Donations to Aalto University in 2023
Donors are a vital part of Aalto University community. Donations advance the purpose of the university and strengthen its long-term financial sustainability.
The role of Aalto University Endowment is to manage the received donations and safeguard the intergenerational equity of the university. The impact of the funding from the endowment to the university’s research and education is significant, currently covering about 9% of Aalto University’s total operating budget. The funding secures the continuation of high-quality education and research activities, counter-balancing the long-term erosion of the university’s public funding base.
During 2023, Aalto University Endowment received €5M (€11M) new donations, of which €2M (€3M) were capitalizing and €3M (€8M) expendable donations. Donations were directed to restricted funds. Of the donations, 74% were targeted to the field of technology, 24% to business,1% to art and design and 2% to the university in general. The total number of donors in 2023 was 397(532), marking a 25% decrease from the year 2022.
During 2023, Aalto University Endowment provided €37M (€35M) funding to the university operations. Spending from the general endowment fund was €29M (€27M), allocated to education and research activities based on the university internal funding model. As an example, this amount would cover the salary costs of 190 professors per year. Spending from the restricted funds was €6M (€6M), the most significant funding being directed to professorships and professorships of practice, development of the Schools of Technology as well as the Bioinnovation Center.
At the end of 2023, the value of the endowment assets was €1382M (€1312M), of which assets in endowment portfolio were €1364M (€1293M) and cash assets were €19M (€19M).
The value of the general endowment fund, providing funding for the long-term development of the university, was €1277M (€1208M). It consisted of donations of €200M (€200M), capitalization received from the Finnish government of €532M (€532M), and €544M (€475M) of accumulated return, including accumulated university inflation of €241M and accumulated real return of €303M.
The restricted funds, providing funding for both the current and long-term development needs of a single study field or school, were €81M (€80M) at the end of 2023. Of them, €19M (€20M) were expendable, €62M (€60M) capitalizing and hybrid funds.
*Figures in parentheses refer to year 2022.
Additional information can be found in the PDF version of the review
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