Philanthropic support of MUSC tops $63 million
*Charleston, S.C**. (Sept. 4, 2007)* – For the second consecutive year, philanthropic support of the Medical University of South Carolina (MUSC) exceeded the $63 million mark during fiscal year 2007, according to figures released by the school’s Development Office.
Between June 30, 2006 and July 1, 2007, MUSC received more than $63.6 million in contributions. The largest portion of this amount (more than $25.5 million) is from gifts and matching funds from foundations and nonprofit organizations. More than a third (almost $22.8 million) came from individual benefactors including patients, alumni and other supporters. Businesses and corporations contributed $15.3 million, an increase of 7.7 percent from the previous year. Although MUSC is considered a state-assisted institution, state support only accounts for approximately 7 percent of MUSC’s annual operating costs.
“Philanthropy helps minimize the impact of that shortfall, and provides funds for everything from scholarships and endowed chairs to new buildings and facility upgrades,” said Jim Fisher, MUSC’s vice president for development. Fisher also reported a record number of donors (10,916) and gifts (18,115) this year, noting that the increases indicate a growing base of support for the Medical University and its mission.
“Like every other university, we have always depended on our alumni for philanthropic support, and we always will,” Fisher said. “What’s interesting is that we are receiving so many gifts from outside that traditional circle of supporters, from people who view the Medical University as a vital health resource for the entire state, as well as an educational institution.”
MUSC currently is planning a campus-wide capital campaign to help strengthen its full range of academic, research and patient care enterprises.
“We are extremely grateful for the confidence and generosity people have extended to the Medical University,” Fisher said. “We’re certainly hopeful that this trend will continue on an upward path, as the university continues to grow and touch people’s lives in a positive way.”