Contact: Sammy McDavid
Mississippi State officials are reporting continued success in fund-raising, with more than $40 million in private gifts and future pledges received during the past fiscal year.
The 126-year-old land-grant university's alumni and friends contributed $46 million in immediate and deferred gifts, as well as pledges payable over five years, during FY 2003-04 that concluded June 30.
"We unquestionably are pleased to reach and sustain this particular level of fund raising at the university," said Dennis Prescott, vice president for external affairs. "The generosity of alumni and friends has enabled us to mark the fifth consecutive year Mississippi State has surpassed the '40' mark in fund raising."
Prescott said the MSU Foundation has averaged nearly $52 million annually over the past five years in gifts from individual donors, corporations, foundations, trusts, and estates.
David Easley, the foundation's associate director and chief financial officer, said new gifts accounted for $19.4 million and new pledges totaled $10.2 million during FY04. "Deferred gifts made up the remaining $16.3 million, more than doubling last year's total," he added.
"We experienced our most successful year ever in deferred gifts; this is encouraging because non-profits across the nation have seen a decline in such gifts for several years," Easley said. "Obviously, our alumni and friends understand the importance of gift planning and the benefits that accompany it."
Prescott said the proportion of alumni contributing during the year held at 15 percent--a constant that enabled MSU to maintain its ranking ahead of several major peer institutions in the measure of support among former students.
"These constant variables, which include the proportion of alumni contributing and total gifts and pledges, will allow us to enter into the public phases of our newest comprehensive capital campaign with confidence," Prescott observed.
He said Mississippi State is about to formally launch the "State of the Future: The Mississippi State Campaign." The announcement will be made in conjunction with Oct. 8-10 Homecoming festivities on the Starkville campus.
A capital--or major gifts--campaign is a multi-year fund-raising and marketing effort designed to dramatically increase the level of private gift support for the university. At present, MSU is in the "silent" phase, during which the foundation works with volunteers to secure large, leadership-level gifts that ensure campaign success.
MSU's first-ever major gifts campaign concluded in 1997 with more than $143 million in private gifts, pledges and deferred gifts for the university.
Although the new campaign goal has not been set, Prescott said it will "significantly exceed" the amount raised in the earlier effort.
For MSU, the largest single 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 separate, substantial in-kind gift.
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. The foundation's fiscal year 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 and endowment funds, which currently exceed $180 million.
NEWS EDITORS/DIRECTORS: For additional information on MSU's private fund-raising efforts, contact Mr. Prescott at (662) 325-9306.