The California State University system yesterday announced a record-setting year in donations after receiving more than $260 million in face value contributions, more than a 12% increase over the $234 million received the year before. These figures were received from July 1, 2007 to June 30, 2008.
“Our donors have shown great generosity and placed their strong confidence in Cal State,” Garrett P. Ashley, CSU vice chancellor for university relations and advancement, said in a release. “Especially in times of economic downturn, our friends and alumni understand the university’s commitment to building the workforce of tomorrow.”
The record fundraising announcement comes during a troubling time in the CSU’s history, as massive drawbacks in state funding have forced administrators to cut enrollment, lay off faculty, and raise student fees. Protestors routinely visit headquarters on Golden Shore Drive in Long Beach, while CSU administrators place blame on the state’s budget crisis.
During the same time period, California State University at Long Beach raised nearly $34 million, a $6.6 million increase over the previous year. The successful year included CSULB’s largest single donation ever, a $16.4 million gift from the Bob Cole Trust. CSULB’s fundraising information was released back in July, when the statement noted that 80% of funds were from individual donors.
“What really stands out about the success we had this year is the fact that the nation’s economy was really in a slump, and those economic struggles had an effect on non-profit fundraising across the United States,” Andrea Taylor, vice president for University Relations and Development, said at the time of the release. “Despite the economic downturn, however, we have managed to post some significant numbers in terms of annual giving, and that success is the direct result of the trust that donors have in Cal State Long Beach’s academic programs and commitment to student success.”
The CSU report noted that charitable gift committments received reached $442 million in the form of philanthropic support, cash securities, multi-year pledges and support promised, but that the face-value funds actually received were $260 million.
By Ryan ZumMallen, Managing Editor