UH Foundation fund raising
outpaces 2002
The University of Hawaii Foundation raised $13.4 million in the first six months of the fiscal year through December, foundation officials said.
The total is $1.9 million more than was raised during the same period in 2002.
Bill King, the foundation's chief financial officer, said the foundation is "right on target" to reach a goal of at least $30 million by June 30. He said historically the most money is raised in the last quarter of the fiscal year.
Donations from private foundations are at $4.8 million, which is above what was raised in the past fiscal year.
One of the biggest donations is from the Freeman Foundation, which has given more than $2 million to support exchange activities throughout Asia.
While most of the money raised has been from large donations, the number of people giving to the university is also higher than at the same time last year.
About 19,400 people have donated to the university compared with 17,400 in the same period last year.
The university's endowment fund has increased to $111.1 million, mostly because of an increase in the value of its investments, King said.
The endowment had $96.5 million at the end of the past fiscal year.
The university is also working on increasing revenue from the Internet. The foundation is testing e-mailed solicitations and is improving its Web site to make it easier to donate online.