“The future of the University of Akron is looking bright. Following a record setting fiscal year of fundraising during 2006-2007, new reports show that this trend of increasing donations will continue. In a new report released by the university, donations to UA from July 2007 through Nov.”
“

The future of the University of Akron is looking bright. Following a record setting fiscal year of fundraising during 2006-2007, new reports show that this trend of increasing donations will continue.

In a new report released by the university, donations to UA from July 2007 through Nov. 2007 totaled 21.5 million, which is 76 percent more than the 12.2 million that was received throughout the same period in 2006.

Upon the closing of this fiscal year’s first half, UA has set another record with the highest ever funds raised in half a year. According to UA reports, $26.4 million has been raised so far this year.

Virtually 99 percent of all private donations are ‘restricted’ for specific purposes, President Luis Proenza said.

Most often, the specific purpose is to provide funding for scholarships. Money is set aside for use within specific programs or to make campus improvements such as the construction of the football stadium.

Private donations are vital components to all aspects of a university. Although UA receives its funds from many sources, Proenza stresses that only a small fraction of the total fund is from the state.

So what exactly does the increase in funds mean for the University of Akron?

Proenza comments that it will greatly benefit the university, resulting in increased margins of excellence and increased scholarship opportunities.

“