The University has raised $95.3 million in private gifts and pledges for 2004–05, exceeding last year's amount by $30 million, or nearly 48 percent. The 2003-04 figure was $64.7 million.
The monies will be used to create scholarships, hire and support new faculty, enhance the libraries and academic programs, strengthen regional campuses, and improve campus facilities.
President Sorensen told the University's Board of Trustees Aug. 5 that he was buoyed by the significant jump in numbers because it indicates a broader, deeper base of support for the University.
"I am delighted by these numbers," Sorensen said. "They clearly show that we are expanding and deepening our support at a critical time in the University's history. As we increase the size of our faculty, build our research campus, and expand scholarships and programs to enhance the student experience here at Carolina, we find it gratifying to see that our efforts not only are being recognized but also are being supported by friends, alumni, foundations, and the corporate sector."
Year-end figures through June 30 show a 10 percent increase in donors, for a total of 26,255; a 14 percent hike in alumni giving, to 15,241; and a 29 percent jump in gifts and pledges of $1,000,000 or more.
The news follows the University's recent announcement that its internal giving campaign, the Family Fund, raised a record $2,336,298, increasing its support by 500 donors and nearly $50,000 over last year.
Hudson Akin, vice president for university advancement, said the gifts represent a sizable investment and confidence in the University on the part of friends, alumni, staff, and faculty.
"The gifts and pledges clearly show that confidence in the University of South Carolina is strong," Akin said. "Because we are the flagship university with students, research, and outreach programs that impact the entire state, a gift to the University of South Carolina is one of the best investments a South Carolinian can make."
Akin said he was particularly pleased with alumni giving, which totals 25 percent, because the increase comes at a time when, nationwide, alumni giving is down. Among public universities in the Southeastern Conference, Akin said, USC leads in alumni giving.
Support for academic program enhancements totaled $33.8 million. Gifts for faculty development, including chairs and professorships, totaled $3.2 million. Support for scholarships and fellowships was $9.8 million. And contributions to the Gamecock Club were $14.6 million. Corporate giving totaled $16.5 million, and foundation support was $8.2 million.
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