Iowa State University announced late Wednesday that external funding at the university increased by 12.9 percent in the fiscal year ended June 30.

External funding increased to $368.4 million in the fiscal year, up from $326.4 million the previous year. The $368.4 million total was the second highest in university history.

External funding comes from grants, contracts, gifts and cooperative agreements from federal, state and local governments, as well as from corporations, foundations and other universities.

The U.S. Department of Energy provided the largest source of federal funding for the year, $59.7 million, and the U.S. Department of Agriculture, at $31.6 million, ranked No. 2. The university also received $67.8 million from nonprofit organizations.

Funding supports Iowa State researchers, students, education programs, equipment purchases, buildings and extension activities. External funding supplements state appropriations, which support daily operations of the university.

The university said the increase in 2014 continues an upward trend, which was interrupted by higher-than-normal funding levels in fiscal year 2010 due to the federal stimulus and lower-than-normal funding levels last year due to the sequestration.

To see more information on the funding, click here.