UCLA receives $512 million in record-breaking fundraising year
Aug. 26, 2013 1:40 a.m.
UCLA received its largest amount of donations ever last fiscal year, with $512 million in gifts and pledges from more than 57,900 donors.
UCLA’s previous fundraising record – $509 million – was set more than 10 years ago in 2001-2002, according to a university press release.
The spike in funding is due in part to a $100 million donation from David Geffen, an entertainment executive, to create the David Geffen Scholarship Fund at UCLA’s David Geffen School of Medicine. The scholarship fund pays for the education of some of UCLA’s medical students and is aimed at helping them graduate from medical school without debt.
This year, the university obtained $18.8 million in unrestricted donations, which is 16 percent more than it did in 2011-2012. These donations allow UCLA officials to decide how to use and distribute funds, giving them more flexibility than more specifically directed gifts do.
“Our alumni and friends step forward time and again to support UCLA’s leadership and mission,” said Steve Gamer, executive director of The UCLA Foundation. “This year’s gifts – both large and small – demonstrate their continued confidence in and commitment to UCLA.”
Compiled by Amanda Schallert, Bruin senior staff.