Donations to colleges, universities and other educational organizations rose by 9.4 percent to $38.6 billion nationwide, according to a report released Monday by the Giving USA Foundation.
UT has received about $151 million this year from private and public donors, said James Kunetka, assistant vice president for development at UT. About $9 million goes toward faculty needs, $24 million goes toward student support, $17 million goes to buildings and infrastructure, and $100 million goes toward programs and research, he said.
This is a more than $30 million increase from the previous fiscal year, Kunetka said. The number of gifts has also increased from 71,700 last year to 77,700 this year, he said.
Kathleen Schrader, director of gift planning at UT, said the number of commitments to make donations has also increased from last year. The Office of Gift Planning helps donors structure their gift in a way to get the best tax results and also handles donations left to the University in wills, said Schrader.
The bulk of the University's contributions come from individual donors, who gave a total of $82 million in fiscal year 2005, Kunetka said. The remainder of the contributions are $26 million from corporations, $26.5 million from foundations and $6.9 million from estate gifts. The remaining $9 million comes from other sources, such as people giving through family foundations, he said.
UT business marketing professor and former UT Chancellor William Cunningham said he understands the importance of making gifts toward education. He has donated money toward student scholarships, athletics and other special programs, he said.
"I've been committed to higher education for 35 years. I believe UT Austin and institutions like UT are vehicles that can really change society," said Cunningham, "I enjoy giving to the University."
UT alumnus Dick Rothwell is a supporter of the College of Engineering and said he donates to UT because education is an important area that needs funding. Donating helps the college continue to compete with other schools nationwide, he said.
"I always remember how beneficial it was for me to receive financial aid through my scholarship," Rothwell said. "I was grateful for that help."
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