Annual Report

Indiana University Foundation
2023 Annual Report

Philanthropy is an expression of caring for humanity. This annual report chronicles the work of the Indiana University Foundation in helping connect expressions of that caring for humanity to the mission, needs, and priorities of Indiana University.

Our donors imagine a world where students can explore their full potential without the burden of how they will pay for college. They envision cures to illness. They believe in IU’s ability to help shape a world that is equitable, peaceful, and sustainable. They believe in the power of helping make life better for other people. They trust the IU Foundation to ensure that IU is a responsible steward of their investments. We are honored and inspired by their faith in IU and their expressions of love for humanity.

This annual report outlines the actions we are taking to sustain IU’s philanthropic legacy. In 2023, we have strengthened our development program to build collaboration and foster a community of excellence; we’ve made additional strides toward even greater diversity, equity, and inclusion; and we’ve made significant progress on our five-year strategic plan to build capacity to get more people informed, involved, and invested in IU. These are just a few highlights of the work outlined in the information that follows.

We are grateful for your interest in our work at the IU Foundation. Although much has been accomplished, much more remains to be done to sustain IU’s philanthropic legacy as we provide support, opportunity, and hope for all—today and for generations.

Ever true to IU,

J T. Forbes
IUF President and CEO

Louis Jordan
IUF Board Vice Chair

Fiscal Year 2023
Financial Highlights

In support of our mission to maximize private support for IU, the IU Foundation business model includes five key steps: Engage alumni and friends, Raise funds, Receive funds, Invest funds, and Utilize funds. The following data represent totals from July 1, 2022, through June 30, 2023.

Engage Alumni and Friends

The IU Foundation builds and stewards lifelong relationships with current and potential supporters through a wide variety of outreach opportunities.

Snapshot of engagement activities

A year-long calendar of print, digital, and social media communications, including Imagine magazine, an annual publication highlighting stories around IU
Emails, care calls, letters, videos, newsletters, reports, and online features to communicate gratitude to donors and share impact stories
Groundbreaking giving circles—such as Women’s Philanthropy at IU, the Black Philanthropy Circle, and the Queer Philanthropy Circle—which unite supporters with shared passions to enrich the IU experience and ensure that IU is a place for all students to thrive
Parent & Family Giving, an effort to engage IU parents in the life and mission of the university
IU Student Foundation, a student organization that shapes the philanthropic leaders of tomorrow, and the IUPUI Student Foundation’s Jagathon, a student-led event that raises money for Riley Children’s Hospital
Recognition societies, which honor generous donors for their commitment to and support of IU

Through these initiatives and more, we inspire current and potential supporters to connect their personal and philanthropic values with the mission of IU.

13,191
New donors

Raise Funds

Private support for IU comes from all over the world and includes giving from individuals as well as corporations, foundations, and other organizations. During fiscal year 2023, donors gave more than $339 million to IU. This total includes cash gifts, future pledge payments, and revocable and irrevocable planned gifts.

Giving snapshot

96,315

Total donors

$339.2M

Total value of gifts raised

157,799

Total number of gifts raised

$1–$31.2M

Range of gift value

$25

Median gift

Giving by location

In fiscal year 2023, most gifts to IU were made by Indiana residents, but donors from all 50 states and 50 countries around the world also gave significant support. This strong global showing is further indication that our mission resonates with donors no matter where they reside. Explore the maps below and discover the locations of our donors!

Not shown on map: donors from Washington, D.C. (230), U.S. Armed Forces locations (12), Guam (3), Puerto Rico (6), and unspecified (8).

Not shown on map: donors from Hong Kong (8) and unspecified locations (103).

Sources of giving

	Individuals	Percent
	Alumni	32.2%
	Friends	10.0%
	Organizations	Percent
	Foundations	32.1%
	Corporations	17.7%
	Other	8.1%

The variety of giving sources illustrates the broad appeal of IU as a place for philanthropic investment. From individuals to corporations, donors of all kinds recognized IU as a place to effect change in 2023.

See how one couple’s planned gift not only made a life-changing difference for students but also inspired others to give back.

New endowments

Endowed gifts leave legacies that bolster IU’s mission in perpetuity. By funding research, scholarships, graduate fellowships, faculty chairs, professorships, and other academic programs, endowments preserve IU’s commitment to providing a world-class education for generations to come.

159

Total new
endowments

116

Scholarships
& graduate
fellowships

Chairs &
professorships

Other
endowments

Planned giving by the numbers

Many donors support the causes that mean the most to them with a gift through their will or trust, or other type of future arrangement. These gifts, known as planned gifts, are usually, though not always, fulfilled after death. Although most planned gifts come from wills or living trusts, other options include life insurance, retirement assets, real estate, and securities. Planned gifts can provide a lasting legacy for IU while yielding certain financial and federal tax advantages for donors. Below are the planned giving results for 2023.

$76.2M
Total value of planned gifts documented

226
Total number of planned gifts documented

$1K–$6.0M
Range of gift value

$100,000
Median planned gift

$20.8M
Value of realized gifts

“Together, we are building a global reputation, while strengthening the state and communities we call home.”

— IU President Pamela Whitten

Receive Funds

Donors can choose to support IU in a number of ways beyond cash gifts. From planned gifts and pledges to real estate, securities, and more, donors select gift vehicles that suit their specific needs and goals.

Gifts received by type

	Type	Percent
	Planned Gifts and Pledges	32.0%
	Non Governmental Grants	31.2%
	Cash	23.8%
	Real and Personal Property	10.3%
	Securities	2.7%

Demonstrating our donors’ strong commitment to IU and long-term philanthropic goals, planned gifts and pledges accounted for more than 30% of total gifts received.

Scholarship recipient Sankalp Sharma explains why the impact of student support is so much bigger than in-the-moment assistance: “It makes you want to do more. It inspires you to have an even bigger impact on the community.”

Invest Funds

By taking a disciplined, consistent, and diversified approach to investing funds, the IU Foundation generates steady, long-term funding for the university’s people, places, and programs.

Endowment performance over time

The IU Foundation has built a broadly diversified portfolio with a strong equity bias, striking an optimal balance of providing long-term growth with acceptable levels of volatility. This chart illustrates the growth of an endowed scholarship from its initial funding of $100,000 in 1990, along with the cumulative value of earnings distributed to support scholarships. This endowed scholarship would have paid out just over $286,000 by 2023, while the corpus would have grown to more than $245,000.

Growth of an endowed scholarship

Pooled long-term investment growth

The pooled long-term investment portfolio holds more than $3.35 billion in assets. The current size of the portfolio reflects the combination of generous gifts and effective investment strategy. Both are sources of pride and crucial to our success in growing the asset base, which translates into increased support to IU students, faculty, and programs.

Investment performance

The IU Foundation’s investment performance has exceeded the long-term objective of maintaining purchasing power over time. Since its inception (1989), the portfolio has posted an average annual return of 8.9%, consistently surpassing internal goals and comparing favorably versus the performance of peer institutions.

Pooled long-term asset allocation

	Category	Percent
	Public Equity	36.5%
	Private Equity & Venture Capital	30.4%
	Real Assets	14.6%
	Absolute Return Strategies	12.8%
	Fixed Income & Cash	5.7%

Beyond the risk control benefits of proper diversification, asset allocation decisions are designed to emphasize the most attractive opportunities and to provide exposure to various investments that perform well in different economic environments.

Utilize Funds

Private support to Indiana University is directed as donors wish, benefitting students, faculty, research, facilities, and areas of critical need. But the story doesn’t end once funds are distributed; it continues in the innovations, student successes, and global impacts the gifts make possible.

You can see those impacts in the lives and work of our 770,000+ alumni; in top national rankings for music, public affairs, business, and more; and in the output of IU’s research and creative activities—from breakthrough treatments to innovative technology to life-altering art. The benefits of private support are truly profound.

Use of funds

	Category	Percent
	Student Scholarship and Financial Aid	33.5%
	Faculty Support and Research	29.2%
	Academic Program Support	26.2%
	Facilities, Operation, and Maintenance	11.1%

Funds utilized each year are made available from the earnings on donor-restricted endowments combined with donor annual giving. During fiscal year 2023, with nearly 90% of the funds made available directed to student, faculty, research, and academic support, it is clear that pursuing excellence in world-class education, research, and scholarship is the greatest priority for IU donors. In fact, 17 percent of enrolled IU students (15,063 out of 90,065) benefitted from scholarship support.

Our Heartfelt Thanks

Thank you for reviewing the IU Foundation’s annual report.

Philanthropy is defined as “generosity in all its forms,” aiming to improve lives through collaboration. For centuries, IU donors have been essential partners in improving the world through IU, trusting us with their generosity, and championing our campuses across the state of Indiana.

From students earning a life-changing education to researchers pursuing solutions to our world's greatest problems, incredible outcomes are achieved because our supporters make opportunities happen.

We couldn't be more grateful—and we look forward to what’s ahead!