Contact: Sammy McDavid
Mississippi State continues to attract more than $40 million annually in private gifts and future pledges.
During the 2002-03 school year ending June 30, university alumni and friends contributed $40.3 million in immediate and deferred gifts, as well as pledges payable over five years.
"This is the fourth consecutive year Mississippi State has surpassed the '40' mark in fund raising," said Dennis Prescott, vice president for external affairs. "This is a benchmark never previously achieved by the university."
MSU President Charles Lee said that, despite challenging economic times, "the continued investment by individuals and organizations in the future of the institution shows how much people recognize the vital role that Mississippi State plays in the state and region.
"We are deeply grateful for that support, which becomes increasingly important as state support continues to decline as a proportion of the overall funding for operation of the university," Lee added.
Prescott said the proportion of alumni contributing during the year held at 16 percent--a constant that enabled MSU to maintain its ranking ahead of several major peer institutions in the measure of support among former students.
Of the total funds raised in 2002-03, new gifts accounted for $15 million and new pledges totaled $20 million. Deferred gifts made up the remaining $5 million.
Also, monies raised through the MSU Foundation's telephone fund-raising effort exceeded the $1 million mark for the second consecutive year.
For MSU, the largest giving year took place fiscal year 2001-02 when $74.3 million in gifts and pledges were received. Among that year's commitments was a single $25 million gift--the largest in university history--and a substantial accompanying in-kind gift.
Over the past four years, the foundation has averaged nearly $53 million a year for gifts received from individuals, corporations, foundations, trusts, and estates.
Prescott said giving totals during a fiscal year are determined by adding new gifts received to monies pledged and deferred gifts received during the fiscal year. In Mississippi, a fiscal year for state agencies begins July 1 and ends the following June 30.
The MSU Foundation was established in 1962 to help the university attract support from private sources. It now administers most of the institution's fund-raising activities.
NEWS EDITORS/DIRECTORS: For additional information on the university's private fund-raising efforts, contact Mr. Prescott at (662) 325-9306 or dprescott@exaffairs.msstate.edu.