Athletics Campaign Timetable & Goals
July 1, 2006 - June 30, 2010
A private support goal of $30 million has been set for capital projects. Capital funds raised will expedite and enhance capital projects initiated with a bond issuance. This multi-million dollar investment in IU's athletic facilities will enable us to significantly impact all 24 varsity programs and to address many of our critical facility needs.
A goal of $25 million has been established for endowment support during the campaign. Endowment support is critical to the financial well-being of the athletic department as the income provides a perpetual source of funds to help cover scholarship costs annually. We have a unique and limited opportunity to secure matching income funds on qualified endowment gifts through the Matching the Promise campaign and plan to strategically take full advantage of this opportunity. Endowment gifts and the matching income funds help us defray our annual scholarship costs, accounting for approximately 1/3 of the scholarship bill.
ON-GOING ANNUAL SUPPORT
A goal of $25 million has been set for on-going annual support during the campaign. On-going annual support is critical for IU Athletics to meet its yearly scholarship obligations which include tuition & fees, room & board, books, and training table.
To solely focus on major facility and endowment gifts at the expense of our annual giving program would weaken IU Athletics overall. Scholarship costs and tuition continue to rise drastically and with 75% of our student-athletes coming from out of state, we must maintain a steadfast approach to covering scholarship costs.
The Varsity Club's annual giving program is stronger than ever and has raised more than $7 million each year since 2006. The Varsity Club looks to continue this upward trend and to build upon its loyal base of over 6,500 annual donors.
WHERE WE STAND TO DATE
As of June 30, 2010, the Varsity Club is pleased to announce we have received over $94 million in cash or pledges since the inception of our campaign.
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