The University of Tennessee Foundation Inc. reached a pinnacle fundraising mark in fiscal year 2024 as commitment totals surpassed $400 million for the first time in University of Tennessee System history. This surpasses the previous record of $397 million set in fiscal year 2018.
“We celebrate this milestone alongside the more than 86,000 alumni and friends who pledged their support for opportunity, growth and the future of higher education,” said UT Foundation President Kerry Witcher. “The philanthropic passion of our donors, coupled with the academic excellence throughout our campuses and institutes drives our mission forward and will impact students for generations to come.”
In fiscal year 2024, the UT Foundation raised $430,338,113. This collective total consists of $60 million raised at UT Chattanooga, $24 million at the UT Health Science Center, $332 million at UT Knoxville (which includes $18.9 million from the UT Institute of Agriculture), $6 million at UT Martin and $6 million at UT Southern.
“The UT Martin Division of University Advancement is proud to be part of the UT Foundation and the impactful work we do collaboratively,” said Jeanna Curtis-Swofford, UTM vice chancellor of advancement. “We are fortunate to work with Chancellor Freeman and other campus leaders whose support is imperative to our success.”
The totals include $55.8 million designated for student scholarships and record-breaking fundraising at UT Chattanooga, UT Southern and UT Knoxville.
The year is highlighted by a transformational gift at UT Chattanooga that, in conjunction with funding support from the Tennessee General Assembly, will renovate and expand Fletcher Hall, home to the Gary W. Rollins College of Business.
A gift of 600 acres, bequeathed by the late Dr. Bruce Wilson, marked the largest gift in UT Southern history, and UT Knoxville closed out the year with the naming of the Natalie L. Haslam College of Music, honoring one of the university’s most generous benefactors.
“I am incredibly proud of our dedicated team across the university, whose hard work and passion have driven us to this historic milestone,” said UT System President Randy Boyd. “I’m incredibly thankful to our alumni and donors for their unwavering belief in the future of UT. Their generosity and support are what make this achievement possible, and we are excited to continue building a brighter future together as we make this the greatest decade in the history of UT.”
The surge in fundraising was supported by 86,751 donors across the UT System. At the close of FY 2024, the UT System boasted 439,807 alumni, of which 67% have remained connected to the university through events, philanthropic initiatives and activities.
The Foundation’s mission is to raise financial and public support for the University of Tennessee. A nonprofit corporation, the Foundation helps meet the needs of the University by augmenting state and institutional funds, and enriching the lives of students, faculty, staff, alumni and friends.
The University of Tennessee System raises funds through the University of Tennessee Foundation, an independent nonprofit corporation that seeks to enrich the lives of UT students, faculty, staff, alumni and friends through alumni engagement, financial stewardship and private investments. The Foundation is the preferred channel for all private contributions benefiting faculty and students at the University of Tennessee System.
For more information about the UT Foundation, visit www.utfi.org.
