Indiana University generates record amount of funds

BLOOMINGTON, Ind. (AP) – Indiana University has brought in more money during the previous fiscal year than ever before – nearly $944 million.

The money accounts for research funding and private philanthropy dollars, The Herald-Times reported. This year’s amount is an increase from nearly $767 million in fiscal year 2015.

The largest chunk of that total is from about $614 million in external funding for research and other activities, a 14-percent increase from the previous fiscal year.

“Research budgets aren’t going up around the country,” said Fred Cate, vice president for research at IU. “It really suggests we’re getting a bigger piece of that federal pie in terms of that research funding. That’s especially good news for Hoosiers, because we’re bringing in federal dollars.”

That means having more money to hire people in the short term. But the dollars could also lead to improvements in everything from information technology to health care.

“We have to keep making the point that the impact of research directly affects their lives,” IU President Michael McRobbie said, referring to Indiana residents.

McRobbie said the school’s research funding total is more than all other public universities in the state. He didn’t know how the university’s total compared with other Big Ten institutions.

“They sort of drift in,” he said. “Historically, we’ve been around the middle and moving up, but there’s no reporting deadline for these numbers.”

The university brought in more than $329 million in philanthropic gifts, compared to about $226 million the previous fiscal year.

IU Foundation president Dan Smith says the increase is largely due to two factors, including the enthusiasm surrounding new programs and schools.

“The second thing is, I think that we are fortunate to have a lot of friends and alumni who care a great deal about Indiana University and feel very positive about it right now,” he said.