grants, and alumni contributions. In 2014, the institute's revenue amounted to about $1.422 billion. Fifteen percent came from state appropriations and grants while 20% originated from tuition and fees. Grants and contracts accounted for 55% of all revenue. Expenditures were about $1.36 billion. Forty-eight percent went to research and 19% went to instruction. The Georgia Tech Foundation runs the university's endowment and was incorporated in 1932. It includes several wholly owned subsidiaries that own land on campus or in Midtown and lease the land back to the Georgia Board of Regents and other companies and organizations. Assets totaled $1.882 billion and liabilities totaled $0.478 billion in 2014. As of 2007, Georgia Tech had the most generous alumni donor base, percentage wise, of any public university ranked in the top 50. In 2015, the university received a $30 million grant from Atlanta philanthropist Diana Blank to build the "most environmentally-sound building ever constructed in the Southeast."
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