Cornell’s annual funds harness the collective power of tens of thousands of donors to offer the university support for its most pressing needs. Annual funds are current-use and unrestricted, allowing leadership the freedom to determine how to use their dollars to create the greatest immediate impact.

What is an annual fund gift?

Annual fund gifts are unrestricted dollars directed to the university in general, or to a school, college, or unit. They offer the provost, along with respective deans and directors, the flexibility to be strategic in putting money to use where it will have the most impact. Leadership can then respond nimbly to unexpected needs and emerging opportunities. Annual fund gifts are not restricted to a specific purpose. For example, a gift to the baseball team or the English department is not counted as annual fund support.

Doesn’t tuition and the endowment cover all of Cornell’s needs?

Cornell’s endowment per-student is the lowest among our Ivy League peers. The collective income from tuition, endowment proceeds, and state funding fall short of the university’s yearly needs. Tuition and fees make up just 25% of the university’s operating budget. The gap between a dean or director’s budget line and the college or unit’s actual need—that margin of excellence—is covered each year by annual fund gifts.

How does the endowment work?

An endowment is a collection of invested capital. Endowed gifts make up a part of the endowment. These gifts can only be used for purposes designated by the donor. Cornell cannot withdraw funds from its endowment. Each year, the endowment distributes roughly 5% of earnings to support the university’s operating budget.

How do annual fund dollars compare to endowment dollars?

Annual fund dollars have roughly twenty times the spending power of an endowed gift. Assuming a 5% return on endowment, raising $50 million in annual fund support is equivalent to the payout of a $1 billion endowment. In FY23 the university raised $55.7 million, in annual fund support.

What are some specific examples of how annual funds are used?

You may reference the Annual Fund Usages Guide for specific examples of how each college and unit has used their annual fund in the past, as well as their plans for future use. In general, annual fund gifts are typically directed to these campus-wide priorities:

• Affordability
• Sustainability
• Innovation
• Student experiential learning
• Research
• Diversity, equity, inclusion, and belonging (DEIB)

How do the Annual Funds fit into Cornell’s To Do the Greatest Good Campaign?

Cornell is in the midst of a $5 billion-dollar campaign. As part of its overall objectives, we have a goal of bringing in $400 million for the annual funds over the life of the campaign and to grow the annual funds to a sustainable rate of $65 million annually.

How many annual funds are there?

There are currently 25 different annual funds.

General University Annual Funds:

• Cornell University
• Undergraduate Scholarship

Undergraduate and Graduate Units with Annual Funds:

• College of Agriculture and Life Sciences
• College of Architecture, Art, and Planning
• College of Arts and Sciences
• College of Engineering
• College of Human Ecology
• College of Veterinary Medicine
• Cornell Ann S. Bowers College of Computing and Information Science
• Cornell Jeb E. Brooks School of Public Policy
• Cornell Law School
• Cornell SC Johnson College of Business
• Charles H. Dyson School of Applied Economics and Management
• Cornell Peter and Stephanie Nolan School of Hotel Administration
• Samuel Curtis Johnson Graduate School of Management
• Cornell Tech
• The Graduate School
• School of Industrial and Labor Relations

Annual Funds for Campus and Student Support:

• Cornell Athletics and Physical Education
• Cornell Atkinson Center for Sustainability
• Cornell Botanic Gardens
• Cornell Lab of Ornithology
• Cornell University Library
• Herbert F. Johnson Museum of Art
• Student & Campus Life