Giving to the CSU is Strong in 2008-09, Despite Economy
Erik Fallis (562) 951-4800
(January 27, 2010) – Alumni and friends of the California State University continue to provide strong support for the university, according to the CSU Annual Report on External Support presented today to the Board of Trustees.
The CSU received $366 million in charitable gift commitments during 2008-09. Gift receipts (new gifts and pledge payments) totaled more than $260 million, nearly matching the previous year's record-breaking total.
"Despite economic hardship, supporters of the university rallied to uphold the CSU mission of educational quality and access," said Garrett P. Ashley, CSU vice chancellor for university relations and advancement. "Our friends and alumni understand the path back to recovery runs through the university classroom."
According to the report, which covers external support received from July 1, 2008 to June 30, 2009, donors provided more than $173 million for student scholarships, academic initiatives and other current university needs or objectives. Another $81 million went to new facilities, endowments and irrevocable deferred gift accounts.
Only $6.5 million received were unrestricted gifts, which the university can allocate towards its most pressing needs. These unrestricted dollars represent two percent of total gift receipts, consistent with previous years.
CSU endowments suffered a 17 percent investment loss, comparable to a national university average loss of 19 percent. Donors contributed $39 million in new gifts to endowments, with over half of those contributions dedicated to student scholarships.
In addition to charitable support, the CSU also received more than $1.5 billion in operating grants and contracts, of which $268.5 million came from one-time federal stimulus funds. Federal grants reported included student financial aid of $423 million in Pell Grants, $11.5 million in State Educational Opportunity Grants, and $16 million for work study programs. The 2009 American Recovery and Reinvestment Act funds helped partially mitigate the funding gap created by severe state budget cuts.
Gift Receipt (by designation)
Academic programs - $77.2 million
Endowments (primarily for student scholarships) - $39 million
Facilities construction - $25 million
Public service programs - $23.8 million
Irrevocable deferred gifts - $17 million
Student scholarships (not through endowments) - $15.2 million
Athletics - $14.4 million
Applied research -$9.6 million
Faculty compensation - $2.5 million
Physical plant operations - $1.9 million
Library operations - $1.6 million
Designations for other university needs - $26.7 million
Unrestricted - $6.5 million
About the California State University
The California State University is the largest system of senior higher education in the country, with 23 campuses, approximately 427,000 students and 44,000 faculty and staff. The CSU awards about 99,000 degrees annually and since its creation in 1961 has conferred nearly 2.6 million. The CSU is renowned for the quality of its teaching and for the job-ready graduates it produces. The mission of the CSU 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.
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