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The first five months of fiscal year 2008 reflect a sharp increase in both the number of donors making gifts and pledges to the University and in the total of their gifts in comparison with the same period last year.
From July 1 through Nov. 30, Carolina received $35.8 million in gifts and pledges from slightly more than 20,000 donors. That compares with about $16 million from 11,650 donors during July through November 2006. The University's fiscal year begins July 1 and ends June 30 of the following calendar year.
As of Nov. 30, Carolina had achieved nearly 50 percent of its June 30, 2008 goal of $75 million in private support. Last year's goal was $50 million with $66.9 million received. Gifts to the University will support academic programs, student scholarships, building projects, and other educational needs.
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| Miles Loadholt |
"A 123 percent increase in gifts and a 72 percent increase in the number of donors is a sign of very healthy support for the University and its momentum," said Miles Loadholt, vice chairman of the University's Board of Trustees and chair of the Ad Hoc Committee on Advancement. "We're hesitant to project this kind of growth through the end of the fiscal year, but the numbers thus far do point to a very good year in private support for Carolina."
About 25 percent of the $35.8 million received through Nov. 30 is designated for student support, primarily student scholarships. A similar percentage was given for capital projects, nearly $4 million in donations were unrestricted, and more than $500,000 for professorships.
One of the largest single projects for which private support was raised so far this year is the new business school for University of South Carolina Upstate, which will be built in downtown Spartanburg. More than $10 million in private contributions, including $2 million to endow the college, was raised in fewer than 30 days by the University.
The business college has been named the George Dean Johnson Jr. College of Business and Economics in honor of the Spartanburg native and chairman of Johnson Development Associates Inc.
"This is an outstanding example of public-private partnerships and what can be done when University, business, and community leaders unite behind a common goal," said University President Andrew A. Sorensen. "This building, and more importantly the students who earn business degrees from our Upstate campus, will be a driving force not only in the economy of the Upstate, but also of South Carolina."
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