The Associated Press August 10, 2010, 8:18AM ET

Indiana University sees big private funding jump

Indiana University announced Monday that it has seen a 38 percent increase in private sector grants and contributions from a year ago, when such revenue declined during the recession.

The university said its $342.8 million in private sector support during its 2010 budget year was up from $247.6 million in 2009.

Giving USA, an annual report on giving researched by the Indiana University Center on Philanthropy, reported that contributions to higher education nationally declined by 3.6 percent in calendar year 2009.

"These generous gifts and grants are an expression of confidence in Indiana University," school President Michael McRobbie said in a statement. "The results are particularly gratifying in a period that is challenging for philanthropy."

The total includes gifts through the IU Foundation and Riley Hospital for Children's foundation and research grants from the private sector awarded to faculty members.

The largest single gifts and grants were $60 million from the Lilly Endowment to the IU School of Medicine for a project to speed up the translation of research into patient treatments, and $15 million for business school scholarships in a bequest from graduate William Fry.

Non-governmental grants to faculty members increased by 33 percent in the past year to $161.7 million, setting a school record for such grants.

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