CSU Fund Raising Challenged in 2002-03’s Tough Economic Times
(Jan. 22, 2004) — The California State University reached a record $302 million in philanthropic support in 2002-03 despite a lackluster stock market that reduced charitable giving to higher education nationwide.
The increase was boosted by future commitments received through multiyear pledges and estate commitments. In-kind and cash gifts, however, declined by 7.6 percent to $237.8 million compared to $257.3 million the year before. The result is consistent with national trends in giving to higher education and reflects caution in consumer spending as the stock market declined.
“Although the economy impacted dollars received this year, CSU donors demonstrated strong commitment to the university’s mission by increasing multiyear pledges and gifts through estates,” said Richard P. West, CSU executive vice chancellor and chief financial officer. “This growth in commitment shows donors’ increased confidence in the CSU, which will bring positive paybacks in the future.”
Giving by individuals decreased 1.9 percent from $92.9 million to $91.1 million. Parents and other individuals gave nearly $70 million, and alumni gave $21.1 million.
Giving by organizations decreased 10.7 percent to $146.7 million. Corporations donated $82.2 million, foundations donated $39.8 million and other organizations donated $24.5 million.
Three CSU campuses each exceeded $30 million in philanthropic support. San Diego State raised $60.9 million, Cal Poly San Luis Obispo raised $37.5 million and Cal State Long Beach raised $30.8 million.
Total external support — a combination of philanthropic support and special revenue from sponsored grants and contracts — reached $840.9 million, a 15% decline over the previous year.
Over the past decade, the 23 CSU campuses have raised more than $7 billion in external support. These funds supplement the state budget and enhance the students’ educational experiences by keeping pace with advances in technology and applied research.
The California State University is the largest system of senior higher education in the country, with 23 campuses, approximately 409,000 students and 44,000 faculty and staff. Since the system was created in 1961, it has awarded about 2 million degrees. 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.
Contact: Clara Potes-Fellow, 562-951-4806, email@example.com
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Last Updated: January 22, 2004
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