WARF grants university $99 million for 2016-'17 school year
The Wisconsin Alumni Research Foundation has announced a $99 million gift to UW-Madison and its affiliated organizations to support faculty recruitment and retention, as well as to further opportunities for students during the current school year.
WARF granted the school $85 million for the academic year, combined with approximately $14 million in funding for the Morgridge Institute for Research.
The gift includes $13.6 million dedicated to faculty recruitment and retention, offsetting in part the $23.6 million the university spent in the past year in hopes to hold onto more than 140 faculty members who were recruited by other universities.
It also includes $3.6 million for new research initiatives, as well as another $13 million for graduate student support.
"WARF's primary purpose is to promote, encourage and aid scientific investigation and research by UW-Madison's faculty, staff and students," said Erik Iverson, WARF’s managing director, in a Thursday press release. "Those investments benefit the UW-Madison and, by extension, are investments in our great state of Wisconsin. WARF's annual grant is one way we're proud to show our commitment."
UW-Madison Chancellor Rebecca Blank praised WARF’s investment in the university.
“Our ability to recruit and retain our world class faculty, one of the UW's greatest assets, was greatly enhanced by WARF's investment this year," Blank said in the release. "This is just one more demonstration of how WARF's support facilitates the margin of excellence at the University of Wisconsin-Madison."
UPDATE Oct. 28 11:08 a.m.: An earlier version of this article stated the Morgridge Center for Public Service received $14 million in funding. That is incorrect, as the Morgridge Institute for Research received that funding.Subscribe to The Daily Cardinal Newsletter