Private support for WSU tops $122 Million in FY2017
Monday, October 2, 2017
PULLMAN, Wash. – Washington State University supporters committed $21.6 million in private support in June — a record for that month — to bring WSU’s total fundraising activity to more than $122.6 million in gifts, grants, revocable commitments and other contributions during Fiscal Year 2017.
“This is a testament to each and every generous individual and organization who believe in WSU and want to be a part of instilling a margin of excellence across the University,” said Gil Picciotto, interim vice president for advancement and CEO of the WSU Foundation. “Regardless of where our donors chose to contribute — be it scholarships, research, liberal arts, medicine, athletics, etc. — their support demonstrates their faith in the excellence of WSU’s programs. It also demonstrates their belief in WSU’s ability to appropriately manage and steward the resources entrusted to it to benefit students, faculty and programs today and long into the future.”
The WSU Foundation received commitments from 55,743 donors who recorded nearly 109,000 gift transactions during FY2017, which ended June 30. Donors designated their contributions to support scholarships and fellowships, meaningful research, academic programs, and service initiatives across the state and beyond.
WSU President Kirk H. Schulz praised the commitment of alumni, friends and business partners who chose to invest in WSU during the past year.
“A critical component for WSU to achieve its goal to be recognized as a top 25 public research university by 2030 is a healthy and vibrant culture of philanthropy,” said Schulz. “When our donors and volunteers are actively invested in the vision and mission of Washington State University, there are almost no limits for how far we can advance the academic, research and service programs that directly benefit our state’s students, communities and industries.”
Student support
Donors contributed more than $17 million in scholarships and graduate fellowships during FY2017, paving the way for even more students to join thousands of WSU scholarship and fellowship recipients each year. FY2017 also saw the first cohort of 18 Logan Scholars, just a year after a historic $16.5 million estate gift established the R.H. and Jane Logan Scholarship. WSU’s largest endowed scholarship program, the Logan Scholarship supports high-achieving undergraduate and graduate students who plan to pursue careers in teaching and who demonstrate financial need.
More than $31 million in private gifts and grants were contributed to support research and academic programs universitywide during FY2017.
Endowment Performance
The WSU endowment experienced a net gain in market value of more than $53 million to finish the fiscal year at its high water mark of $466.1 million. The endowment saw more than $19.3 million in new contributions and other additions, and the creation of 86 new endowed funds during FY2017. Half (43) of the new funds were established as new scholarships and graduate fellowships to benefit WSU students at WSU Pullman and at campus locations across the state. More importantly, distributions from the endowment to directly support students, faculty, research and other programs universitywide topped $25 million in FY2017.
Established in 1979, the WSU Foundation promotes, accepts, and maximizes private support for programs, initiatives, and properties of Washington State University. The WSU Foundation also prudently manages, invests, and stewards the assets entrusted to it by WSU and its alumni, friends, and donors. Since the celebration of the successful $1 billion Campaign for Washington State University two years ago, supporters contributed more than $250 million in private support University-wide.
