Maryland’s athletic department raised more than $8.6 million in unrestricted giving for the fiscal year of 2014, about $500,00 more than in 2013, the school announced on Wednesday.
The money was raised through the Terrapin Club Scholarship Fund and other unrestricted gifts to support student-athletes at the school, according to a statement. The school received about $18.6 million in capital, endowments, and other gifts in 2014, which included “restricted donations to sports programs, facility enhancement gifts, endowment giving, and all forms of private support.”
“Our donors to the University of Maryland continue to make a difference for our student-athletes,” said Maryland Athletic Director Kevin Anderson in a statement. “As we are experiencing an unprecedented time in our institution’s history, we must continue our progressive goal towards fully funding our student-athlete scholarships on an annual basis, which is currently over $10.6 million.”
The giving period ended June 30 for the department, which received just more than $8.1 million in donations last year. The school also announced that it enjoyed significant growth in private donations to Terrapin Club Scholarship Fund, particularly at the Directors Circle level of the fund, which saw a 64 percent increase.
The statement also outlined the importance of growth in the first year of membership in the Big Ten. Rutgers is in a similair position, and Athletic Director Julie Hermann said earlier this summer that the school is projecting about 30 percent in increased fundraising and also detailed plans to build new athletic facilities on campus, which could cost in the $60 to $80 million range.