IT celebrates record year of giving

In the most recent fiscal year, more than 5,800 alumni, friends, corporate, and foundation donors gave a record amount totaling more than $27 million in gifts and pledges to the Institute of Technology. This was an increase of nearly 250 percent in private support compared with the previous year.

Of the total received in fiscal year 2007, a $4 million gift was secured for the new Gemini Chair in Management of Technology, a $10 million gift will support graduate fellowships, and eight new endowed undergraduate scholarships and 10 new graduate student fellowships will be established. Additionally, Campaign FIRST, the fundraising campaign for fellowships in the Department of Chemical Engineering and Materials Science (CEMS) reached $13 million toward its goal of $20 million.

“We are very pleased with the support our donors have shown,” said Steven Crouch, dean of the Institute of Technology. “These gifts are crucial to maintaining the excellence of our programs, attracting top faculty, recruiting the best and brightest students, and supporting research that will improve our everyday lives.”

Overall, giving and pledges to the University of Minnesota were up in fiscal year 2007. The total was $251 million, a 39 percent increase from a total of $181 million in fiscal year 2006. Read more>>