Colorado State University today reported a fundraising total of more than $61 million in total gifts and pledges for the 2002-2003 fiscal year-the highest amount in the school’s history. The total was announced in anticipation of the annual 1870 Recognition Dinner, an event set for Oct. 24 to honor the university’s major donors and to celebrate fundraising successes.
"Despite the economic downturn, our dedicated donors have continued to ensure that Colorado State has the resources needed to enhance teaching, service and research," said Jean Rahn, executive director of development. "We are truly grateful to receive the strong support of so many friends and alumni."
Private gifts and pledges were received from more than 27,000 donors in fiscal year 2002-2003. Top cash gifts included the record-breaking $20.1 million gift by the Bohemian Foundation-a gift that will support the University Center for the Arts, an academic facility for programs in music, theatre and dance, as well as enhance and renovate Hughes Stadium.
The gift included a $4.9 million commitment to the University Center for the Arts and a $15.2 million commitment for the renovation of Hughes Stadium.
Major equipment and other in-kind gifts enhanced both teaching and research programs. These gifts included a 22-foot engine for the Department of Mechanical
Engineering, sophisticated project management software for the Department of Construction Management, a pledge and funding for an MRI for equine orthopaedics and two collections of valued instruments including violins, violas and a flute for the Music Department.
In addition, Colorado State received multi-million dollar support for endowed chairs, professorships and distinguished lecture series. Endowed chairs now total 14, an increase of eight within the last three years.
Private donations also help students attend Colorado State-this year, 1,781 students received nearly $2.9 million in scholarships and fellowships from endowments funded by private sector donors.
"The generous support our donors have provided this year demonstrates a tremendous pride in the institution as well as recognition of its excellence and vision," said Larry Kendall, chairman of Colorado State’s Development Council. "The 1870 Dinner is an opportunity to celebrate the university’s accomplishments and to learn about the ways private donations help the institution."
The 1870 Recognition Dinner pays tribute to 1870 Club donors who contribute gifts of $1,870 or more annually to the university. The 1870 Club was named in honor of the university’s founding that same year. Club members include alumni, corporations, foundations, organizations and friends of the university.
The event also honors members of Colorado State’s lifetime giving societies and the Frontier Society. The university’s three lifetime giving societies recognize cumulative gifts of donors. They include the Presidents Society, recognizing cumulative commitments between $25,000 – $99,999; the Morgan Society for contributions between $100,000 – $999,999; and the Lory Society for gifts of $1 million or more. Frontier Society members have made planned gifts to Colorado State.
The 1870 Recognition Dinner will begin at 6 p.m. in the newly renovated Main Ballroom of the Lory Student Center on campus. The evening will include a reception and dinner with entertainment provided by student musicians, a recognition program with remarks by President Larry Penley and performances by several student groups from the Department of Music, Theatre and Dance.
Fundraising in 2002-03 continues an upward trend at the university. Colorado State has reported record private support over the past several years, including the following totals posted over the last five years:
98/99 — $25.4 million
99/00 — $32.3 million
00/01 — $37.8 million
01/02 –$43.5 million
02/03 – $61.9 million
In addition to this success in private giving, Colorado State has garnered increased support from a variety of sources and significantly expanded its resource base.
Since 1990, the university’s total invested assets have grown dramatically, increasing from $26 million to a high of more than $133 million a decade later in 2000. The total invested assets for the last fiscal year were at $135,765,000.
Research funding over the last several years has seen a similar and dramatic increase. As a result, Colorado State currently ranks third in the nation for federal funding among public universities without a medical school and second for life sciences federal funding. Research expenditures in the 1989-90 fiscal year were $94 million. In fiscal year 2001-02, the university posted a record $183 million.