UConn Claim: For Every $1 in State Funding to University, $11.80 Generated for Economy

An announcement from the UConn Foundation:

UConn generates $11.80 for every state-funded dollar, according to a report prepared

by an independent analyst and released this week by the University. Using the same formula, that

means that the $50.9 million made available to UConn in fiscal 2014 from private gifts and commitments

through the UConn Foundation generated more $600 million for the state’s economy, the UConn

Foundation announced today.

“Donors take tremendous pride in the transformation underway at UConn,” says Joshua R. Newton,

president and chief executive officer of the UConn Foundation. “They have demonstrated their support

by increasing their philanthropic support for the University.”

In recent years, UConn’s alumni and friends have steadily increased their new gifts and commitments to the University, from $42.6 million in 2009 to $81.1 million in 2014.

Philanthropic support in fiscal 2014 to UConn increased by 27.4 percent over the preceding year, the

highest level of private new gifts and commitments to the University in the 50-year history of the UConn

In fiscal 2014, new contributions and commitments from donors were:

• $21.6 million for student support

• $7.2 million for research

• $4.6 million for faculty

• $43.9 for programs support

• $3.8 million for capital improvements

“We are particularly proud of donors’ support for students, which enhances their academic experience

and ensures UConn continues to attract talented students,” says Newton.

“As UConn embarks on new initiatives like Next Gen Connecticut, we want to continue to align our

fundraising efforts with university priorities, leveraging the significant investment made in UConn by the

state and its citizens and helping the university continue to achieve its objectives,” says Newton.

The $3.4 billion annual economic value of UConn to the state was calculated by the national research

and consulting firm Tripp Umbach, and it was released by the University Wednesday. UConn’s impact

includes more than 24,000 jobs, over $202 million in tax revenue, and roughly $373 million from

research, according to the Tripp Umbach report.

For more information on UConn’s economic impact on Connecticut’s economy, visit

www.economicimpact.uconn.edu

(A PDF of the full report is available here, the executive summary here and a fact sheet here.)

About The UConn Foundation

The University of Connecticut Foundation, Inc.’s mission is to solicit, receive, and administer gifts and

financial resources from private sources for the benefit of all campuses and programs of the University

of Connecticut. The Foundation operates exclusively to promote the educational, scientific, cultural, and

recreational objectives of the University. For more information, please visit the foundation’s website.

Photo from Home page of the UConn Foundation website