Uploaded: Thursday, October 18, 2012, 1:26 PM
Stanford University logs record fundraising year
$1.035 billion gift total exceeds previous record set in 2005-06 by 13.6 percent
|Stanford University recorded a record year in fundraising in 2011-12, both in total dollars and in the number of people making gifts.
The university -- including Stanford Hospital & Clinics but not including Packard Children's Hospital -- received $1.03 billion in support from nearly 79,000 individual and institutional donors, including corporations and foundations.
The cash total represents a 45.9 percent increase over the previous fiscal year, and a 13.6 percent increase over the previous record set in fiscal year 2005-06.
Last year's unusual results reflect $100 million of a $150 million gift from Menlo Park residents Dorothy and Robert King to establish the Stanford Institute for Innovation in Developing Economies. They also reflect the final months of the major, five-year university-wide Campaign for Stanford and the early months of a new Campaign for Stanford Medicine.
Funds were allocated for key priorities, including: $304.3 million for research and programs; $102.1 million for buildings and facilities; $70.8 million for student support, including undergraduate scholarships and graduate fellowships; and $62.1 million to attract and support faculty.
"We are humbled by the breadth and depth of support that continues to flow from our alumni, parents and friends, as well as from the foundation and corporate communities," said Martin Shell, Stanford's vice-president for development.
Stanford President John Hennessy called the record donations "a tremendous vote of confidence in our outstanding faculty and students.
"They help to make possible potentially game-changing research breakthroughs as well as deepen the quality of our medical clinical programs and support greatly needed improvements in our hospital."
The gift totals do not reflect an additional $1.2 billion Stanford received last year in "sponsored research" from the federal and state governments and some private funds.
— Palo Alto Weekly staff
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