Giving sets new record, bucks national trends
to MUSC grew to $70.9 million in gifts and pledges during fiscal year 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 MUSC President Ray Greenberg,
M.D., Ph.D. “This is great news not only for the Medical University,
but also the entire state. We’re extremely grateful for this vote of
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.
Thursday, Aug. 7, 2009