In fiscal year (FY) 2022, the University of Alabama (UA) received $211.4 million in sponsored awards, $159.5 million of which were from the federal government.
A sponsored award, as opposed to a gift, is funding from an external individual or organization for a specified use. Sponsored awards are given with the expectation that the outcome will benefit the giver.
This is the ninth-straight fiscal year in which UA has broken records for the dollar amount of sponsored awards received.
These awards include competitive external funding for research, instruction, fellowships, construction and other sponsored activity.
A record 522 of the 840 total awards to UA came from the federal government, according to UA communications specialist Adam Jones. This is a 52.1% increase from 2021.
“Sponsored projects improve instruction and elevate the learning experience of our students while serving society through the discovery of novel solutions to our most challenging problems, which in turn creates a more knowledgeable and skilled workforce,” said UA president Stuart R. Bell.
According to media reports, UA also broke fundraising records with $226 million received in gifts and pledges in FY 2022. This included contributions from almost 60,000 donors.
UA also recently received almost $55 million from the American Rescue Plan Act COVID relief funds.
UA’s endowment is more than $1 billion.
UA’s latest annual financial report for 2020 to 2021 measured the university’s total assets at over $5 billion.
In 2021, it brought in almost $482 million just from tuition, over $190 million from the State of Alabama, and over $75 million in federal grants and contracts.
According to UA’s Division of Finance and Operations, the university’s expenditures totaled over $929.5 million in all categories combined from September 2021 to September 2022. This is an increase of approximately $26.7 million from the previous fiscal year.
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