University of Alabama tops fundraising record
TUSCALOOSA, Ala. (AP) — The University of Alabama says it has had its best year ever for fundraising.
A statement from the university says it took in more than $120 million in gifts and pledges during the 2016-2017 fiscal year. That surpasses the previous record of more than $116 million in 2012.
The school says money this year came in from more than 58,000 donors. The university received 14 gifts that exceeded $1 million.
A university breakdown says donors gave almost $25 million to fund endowed scholarships and $20 million in endowed gifts for programs.
Another $18 million went to help fund construction and facility maintenance, and $4 million was in endowed gifts to support faculty.
Alabama and other public universities are relying more on private fundraising as state funding for higher education decreases.