A foundation, which helps support projects at the country's largest Catholic University, has become the latest victim of the recession with it suffering a huge drop in donations.According to files lodged with the Company Registration Office (CRO) in Dublin, the Mary Immaculate Foundation has seen a drop in donations from €2,309,952 in 2008 to €392,555 last year.
Speaking to the Limerick Leader newspaper Mary Immaculate College's director of advancement and Alumni Relations, Deirdre Carroll said that the foundation, which has charitable status, is now left limited in the support it will be able to offer the college, which has around 2,500 students and 300 staff.
She said, “The drop in donations is down to the deterioration in the global economy and that every charity has reported a fall in income.”
Foundation secretary John Coady said that it would do all it can to assist the college in the years ahead. He said that central to its plans was the completion of a 500- seater lecture theatre and to this end, the foundation is offering sponsorship at €250 a seat.
He said that 2008 had been an exceptional year for the foundation when it received a €2 million donation and that it is still actively seeking major entrepreneurs to donate to the college.
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