Contact: Harriet Laird
STARKVILLE, Miss.--For a second consecutive year, Mississippi State University has topped the $60 million mark in the area of private gifts, with more than $65 million contributed during the just ended fiscal year.
Much of the FY 10 giving was through the specialized initiative StatePride, said John P. Rush, vice president for development and alumni and CEO of the MSU Foundation.
"The generosity of donors has sparked the third highest giving year in Mississippi State University history and marked the first time in our fundraising history we've experienced back-to-back $60 million plus years," Rush said. "We were pleased to exceed $61.5 million in FY 09, and we are extremely pleased to surpass $65 million for FY 10."
Of the total funds raised for FY 10, new gifts accounted for more than $25.9 million, and new pledges totaled in excess of $30.9 million. Deferred gifts made up the remaining $8.2 million plus.
MSU President Mark E. Keenum said, "Alumni and friends continue to provide strong support for our university despite difficult economic times. These efforts represent a powerful testament to the generosity of those who give and the value they attach to the leadership role Mississippi State is playing in our state and nation."
Keenum continued, "We are especially gratified by the investments in scholarships and endowed faculty positions that are helping ensure a quality education for an expanding population of deserving students."
An influx in contributions for the on-going StatePride initiative fueled the year.
Mississippi State is in the second year of the four-year effort to secure student scholarships and awards for meritorious faculty members in recognition of their teaching, research or service activities.
A surge in athletic giving also impacted fiscal year totals.
"We are energized by donors who understand the importance of contributing to the university as a whole, with a passion for athletics and academics. These individuals are utilizing available matching funds to assist the university as it prepares for more students," said MSU Athletic Director Scott Stricklin.
Funds immediately available from StatePride will provide $1 million in faculty awards and an additional $1 million in scholarships for the upcoming fall semester. This amount is a result of matching funds provided annually through a special partnership with MSU Athletics over the course of the initiative.
Since its launch in 2009, StatePride has raised nearly $40 million toward its $100 million goal. Mississippi State will continue to place an emphasis on StatePride priorities through calendar year 2012.
Additionally in FY 10, Mississippi State experienced a notable increase in the percentage of alumni who contributed to the university.
"The proportion of alumni who gave during FY 10 reached more than 19 percent, which is up from a 14 percent participation rate in FY 09. That figure is significant, since the number of alumni giving to their degree-granting institutions appears to be down nationally," Rush said.
Recent statistics highlighted in the Chronicle of Higher Education cited that participation rates fell significantly in 2009.
Rush acknowledged, "Mississippi State is extremely proud of the proportion of alumni who gave in FY 10. The faith these former students continue to show in the institution and the value these individuals place on their MSU education will help us grow over time."
Founded in 1962, the MSU Foundation administers the majority of the institution's fundraising activities and endowment funds. The Foundation's current endowment stands at approximately $300 million.
For more information about Mississippi State University, see http://www.msstate.edu/.