Fundraising tops $5 million in 2009-10
- August 2, 2010
The University of Possibilities campaign, the first comprehensive campaign in Cal State East Bay's history, significantly increased annual private support for the university in 2009-10, including gifts and pledges for scholarships, college pathway programs and faculty excellence.
The amount raised since July 2009 — $5.1 million — represents an 83 percent increase over the previous fiscal year's fundraising, according to Bob Burt, vice president of University Advancement. "Reaching $5 million was a big milestone, but it's only the first of many," he said.
"We hope to see this kind of growth in fundraising activities each year of the campaign," he added. The campaign began its leadership phase in July 2009 and is expected to run seven to eight years.
Chevron Corp. made the largest corporate gift to the university and the campaign, pledging $1.5 million to expand the Mathematics Achievement Academies. Headquartered in San Ramon, with a refinery in Richmond, Chevron has strong connections to the region and state; the investment was made through the company's California Partnership Initiative.
Several other programs, including the math academies, also received corporate support, which is a key goal for the campaign's early leadership phase, according to Anne Harris, associate vice president for development and campaign director.
"The fact that so many companies see the benefit of partnering with Cal State East Bay to serve our communities demonstrates the power of the university's regional stewardship commitment, which is central to this campaign," she said. "They recognize how important it is that the workforce of tomorrow have access to quality higher education." Harris joined University Advancement in April, after serving as director of campaign and donor relations at Cal Poly San Luis Obispo.
The largest gift from a private individual was a $1 million commitment from trustee Jack Acosta '75, MBA '78 and his wife Susan — generous supporters of Cal State East Bay who also made a significant contribution to the Valley Business and Technology fund. Their gift is designated for endowed professorships and scholarships in the College of Business and Economics.
Other major alumni gifts included commitments from Lou Miramontes '76 for scholarships in business and accounting; and Rich Sherratt '70, who provided the first endowment for Pioneer Athletics scholarships.
Nearly half a million dollars was given in amounts of less than $10,000, growth of 5 percent over the previous year. Many of those gifts were to the College, Department and Program Leadership Funds, which allow donors to direct gifts to specific areas of the university, said Trish Davenport, director of annual giving and special gifts.
"These leadership funds allow donors to give in a way that's meaningful to them," Davenport said. Increasing these smaller donations from alumni and friends, she added, is one of the objectives for the later "public phase" of the campaign.
The university also received $350,000 in testamentary commitments. Bequests in wills or estate plans can include stock, real estate, charitable gift annuities or other financial options. Anthony Macias, director of planned gifts, said these commitments allow friends of the university to leave a legacy for future students.
The University of Possibilities campaign priorities include support for academic distinction, increased access, student success, new opportunities, and a plan to triple the university's endowment. During the campaign, all gifts to the university, including those for ongoing support that does not fall within the campaign's priorities, will be counted toward the overall campaign total.