U Rises in Annual VSE Rankings;
Now Fifth Among Public Universities
| What: |
Council for Aid to Education rankings released |
| Contact: |
Mike Peluso, University of Minnesota Foundation, (612) 626-0502
David Ruth, University News Service, (612) 626-1720 |
MINNEAPOLIS / ST. PAUL (3/4/2005) -- The University of Minnesota has risen among public universities in the annual rankings on Voluntary Support of Education, according to figures released this week by the Council for Aid to Education (CAE). The survey tracks gifts and non-contractual grants.
The University of Minnesota ranked fifth among public universities for fiscal year 2004, compared with seventh the previous year. Among all universities, public or private, the U of M ranked 15th in 2004, the same as the previous year, with $245.6 million in private support.
The University of California, Los Angeles, ranked first among public institutions, while Harvard University ranked first among all universities. Among Big Ten schools, the U of M was third, behind Wisconsin and Indiana.
Gerald Fischer, president and chief executive officer of the University of Minnesota Foundation, which serves as the central development office of the university, said he is heartened by the survey results.
"We are blessed to have a large number of individual and institutional donors who value higher education and who want to help build one of the world's great public research universities in Minnesota," Fischer said. "It also reflects the gratitude felt by so many alumni and Minnesota citizens for how well the university has served their quality of life and careers."
The figures include private support raised by the Minnesota Medical Foundation, which raises funds for health-related education and research at the University of Minnesota.
The findings are from the annual Voluntary Support of Education (VSE) survey, which has tracked giving to higher education and private K-12 schools for more than 50 years.
Contributions to colleges and universities in the United States increased by 3.4 percent in 2004, buoyed by increased giving from individuals, according to CAE. Private support for the U of M overall increased 2.6 percent in 2004, while the value of gifts from U alumni increased by 37.7 percent.
Nearly half of the $24.4 billion raised nationwide in 2004 came directly from individuals, a 9.7 percent increase over the year before, according to the VSE survey. Though alumni giving is the traditional base of higher education giving, representing between a quarter to almost a third of all voluntary support, alumni giving nationally grew by only 2 percent in 2004.
The 971 institutions that participated in the 2004 survey represent more than half the nation's four-year institutions, including 79.3 percent of research and doctoral institutions. Respondents generally account for about 85 percent of the voluntary support raised by all colleges and universities.
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