# University foundation income doubles

- Link: https://fundraising.co.uk/2008/07/08/university-foundation-income-doubles/
- Published: 2008-07-08T10:32:42+01:00
- Author: Howard Lake

The University of Limerick (UL) Foundation received donations of more than €4.6 
million last year, more than double the figure of the previous year.

The foundation, which funds education and research programmes at the university,
had total income of €5 million in the year to the end of August last. Its expenditure
during the year was €3.3 million, leaving the foundation with a €1.7 million surplus
for the financial year.

A breakdown of expenditure last year shows that €2.5 million was spent on research
and development grants, €663,000 on administration and €156,000 on fundraising and
publicity.

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New accounts for the foundation detail a major turnaround from the previous year,
when it had total income of €2.7 million and expenditure of €5 million, leaving 
it with a €2.3 million deficit.

At the end of August last, the foundation had more than €8.4 million in cash on 
its balance sheet and net assets worth €12.1 million. It employed nine staff last
year and payroll costs came to €496,000. The foundation has raised more than €125
million since 1989.

www.ulf.ie

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