$94.9 Million In Private Gifts Sets Record

7-11-97
University Park, Pa.- Penn State received gifts totaling $94.9 million from alumni and friends during the fiscal year ending June 30, 1997, a 14 percent increase over gift totals from the previous year. The number of donors also increased to nearly 109,000, up from 106,900 in 1995-96.

This is the seventh consecutive year that private giving to the University has increased.

"These gifts will significantly strengthen the quality of our academic programs," said President Graham B. Spanier. "Our donors have designated their support for a variety of areas that have a critical need for more funds - scholarship endowments and graduate fellowships, new lab equipment, library acquisitions, and faculty research, to name just a few. We are very grateful to our alumni and friends for their extraordinary generosity."

Giving was up in all categories. Nearly 63,000 alumni made gifts totaling $29.7 million, compared with $26.9 million in 1995-96. Nearly 5,000 corporations made gifts totaling $30.9 million, compared with $24.8 million the previous year. About 1,600 foundations and other organizations made gifts totaling $19.5 million, compared with $17.3 million from this source in 1995-96. Gifts from 39,000 nonalumni individuals totaled $14.9 million, up from $14.2 million the year before.

Spanier also noted that these gifts would be counted as part of the advance phase of the University-wide capital campaign that Penn State expects to launch at a later date.

"While we have not yet determined the dollar goal for the campaign, this year's record giving certainly gives our fund-raising efforts strong momentum," he said. "The fact that so many individuals and organizations want to help Penn State is a tremendous source of inspiration as we continue to set the strategic direction of the campaign."

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