The University of Arkansas at Fayetteville announced Friday that it has reached 58 percent of its $108 million fundraising goal for the 2014 fiscal year.
The university reported that as of Dec. 31, it has received about $62.6 million in private donations. The school included planned gifts and pledges in its private award amount, university officials said in a statement.
These monies have been designated for academic and athletic purposes, such as "scholarships, diversity initiatives, construction and renovation projects, the Razorback Foundation and university libraries," according to the statement.
The 2014 fiscal year ends June 30.