# Cork University Foundation income plummets

- Link: https://fundraising.co.uk/2014/10/16/cork-university-foundation-income-plummets/
- Published: 2014-10-16T08:46:17+01:00
- Author: Howard Lake

One of Ireland’s major university foundations experienced a big drop in fundraising
income last year, according to its annual accounts.

[Cork University Foundation](http://www.ucc.ie/en/alumni/cuf/) saw its income fall
from €2.5 million in 2012 to €1.3 million in 2013. The fall in income led to the
Foundation posting a deficit of €1.5 million last year compared to a surplus of 
€94,000 in 2012.

The Foundation has played an important part in the past in the funding mix for many
of the university’s capital programmes such as a €44 million sciences campus, a 
€22 million pharmacy school and a €13 million environmental research institute.

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Many of these developments were in the mid 2000’s and there does not appear to have
many major projects in recent years.

The accounts do not provide details of how the Foundation raises its money but it
appears most income is derived from fundraising in Ireland and local companies have
been supportive. In 2012 the Foundation received a grant of €216,000 from Atlantic
Philanthropies.

No information is provided on Foundation expenses, with the university absorbing
the operational costs of the Foundation.

 

_Photo: [Luis Santos](http://www.shutterstock.com/gallery-331438p1.html?cr=00&pl=edit-00)/
[Shutterstock.com](http://www.shutterstock.com/editorial?cr=00&pl=edit-00)_

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