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July 22, 2020

UConn Foundation's $89.5M fundraising haul is largest ever

Photo | Contributed The UConn campus in Storrs.

The University of Connecticut's fundraising arm marked its highest annual fundraising total ever in fiscal 2020, with $89.5 million in gifts collected.

The UConn Foundation’s fiscal 2020 fundraising total -- which was raised between July 1, 2019 and June 30, 2020 -- is a 25% jump from fiscal 2019, when the UConn Foundation collected $74.1 million from donors, the organization said. Just over 18,400 people donated to the foundation in fiscal 2020.

"This fundraising milestone is testament to the dedication, vision, and immense generosity of UConn Nation,” said UConn Foundation President and CEO Scott Roberts.

Money raised will be put to use on various initiatives and programs meant to boost financial support for students, according to the Foundation. That includes a $1.4 million increase for scholarships and fellowships.

"Philanthropy is more critical today than it has ever been," UConn President Thomas Katsouleas said. "Scholarships and fellowships for our students provide them with vital support that keeps a UConn education within reach."

High fundraising totals are a rare silver lining for UConn, which last month cut four of its sports programs, including men's tennis and women's rowing, as the state’s flagship university projects a $47 million budget shortfall for the fall semester.

That shortfall is largely attributable to losing millions of dollars in housing costs for in-state and international students as the school reduces on-campus living to prevent the spread of COVID-19, according to projections. 

Katsouleas told members of UConn's board of trustees last month that the university expects to see an $8.2-million loss in revenue from in-state students, and $12.9 million from international students. One bright spot, he said, is an expected $9.9 million increase in revenue from out-of-state students, based on housing deposits they're seeing.

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