January 13, 2000

STATE SYSTEM RAISES $29 MILLION IN PRIVATE FUNDS, ENDOWMENTS GROW TO IN EXCESS OF $124 MILLION

Contact: Kevin Hensil, khensil@passhe.edu

Private donors, including alumni, corporations and foundations, contributed nearly $29 million to the State System of Higher Education, which comprises the 14 state-owned universities, last year.

The total essentially matches the previous year’s record level of private giving and represents an increase of approximately 70 percent over six years ago.  Gifts from foundations have increased 236 percent since 1993-94, totaling $4.1 million last year.  Corporate contributions have risen to $6 million, a 67 percent increase over the same time period.

“The continued support of the State System of Higher Education from individuals, corporations and foundations is a strong endorsement of each of our universities,” said F. Eugene Dixon Jr., chairman of both the Board of Governors and the Fund for the Advancement of the State System of Higher Education, Inc. “That support is essential to help ensure our universities can continue to serve the Commonwealth by providing high-quality, affordable education to all students.”

Bloomsburg University of Pennsylvania raised the largest amount in 1998-99, receiving monetary gifts totaling $3.68 million.  Bloomsburg’s total represented nearly 5 percent of its operating budget.

California University of Pennsylvania has the distinction of having increased its fund raising totals every year for the past five years.  Its 1998-99 total was more than four times the amount raised by the university in 1993-94.

Cheyney University of Pennsylvania has increased its total funds raised by nearly 800 percent in five years.

Overall, System alumni contributed $7.9 million in 1998-99, with Shippensburg University of Pennsylvania receiving the largest total support ($1.08 million) from its graduates.  Shippensburg (26 percent), Lock Haven (21 percent) and Mansfield (21 percent) universities had the highest percentages of alumni who donated to their schools last year.

The largest gift from an individual, and also the largest single gift in the amount of $1.4 million, was received by Clarion University of Pennsylvania.  Kutztown University of Pennsylvania received the two largest bequests, of approximately $400,000 each.  East Stroudsburg University of Pennsylvania received the largest corporate gift of $616,300 and California University, the largest foundation gift of $650,000.

The endowments of System universities and foundations and the Fund for the Advancement of the State System of Higher Education, Inc., were reported at a combined market value of $124.6 million as of June 30, 1999.  The total represents nearly $1,500 of endowed funds per full time equivalent student in the System.  The combined endowment market value increased 17 percent last year and by 171 percent in the past five years. 

Three System universities, Indiana, West Chester, and California, have completed successful multi-faceted fundraising campaigns in the last 18 months.  Bloomsburg and Clarion universities are in active comprehensive campaigns and Shippensburg University is completing a mini-campaign.  Ten universities are in the planning or advance gift stages of new campaigns, with composite goals exceeding $160 million to be realized in the next two to eight years.

“Private giving has enabled our universities to continue to grow and to excel,” said Charles R. Agnew, vice chancellor for development. “We are grateful for all of the support we have received from our alumni as well as from the corporations and foundations that have invested in the education of our students.”

The State System of Higher Education is the largest provider of higher education in the Commonwealth.  Its 14 universities offer more than 250 degree and certificate programs in more than 120 areas of study.  Nearly 350,000 System alumni live and work in Pennsylvania.

The state-owned universities are Bloomsburg, California, Cheyney, Clarion, East Stroudsburg, Edinboro, Indiana, Kutztown, Lock Haven, Mansfield, Millersville, Shippensburg, Slippery Rock and West Chester Universities of Pennsylvania.  The System also operates branch campuses in Clearfield, Kittanning, Oil City and Punxsutawney and several regional centers, including the University Center for the Capital Region (Dixon University Center) in Harrisburg and the University Center for Southwest Pennsylvania in Pittsburgh.  The regional centers are part of the Educational Resources Group, which is responsible for coordinating statewide programming.