IU Varsity Club breaks fundraising record for student-athlete scholarships
FOR IMMEDIATE RELEASE
BLOOMINGTON, Ind. -- The IU Varsity Club has announced that its donors have set a new record for giving to IU Athletics. For the third year in a row, the Varsity Club has increased the total raised during its annual giving campaign for student-athlete scholarships.
With $11.9 million in contributions received during the 2012-13 fiscal year ending June 30, 2013, Varsity Club donors exceeded last year's annual giving record by over $2.8 million (31.4 percent). June 2013 was the single largest month of giving in the Varsity Club's annual giving history with $3.69 million.
"Breaking this fundraising record for the third straight year is an incredible accomplishment and speaks volumes about the love that Hoosiers have for IU Athletics," said Fred Glass, Indiana University vice president and director of intercollegiate athletics.
"I want to thank the Varsity Club staff, its dedicated board of directors and, most importantly, our loyal and generous donors. Because these donors pay for the educations of all of our scholarship athletes, our great year of student-athlete accomplishments would literally not have been possible without their support. "
Funds donated by the Varsity Club's more than 6,500 annual giving donors support student-athlete scholarships in all of IU's 24 varsity sports. Donors to this fund are eligible for a number of benefits, including discounted and reserved parking, priority points for preferred seating at football and basketball games and invitations to special events.
Over 70 percent of IU's 560 varsity student-athletes receive scholarship assistance each year. Over 30 percent receive full scholarships; 40 percent receive partial scholarship support.
IU's student-athlete scholarship program will require more than $13 million this year. Student-athlete scholarships are funded through the Varsity Club's annual giving campaign with the difference in cost supplemented through earnings from the IU Glaubinger Athletic Endowment Fund and the IU Foundation's Matching the Promise campaign.
"IU Athletics pays full in-state and out-of-state tuition, fees, books, and room and board on behalf of student-athletes on scholarship without any discount or other financial support from the campus, student fees or taxpayers," Glass said. "Especially as education costs continue to rise, it's vital to have the support of the Varsity Club to support student-athletes at IU and impact team success."
"I would also like to congratulate the Varsity Club's staff and volunteer board for their tireless efforts to achieve this goal once again," added Varsity Club National Board of Directors President Greg Fox. "By ensuring the scholarship program is funded each year, this small group of dedicated individuals proves just how committed they are to ensuring the success of IU Athletics. It's an honor to be among this group of Hoosiers."
About IU Varsity Club
Established in 1954, the Varsity Club serves as the development arm of IU Athletics. Through its fundraising efforts, the Varsity Club enables 560 student-athletes in 24 varsity sports to receive quality academic and athletic experiences at Indiana University. Varsity Club donors support student-athletes in IU's 24 varsity sports through contributions for scholarships, facility projects, renovations and improvements.
Varsity Club donors represent loyal and passionate Hoosier alumni, friends and fans. Their devotion to preserving and enhancing the rich tradition of IU Athletics makes a direct impact on Hoosier success and is important to maintaining our tradition of excellence at IU. To learn more about the IU Varsity Club, contact firstname.lastname@example.org or 812-855-0866.