August 12, 2005
FOR IMMEDIATE RELEASE
Community support of MUSC reaches new high
CHARLESTON, S.C. (August 12, 2005) - Philanthropic support of the Medical University of South Carolina jumped 39 percent during fiscal 2005, with the university reporting a record $48.1 million in gifts, pledges and matching funds collected between June 30, 2004 and July 1, 2005.
Fund-raising growth at the Medical University far outpaced the national growth rate. Nationally, charitable giving rose 5 percent to $248.52 billion during calendar 2004, a record for philanthropic giving in the United States, according to a report released in June by the American Association of Fundraising Counsel.
The Medical University received a total of 18,671 gifts during the year, provided by 11,072 donors, almost 20 percent more donors than the previous year. Broken down by dollar amount, the largest portion of these gifts - over $19 million - came from individual donors, a broad mix of former patients, alumni, staff and other supporters. The year's largest single gift - conservatively valued at $5.4 million - came from one such individual, a South Carolina businessman and entrepreneur.
Meanwhile, gifts and matching funds from foundations and nonprofit organizations exceeded $20.4 million, and corporate contributions totaled almost $8.2 million.
University President Dr. Ray Greenberg said the growth in philanthropic support had come at a particularly advantageous time for the Medical University, which is the state's largest academic medical center.
"Over the past few years, the Medical University has enjoyed several unique opportunities to strengthen its academic, patient care and research environment. In many cases, private gifts allowed us to leverage these opportunities into tangible results that will have far-reaching benefits for citizens throughout the entire state," said Greenberg. He cited the new Charles P. Darby Children's Research Institute, the Hollings Cancer Center expansion and five recently established Research Centers of Economic Excellence as examples of projects that were funded in large part by philanthropic dollars.
"We are extremely grateful to the people who have helped make these and so many other projects possible," said Greenberg.
Greenberg added that philanthropy would continue to play an important role in the university's plans for the future, which include the development of a new medical center, a new College of Health Professions complex, a new dental education facility and two recently approved Research Centers for Economic Excellence. To help pay for these and other projects, the Medical University is preparing to launch its first campus-wide capital fund-raising campaign in nearly 20 years.
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