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Record Private Donations Reflect Optimism about YSU
YOUNGSTOWN, Ohio -- Seven gifts accounted for nearly two-thirds of the $10.4 million Youngstown State University raised in its fiscal 2013, President Cynthia Anderson and Scott Evans, vice president for university advancement, said Monday.
The university held a press event to announce that as of June 19, 4,587 donors had pledged or contributed $10,388,380 since last July 1, a record, and three times the sum contributed in fiscal 2012. The YSU fiscal year runs July 1 to June 30.
The nearly $10.4 million surpasses the old mark of $6.4 million set in fiscal 2007.
Evans attributed much of the generosity to “the respect and admiration” many feel for Anderson, who retires June 30. Afterward he said that alumni hold a special affection for YSU and want to return something for how well the university prepared them for their careers. An improving economy and a sense that the Mahoning Valley is on the rebound also helped.
The generosity shown YSU is all the more remarkable in light of reports that charitable giving has been on the decline of late, Evans said, citing a news report from last week.
Whether it was an unidentified teacher in Warren who has given $50 a year the last 20 years to the $1.375 million for the College of Creative Arts and Communication from E. Wayne Cliffe, now living in California, YSU holds a special place in the hearts of its graduates. ”We’re grateful for every gift,” he said.
Breaking down the year’s fundraising, 54% or $5,581,840 was directed to scholarships, 34% or $3,562,171, to colleges, academic programs, athletics and other purposes, and 12% or $1,244,369 was restricted to capital projects.
The university has in its treasury less than half the grand sum of the gifts committed, Evans said. Most major donors will fill their commitments over five years, in at last one case 10. And some won’t fill their commitments until they die and their estates are settled.
None of the $10.4 million will be used to fund a new academic program or other project. “All will be used to enhance existing programs,” he said.
Evans also announced that this fall YSU’s annual fund will be renamed the YSU Fund.
The other six major gifts made during fiscal 2013 are:
- $1.2 million from the James and Coralie Cenofante Charitable Foundation to establish a new center of health and welfare for “vulnerable populations” and provide support for the YSU Veterans Resource Center capital project.
- $1.1 million from alumnus James Hodgson and his wife, Patricia, now living in South Carolina, for scholarships.
- $1 million from alumnus Walter Healey and his wife, Mary, for campus beautification.
- $800,000 from an anonymous donor for scholarships.
- $525,000 from the Katherine and Andrew Kartalis, now living in Cleveland, for scholarships and the Veterans Resource Center.
- $500,000 from Farmers National Bank to establish a field named for the bank at the new sports complex west of Fifth Avenue.
MORE from YSU News Service:
YSU Fundraising Reaches Record High for Fiscal Year
Copyright 2013 The Business Journal, Youngstown, Ohio.
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