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Philanthropic support of MUSC again tops $63 million

Charleston, S.C. (August 23, 2007) – For the second consecutive year, philanthropic support of the Medical University of South Carolina exceeded the $63 million mark during fiscal 2007, according to figures released today by the school’s Development Office.

Between June 30, 2006 and July 1, 2007, the Medical University received more than $63.6 million in contributions.  The largest portion of this amount (more than $25.5 million) came in the form of gifts and matching funds from foundations and nonprofit organizations.  More than a third (almost $22.8 million) came from individual benefactors, including patients, alumni and other supporters.  Businesses and corporations contributed $15.3 million, an increase of 7.7 percent over the previous year.

The university achieved two significant fund-raising milestones during the year: a record number of donors (10,916) and a record number of gifts (18,115), surpassing the previous records by more than 12 percent and 13 percent respectively.  The two increases are significant because they indicate a growing base of support for the Medical University and its mission, said Jim Fisher, MUSC’s vice president for development. 

“Like every other university, we have always depended on our alumni for philanthropic support, and we always will,” said Fisher. “What’s interesting is that we are receiving so many gifts from outside that traditional circle of supporters, from people who view the Medical University as a vital health resource for the entire state, as well as an educational institution.”

Private gifts have come to play an increasingly important role in supporting academic, patient care and research activities at the Medical University, said Fisher.

“Although MUSC is considered a state-assisted institution, our state support has dropped to the point where it now accounts for about 7 percent of our annual operating costs,” he said.  “Philanthropy helps minimize the impact of that shortfall, and provides funds for everything from scholarships and endowed chairs to new buildings and facility upgrades.”  

Fisher said that the Medical University currently is planning a campus-wide capital campaign to help strengthen its full range of academic, research and patient care enterprises.  He said that, based on the university’s growing base of philanthropic support, he was confident the campaign would be a successful one.

We are extremely grateful for the confidence and generosity people have extended to the Medical University,” he said. “We’re certainly hopeful that this trend would continue on an upward path, as the university continues to grow and touch people’s lives in a positive way.”