July 20, 2004
Contact: John Nash
FOR IMMEDIATE RELEASE
Philanthropic support of MUSC reaches new high
CHARLESTON, SC (July 20, 2004) - Philanthropic support of the Medical University of South Carolina continued to grow during fiscal 2003-2004, with the university reporting a record $34.7 million in gifts and pledges. On a fiscal year basis, the university raised 2.7 percent more in private gifts this year than last. On a calendar year basis, however, giving grew 28 percent compared to the national growth rate of 2.8 percent, as reported in June by the American Association of Fundraising Counsel.
The largest share of the gifts to the Medical University - $15.6 million - came from individual university friends, a broad mix of former patients, alumni, staff and other supporters. Meanwhile, corporate contributions to the university jumped almost 19 percent to $8.4 million, and foundation support rose more than 15 percent to $6.7 million. The university also received almost $4 million from non-profit organizations.
The sharpest increase in giving took place among university employees, who gave almost $1.1 million, an increase of 39 percent over the previous fiscal year.
University President Dr. Ray Greenberg said that philanthropic support had become increasingly important in maintaining a high quality of health care and education at the Medical University, which is South Carolina's largest and most comprehensive academic medical center.
"At a time of diminishing state support, the funding provided by friends of the university is increasingly important," said Greenberg. "Over the past three years, our allocations from the state have been cut by about a third. Fortunately, during this same time, we have seen philanthropic funding grow from about $25 million to almost $35 million a year. While our gains have not offset our losses, they certainly have helped minimize their impact upon our patients and students while enabling us to make progress in several strategically important areas."
Greenberg said that last year's gifts would fund several building projects on campus, including the construction of a new Children's Research Institute, a new dental education facility, a College of Health Professions complex and an expansion of the Hollings Cancer Center. In addition, the university will use these gifts to create scholarships, attract top faculty and caregivers and fund medical research efforts, he said.
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