USC breaks fundraising record

The University of South Carolina has announced it brought in $106.2 million in private giving for the 2007-08 year, far above the previous record (which was only set last year ...) of about $67 million. The university saw an increase in both donors and the amount given per donation. All in all, the school reported nearly 46,000 donors for the year.

From the University of South Carolina:

Andrew Sorensen, who is retiring as university president July 31, said the figure reflects recognition that the university is an investment in the future of the state and young people.

“In a year of economic challenges nationally and declining state and federal support for higher education, our alumni, parents, friends, faculty and staff have stepped up giving because they see the University of South Carolina as one of the greatest investments they can make in the future of our young people and our state,” Sorensen said. “They know that, by supporting higher education, they’re providing more access to a world-class education, more research discovery that improves lives and more job creation and innovation for the state and region.”

Donors have designated the $106.2 million in these ways: $32.6 million for student support, including scholarships, assistantships and fellowships; $4.5 million for faculty support, including endowed professorships and chairs; $44.8 million for program enhancements, including research and outreach; $16.5 million for capital projects; and $7.8 million in unrestricted gifts.

Harris Pastides, who marked his first day as Sorensen's replacement today, is also known for his abilities in fundraising, one of the major reasons he was chosen for the post.

You can watch Pastides' first-day message here.

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