July 30, 2008

University breaks all fund-raising records with $106.2 million in private giving

The University of South Carolina has shattered all fund-raising records, bringing in $106.2 million in private gifts and pledges for the year ending June 30, thanks to an unprecedented number of donors and an increase in the size of the gifts.

The 2007-08 amount is 58.7 percent above last year’s total of $66.9 million and eclipses the record of $96.5 million in 1997-98. The number of donors stands at an all-time high that is nearly 46,000.

Andrew Sorensen, who is retiring as university president July 31, said the figure reflects recognition that the university is an investment in the future of the state and young people.

“In a year of economic challenges nationally and declining state and federal support for higher education, our alumni, parents, friends, faculty and staff have stepped up giving because they see the University of South Carolina as one of the greatest investments they can make in the future of our young people and our state,” Sorensen said. “They know that, by supporting higher education, they’re providing more access to a world-class education, more research discovery that improves lives and more job creation and innovation for the state and region.”

Donors have designated the $106.2 million in these ways: $32.6 million for student support, including scholarships, assistantships and fellowships; $4.5 million for faculty support, including endowed professorships and chairs; $44.8 million for program enhancements, including research and outreach; $16.5 million for capital projects; and $7.8 million in unrestricted gifts.

The record amount includes an increase in online gifts and $31.1 million in alumni giving, nearly $10 million more than last year. Eighteen gifts totaled $1 million or more, compared with eight the previous year.

The spike in giving indicates the unprecedented level of support for, and commitment to, the university and its mission, Michelle Dodenhoff, associate vice president for university development and interim vice president for University Advancement, said.

“It has been an incredibly exciting year for fundraising,” Dodenhoff said. “These gifts represent a very significant passion to make a difference in the lives of young people and in the university’s work. I think that it has a lot to do with the level of excitement that people are feeling about our phenomenal deans, our outstanding faculty and some of the brightest students this campus has ever seen.”

Dodenhoff said 2007-08’s record-setting gifts have the potential for being “transformative” in scope.

“Those who gave realize the university’s growing stature and continued promise for a knowledge economy that depends on research, collaboration and innovation,” she said.

Among the highlights:

A $10-million increase in the endowment for the university’s nationally recognized McNair Scholars Program by the Robert and Janice McNair Foundation. Established by alumnus Robert McNair and his wife, Janice, with a $20-million gift in 1998, the program draws some of the nation’s top undergraduate students to South Carolina.

A $5-million bequest from alumnus Charlton F. Hall Jr. to the university School of Medicine’s Senior SMART Program, a Research Center of Economic Excellence that will focus on research and development of new products and services to keep older adults healthy and independent.

$13 million in gifts to the Upstate campus, a portion of which will help fund construction of a business school building in downtown Spartanburg that will be named for donor and law school alumnus George Dean Johnson Jr.

Dodenhoff said the numbers must be tempered with the reality of an economic downturn.

“The sour economy is pinching many people and forcing others to be cautious,” Dodenhoff said. “Nevertheless, we have renewed our fundraising efforts for 2008-09, and I am confident that our fundraising team will work as hard as ever to build on the momentum created at the university.

“After all, we have an inspiring message to share from the University of South Carolina.”