Millions in endowments
The University of Cincinnati's endowment grows with each gift and fluctuates with the markets, but the latest total is $899 million. That's down from more than $1 billion before the markets tumbled. UC's endowment is ranked 40th in the U.S., 10th among public institutions and leads all universities in Ohio in terms of endowment dollars per student. Endowments are given for specific projects and are unavailable for general day-to-day university operations.
Ten gifts worth $200 million
$100 million facility from Aventis Pharmaceuticals for the Genome Research Institute, '01
$62.5 million from the French Family Trust for medical research, '02
$10.2 million from Richard Lindner for Varsity Village, '03
$10 million from Fifth Third Bank for Varsity Village, '03
$5 million from Oliver Waddell for a multiple sclerosis center, '01
$3.8 million from the A.B. Dolly and Ralph Cohen Foundation to CCM, '03
$3 million from sisters Priscilla Garrison Haffner, Martha Garrison Anness and Sally Garrison Skidmore for Varsity Village, '03
$1.5 million from John Hermanies for Varsity Village, '03
$1 million from the trust of Helen Smith for Varsity Village, '03
$1 million from Anne and James Bever for UC's Neurosciences Institute, '03
Research tops $300 million
UC earned $309 million in grants and contracts in fiscal year 2003, up $48 million over the previous year. UC ranks 46th among all U.S. colleges and universities in federal research and development expenditures and 25th among public institutions. (More specifics about research.)
The projected 2003-04 University of Cincinnati budget is $802 million. Where does all that money come from? It comes from five major sources:
- 26 percent ($214 million) from net tuition and fees
- 26 percent ($207 million) from research grants and contracts
- 23 percent ($182 million) from the state of Ohio
- 7 percent ($134 million) from other areas such as private gifts and endowment income
- 8 percent ($65 million) from auxiliary enterprises such as housing, food services, parking and athletics
- Intercollegiate athletics represents about $15 million of the total university budget, less than 2 percent.
- The operation and maintenance of the university (utilities, repairs, custodial and grounds services, etc.) will cost about $46 million over the next year, about 6 percent of the budget.
- UC’s instructional program will cost $246 million, 31 percent of the budget.
UC is the largest employer in the Cincinnati region, with an economic impact of more than $3 billion.