July 24, 2009
FOR IMMEDIATE RELEASE
MUSC receives $71 million in donations during 2009 fiscal year
Giving set new record, bucks national trends
Charleston, S.C. – Donations to the Medical University of South Carolina (MUSC) grew to $70.9 million in gifts and pledges during fiscal 2009, defying national trends and setting a new record in philanthropic giving to the university.
The 5.2 percent increase in giving to MUSC took place during a year when overall giving to nonprofits nationwide declined 2 percent and giving to education fell 5.5 percent, according to a report published by the Giving USA Foundation. The national figure was the first decline in giving in current dollars since 1987 and the second since the Giving USA Foundation began publishing annual reports in 1956.
“This level of philanthropic support far exceeded our expectations, given the current economic climate and the disproportionate impact of the recession on South Carolina,” said Medical University President Ray Greenberg. “This is great news not only for the Medical University, but also the entire state. We’re extremely grateful for this vote of confidence.”
The year’s contributions pushed the Medical University to within $12 million of reaching the $300 million goal of a capital campaign it publicly launched in May of 2008. Greenberg said the campaign’s proceeds will enable the university to provide scholarships, build new facilities, launch new patient-care programs and pursue important scientific investigations that otherwise wouldn’t be possible under its current economic circumstances.
The largest portion of last year’s contributions to the Medical University (almost $49 million) came in the form of gifts and matching funds from foundations and nonprofit organizations. Almost $12.8 million came from individual benefactors, including patients, alumni and other supporters. Businesses and corporations contributed almost 9.2 million, accounting for almost 13 percent of all funds.
Founded in 1824 in Charleston, The Medical University of South Carolina is the oldest medical school in the South. Today, MUSC continues the tradition of excellence in education, research, and patient care. MUSC educates and trains more than 3,000 students and residents, and has nearly 11,000 employees, including approximately 2,000 faculty members. As the largest non-federal employer in Charleston, the university and its affiliates have collective annual budgets in excess of $1.6 billion. MUSC operates a 750-bed medical center, which includes a nationally recognized Children's Hospital, the Ashley River Tower (cardiovascular, digestive disease, and surgical oncology), and a leading Institute of Psychiatry. For more information on academic or clinical services, visit http://www.musc.edu or www.muschealth.com.