CSU receives $326 million in donations

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CSU receives $326 million in donations

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.