donations.

Share this page
Comments ()
Guidelines: Keep it civil and on topic; no profanity, vulgarity, slurs or personal attacks. People who harass others or joke about tragedies will be blocked. If a comment violates these standards or our terms of service, click the X in the upper right corner of the comment box. To find our more, read our FAQ.