An increase in university revenue was announced at the board of trustees meeting on Friday, Jan. 25.  

UNC Wilmington’s net assets increased $35.7 million in 2012 compared to the $19.9 million increase in 2011, according to Rick Whitfield, the associate vice chancellor of business affairs. Whitfield presented data on key revenue sources and expenses during 2012 and provided an overview of changes in the university’s long-term debt.

University revenue is made up of tuition and fees; federal and state grants; nongovernmental grants, gifts, contracts sales and services as well as interest earning on loans.

UNCW’s endowment was valued at $65.9 million in June 2012, reflecting an increase of $3.1 million since 2011. An endowment is a transfer of money or property donated to an institution.

Also announced at the meeting were some changes to athletics.

The board allocated $2.2 million for student athlete scholarships for the 2013-14 school year. Scholarship money comes from the endowment fund. Athletics has also hired a new gift officer to coordinate with the advancement committee to raise more funds.

“Seahawk nation needs to step up,” said Gary Shipman from the Educational Planning and Programs Committee. “The community needs to support our athletic department. Who’s going to write the checks? Student athletes need scholarship and support.”

The board of trustees also attempted to quantify UNCW’s community service involvement in the Wilmington community at the meeting.

Nearly half of UNCW’s 13,000 students and 259 faculties provided some time of community service last year, the board announced. The economic impact of this achievement is worth close to $2 million in revenue.