Donations to MU increase $4 million in 2013

Donations to MU increase $4 million in 2013

Donations to Marquette reached more than $47 million in fiscal year 2013, an increase from $43 million last year.

According to University Advancement, more than 28,000 benefactors pledged financial support to Marquette, a 3 percent increase from last year. The university received three gifts of over $1 million, including a pledge of $8.3 million to the College of Communication to fund the O’Brien Fellowship in Public Service journalism.

With the increase in donations, Marquette will be able to fully endow 30 new scholarships. The Blue & Gold Fund, which provides financial support for student athletes, also reached a new high of $4 million, up from $3.3 million a year ago.

The President’s Society, which recognizes donors who contributed at least $2,500 over the past fiscal year, grew by 1,756 members – an increase of 15 percent, according to University Advancement.

Students’ tuition fees only cover about 62 percent of the university’s budget, with the rest comprised entirely of financial gifts from donors. In 2012, Marquette’s operating budget was $363.7 million and revenue from tuition was $215.7 million. In addition, 98 percent of undergraduate students received financial aid in 2012, amounting to $102.9 million in tuition discounts in the form of scholarships and grants.

To promote awareness of Marquette’s reliance on donors, University Advancement holds “Tuition Runs Out Day,” every spring semester, about 62 percent of the way into the school year, to denote when student tuition stops funding Marquette.

The idea behind the event is to get students talking about the financial state of the university and to give proper thanks to donors whose support keeps Marquette operating. Last February, students signed more than 700 thank you notes that were sent out to donors.