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Milestone set with more than $67M in support
MUSC achieved a record
level of philanthropic support last year, with more than $67 million in
gifts, pledge payments and new pledges received, according to figures
released by the university's Development Office.
During fiscal 2007-2008, MUSC received more than $67.4 million in
contributions; exceeding the previous year's total by 5.4 percent and
outpacing the national growth rate of 3.9 percent reported by
nonprofits, according to the Giving USA Foundation. The largest portion
of last year's contributions to the university (more than $35.1
million) came in the form of gifts and matching funds from foundations
and nonprofit organizations. More than a third (almost $24.4 million)
came from individual benefactors, including patients, alumni and other
supporters. Businesses and corporations contributed $7.7 million,
accounting for more than 10 percent of all funds.
For the third consecutive year, the university achieved two significant
fund-raising milestones: a record number of donors (12,312) and a
record number of gifts (19,929), surpassing the previous records by
more than 11 percent and 9 percent respectively. The two increases are
significant, because they indicate a growing base of support at a time
when the medical university is conducting a $300 million capital
campaign, said MUSC President Ray Greenberg, M.D., Ph.D.
The medical university launched the public phase of its campaign, A
Partnership for Promise, in May in response to a growing need for
private funds, which have come to play an increasingly important role
in supporting the public institution's academic, patient care and
research activities, said Greenberg.
“Although MUSC is considered a state-assisted institution, our state
support has dropped to the point where it now accounts for just more
than 6 percent of our annual operating costs,” Greenberg said.
“Philanthropy plays a critical role in helping us overcome that
shortfall so that we can continue to meet South Carolina's growing
health care needs.”
Greenberg reiterated that, based on the university's growing base of
philanthropic support, he was confident the Partnership for Promise
capital campaign would be a successful one, having already raised $226
million toward the campaign's $300 million goal.
Friday, Aug. 8, 2008
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