Illinois State University donors set a record amount for giving in the budget year that ended July 1.
ISU took in more than $52 million in private support. It is the sixth straight year of increased donations for the institution. Since Fiscal Year 2021, donations have more than doubled. ISU called that “one of the strongest periods of philanthropic growth in the university’s history,” according to a news release.
“This extraordinary milestone belongs to the thousands of alumni, friends, companies, and organizations who believe in Illinois State,” said ISU President Aondover Tarhule. “We are grateful for their generosity and trust.”
Endowment
ISU’s endowment fund topped $270 million last fiscal year, an increase of roughly $75 million since FY 2021. The current endowment size was above the median of $254 million for 657 higher ed institutions that reported results in the annual National Association of College and University Business Officers [NACUBO] Common Fund study of endowments.
ISU's endowment value rose roughly 12.5%. That includes new contributions and return on investments offset by payments made for scholarships and other purposes. ISU said its return on investment alone was 9.64%. That compares to a one-year national higher-ed average return of 10.9% from the NACUBO study. The average one-year stock market performance was above 12%, according to a Dow Jones return calculator. It is common for higher education institutions to have returns that are less than marketwide averages because endowment investment managers tend to prioritize stability and security.
“Philanthropy has become an accelerant for Illinois State,” said Pat Vickerman, vice president for University Advancement. “It allows us to move faster, scale ideas that work, and invest in opportunities that create lasting value for our students and the state.”
Where it goes
ISU awarded more than 4,500 scholarships totaling over $6 million last year.
A $2.35 million gift from the Wheeler Foundation went to expand the Paraprofessionals Unlocking Licensure in Special Education [PULSE] program. In the four years since its launch, the program has grown from 55 students to 120 students. ISU partners with more than 136 school districts to prepare licensed special education teachers in Illinois.
