ICR Expenditures in FY2024

The following table summarizes how IU Research (IUR) spent the retained Central Indirect Cost Recovery (ICR) Allocation Formula funds in FY2024 and how it has committed ICR funds for FY2025.

• As summarized in the table, IUR received $12.91 million in retained ICR funds in FY2024.
• For FY2025, although IUR projects to receive $21.50 million in ICR Funds, it has committed to about $31.01 million in investments. The additional funds will come from cash reserves from prior retained ICR. After FY2025, IUR cash reserves will be almost entirely depleted.
• The significant reduction in Mission Critical Infrastructure investment (both for Programs and Personnel) from about $7.0 million in FY2024 to about $2.6 million in FY2025 is the result of approximately 33% of all central IUR employees previously funded by ICR funds in FY2024 transitioning to base funding in FY2025 in accordance with our new budget model. These figures exclude CIMS employees.
• The $3.0 million committed for research renovations in FY2025 is IUR’s payment of debt associated with the $45 million bond repayment for the Faculty 100 initiative.
• The increased investment in IUR cores and CIMS from about $2.0 million to about $11.7 million is the result of several CIMS transitioning to be 100% under IUR, and the creation of new CIMS, including but not limited to: Convergent Bioscience and Technology Institute (CBATI), Institute for Human Health and Wellbeing (H2W),  IU Center for Reliable and Trusted Electronics (IU CREATE), IU Nanoscience Core Facility (NCF). A full list of centrally administered CIMS can be found here.
• The increased investment in Big Initiatives from approximately $1.11 million in FY2024 to $8.27 million in FY2025 is due to several new investments relating to the IU 2030 Strategic Plan, including: Clinical and Translational Sciences Institute, Presidential A&H Fellowship Program, Public Arts & Humanities Program, Spirit & Place, Applied Research Center, among others.
• Lastly, and importantly, the ICR totals do not include other investments made by IUR using non-ICR funds. Specifically, in FY2024 IUR invested an additional $4.57 million in Internal Funding Programs and CIMS using non-ICR funds. In FY2025, IU Research committed an additional $6.00 million in its redesigned Internal Funding Programs using non-ICR funds. In total, IUR committed nearly $37 million to support and grow research and creative activity in FY2025.