KNOXVILLE – The University of Tennessee Foundation Board of Directors held its fall meeting on Friday, November 8 in Knoxville. This was the first meeting of the Board during fiscal year 2025.
The UT Foundation posted a record-breaking fiscal year, raising over $430 million across the campuses and institutes in the UT System. Exceeding in their mission, these dollars serve to open doors and create opportunities for students and faculty and enhance campus operations and infrastructure across the state.
“The incredible generosity of our alumni and donors is a reflection of the positive and often life-changing experiences they have had through our statewide institution,” said UT Foundation President Kerry Witcher.
Maintaining alignment with making this the greatest decade in UT history, the Foundation is just over halfway to a $3 billion fundraising goal between 2020-2029. The record was previously set at $2.2 billion between 2010-2019.
Staffing within the Foundation has grown over the last decade by 26%, but in turn, Witcher shared that the Foundation has continued decreasing their dependency on university support from 72% to 43% since fiscal year 2014. In addition, the Foundation has increased their return on investment, now raising $8.15 for every one dollar invested.
As the Foundation moves into fiscal year 2025, goals remain a priority, as well as a strategic planning process that recently launched.
Recently approved by the University of Tennessee Board of Trustees, the Foundation Board of Directors reviewed and approved the restated affiliation agreement between UT and UTFI.
Audit and Finance committee Chair Karen Bowling presented the final fiscal year 2025 budget, which was approved by the Board of Directors. The draft budget was presented and approved during the June 2024 meeting. The Board of Directors also approved a withdrawal request from the strategic discretionary reserves to fund a feasibility study at UT Knoxville. The request aligns with the purpose of the reserves to fund campus advancement initiatives as the study will determine campaign feasibility and prepare internal stakeholders.
Nominating and Governance Committee Chair Emily Love presented revisions to UTFI Bylaws, which were approved by the Board. The revisions changed language in Article V and Article VI to reflect current practice.
The Board welcomed new members Misty D. Mayes and Brian Winbigler, as well as UT Southern Chancellor Linda Martin and UT Board of Trustee David Watson.
The next meeting of the UTFI Board of Directors is June 12-13, 2025, in Knoxville.