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California State University receives $326 million in donations during 2006-07
(January 22, 2008) – The California State University received a record $326 million in charitable gifts and commitments in 2006-07 according to the CSU Annual Report on External Support presented today to the Board of Trustees. This year’s giving increased significantly from the $285 million raised in 2005-06.
“This success is attributed to donors recognizing the growing need for a highly educated workforce,” said Richard West, CSU executive vice chancellor and chief financial officer.”
According to the report, charitable gift receipts (a combination of new gift receivables and pledge payments) totaled nearly $234 million, exceeding the $216 million received in 2005-06.
Alumni and friends provided more than $13 million for student scholarships, and $120 million for academic initiatives, athletics, public service programs and other current university objectives. Capital enhancements included $28 million to build top quality facilities, and $51 million added to endowments. Irrevocable deferred gifts account for the remainder of gift receipts.
In addition to charitable support, the CSU also received more than $1.1 billion in operating grants and contracts, similar to the amount received the previous year.
About California State University
The California State University is the largest system of senior higher education in the country, with 23 campuses, approximately 450,000 students year round and 46,000 faculty and staff. Since the system was created in 1961, it has awarded nearly 2.5 million degrees, about 89,000 annually. The CSU is renowned for the quality of its teaching and for the job-ready graduates it produces. Its mission is to provide high-quality, affordable education to meet the ever-changing needs of the people of California. With its commitment to excellence, diversity and innovation, the CSU is the university system that is working for California. See www.calstate.edu
Last Update: January 22, 2008