Pictured in front of the Charles J. Hoff Alumni Scholarship Center, UMass Lowell’s first dedicated alumni center that opened this year at 1 Perkins Street, students say “thank you” to the donors who supported the university during FY14.
Fundraising is breaking records at UMass Lowell. For the sixth consecutive year, the university secured an increase in gifts and pledges, supporting areas such as student scholarships, facilities, academics and endowment funds. Private fundraising is an essential aspect of funding the high-quality education UMass Lowell provides.
During fiscal year 2014 (July 1, 2013 to June 30, 2014), $20.6 million was raised in private support. This represents a six percent increase over last year, extending an upward trend that started in 2010. Over the last six years, the university has secured a total of $93 million in total from fundraising efforts.
Successful Progress for UMass Lowell’s First-ever Comprehensive Campaign
To date, $25 million has been raised during the “quiet” phase of UMass Lowell’s first-ever comprehensive fundraising campaign, which launched in July of 2013. Our Legacy, Our Place: The Campaign for UMass Lowell is projected to raise over $100 million to support strategic campus priorities. The quiet phase of Our Legacy, Our Place will continue over through fall of 2015, while the university establishes momentum through leadership giving before the campaign is announced to the public.
During the last fiscal year, 44 new endowment funds were created. In total, $3.1 million in gifts and pledges were secured in FY14 toward the university’s endowment, which now stands at $78 million. The endowment’s dramatic growth allowed the university to disperse more scholarship support than ever to deserving students, helping them to keep their educational costs down—UMass Lowell is meeting 90 percent of requested financial aid need and building the endowment continues to be a critical priority to providing accessibility to a top-notch education.
As the university continues to grow, the number of alumni and friends contributing and participating in events and programs does as well. This year’s fundraising gain represents an increase in across-the-board support by alumni, faculty and staff, friends, corporations and foundations, as the number of UMass Lowell donors grew by five percent. Alumni represented 8,383 of those who gave, resulting in an 11.8 percent participation rate of all undergraduate and graduate alumni.
The university offered almost 100 events for its alumni and friends populations to gather, reconnect and network locally and across the world, the greatest number to date. The biggest single fundraising event was the annual Commencement Eve Celebration. This annual tradition has demonstrated sustained momentum since it began in 2008, breaking its own fundraising record each year. In total, nearly $3.1 million has been raised for scholarships through this signature fundraiser.