Contact: Sammy McDavid
STARKVILLE, Miss.--Mississippi State is marking its highest giving year in university history after having raised more than $78 million in private gifts and pledges for the just-ended 2006 fiscal year.
"The outpouring of philanthropic support for this institution continues to amaze me," said MSU President Robert H. "Doc" Foglesong. "Private funds are impacting Mississippi State in almost every aspect, allowing for much needed growth in the areas of scholarships, endowed positions, facilities, and program enhancements."
For the fiscal year ending June 30, Mississippi State experienced a 54 percent increase in private support from the more than $51 million in total funds raised during FY 05. Also during the 12-month period, a total of nearly $79 million had been received from individuals, corporations, foundations, trusts, and estates in immediate and deferred financial gifts, as well as pledges payable to the university over five years.
For the 128-year-old land-grant institution, the largest single giving year previously took place in FY02 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.
Of the total funds raised this year, new outright gifts accounted for more than
$35 million, while pledges (commitments to future giving) totaled nearly $25 million. Deferred gifts usually received after the donor's death made up the remaining $18 million.
Dennis Prescott, vice president for external affairs, said MSU also experienced its most successful year ever in deferred gifts.
"Many of our constituents are beginning to take advantage of making a gift to the university and reaping the benefits for themselves as well," Prescott explained.
A highlight of the just-ended fiscal year was a $10 million gift from Judy and Bobby Shackouls. The Texas couple created an endowment for an honors college that now bears their names.
Other significant contributions include gifts earmarked for the first professorship and graduate fellowship for the College of Veterinary Medicine.
MSU is in the midst of its largest capital campaign to raise $400 million by the end of 2008. Since counting for "State of the Future: The Mississippi State Campaign" began in July 2001, the highly organized effort is nearing $327 million in private gifts. All contributions to the university through December 31, 2008, are considered State of the Future commitments.
"The success of 'State of the Future' clearly can be seen in the growth of our endowment," Prescott said. "Alumni and friends are truly giving for the future since the university will reap the benefits of endowed funds in perpetuity."
The Mississippi State endowment currently is estimated in excess of $230 million, up from $211 million at the close of FY 05.
To date, the three highest years of giving have been during the campaign--01-02, 04-05 and 05-06.
Giving totals during a fiscal year are determined by adding new gifts received to monies pledged and deferred gifts received during the fiscal year. Like state government, the foundation's fiscal year begins July 1 and concludes 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.