UC raises record-setting $1.64 billion in private donations
The University of California raised a record-setting $1.64 billion in private donations over the past fiscal year, gifts that are enhancing virtually every aspect of the university, from faculty recruitment and student financial support to leading-edge research facilities.
It’s the third year in a row that donations have surpassed $1.5 billion, according to the Annual Report on University Private Support, presented to the UC Board of Regents last week.
The number of contributors also continues to rise, said Daniel Dooley, senior vice president for external relations. Nearly 300,000 unique donors made gifts to UC last year, a sign of confidence in the university from alumni, foundations and other supporters, he said.
The report shows that donor giving is almost exclusively tied to specific projects and purposes, meaning that UC is restricted in how it can use the funds.
“It’s hard to overstate the importance of philanthropic giving to the university,” Dooley said. “But because the funds are restricted in nature, private support is unlikely to ever replace our reliance on state funding.” Dooley discussed the report with the Board of Regents on Nov. 13.