Contact: Maridith Geuder
Mississippi State University attracted a record total of more than $74 million in private gifts and pledges of future support during 2001-02.
That figure is up 33 percent from the previous year's record of $55.8 million.
Alumni and friends of the university contributed $74.3 million in gifts, pledges payable over five years, and deferred gifts, such as bequests, during the 12 months ending June 30, said Vice President for External Affairs Dennis Prescott.
"This level of private support for Mississippi State despite the sluggish behavior of the economy over the past year is clear evidence that alumni and friends have confidence in the quality of the university and are committed to helping us do a still better job of serving Mississippi," said Interim President J. Charles Lee.
"The individuals and organizations who are investing their own resources in the future of this institution and the people it serves recognize the vital role that Mississippi State plays in the life of the state and region," he said. "We are deeply grateful for their support, which is probably more important during this era of declining state funding than at any time in the history of the university."
Another record-breaking year of private support is an important milestone for the university, said Prescott. "The Foundation, just as it has for the past 40 years, truly is making a difference at Mississippi State." Most fund raising for Mississippi State is conducted by the MSU Foundation, established in 1962 to help the university attract support from private sources.
The 14,000 separate gifts received from individuals, corporations, foundations, trusts, and estates represents a 35 percent increase in the number of gifts from the previous year.
The proportion of alumni who contributed during the year also jumped, from 12 to 16 percent, surpassing several major peer institutions in that measure of support among former students.
Of the total funds raised in 2001-2002, new gifts accounted for $35.3 million, up 83 percent, and new pledges totaled $32.5 million up 35 percent. Deferred gifts made up the remaining $6.5 million.
Total giving for a fiscal year is the sum of outright gifts, pledges of new gifts, and commitments of deferred gifts, Prescott said. The total does not include payment of pledges from previous years or receipts of deferred gifts committed in previous years.
The university's endowment currently is more than $153 million.