Stanford breaks fundraising records

Stanford University announced a record year of fundraising Wednesday, with an unprecedented $1.035 billion in gift support donated during the 2011-12 fiscal year by nearly 79,000 donors, another record for the University.

“Their gifts keep Stanford accessible to the brightest students and ensure a breadth of opportunities – inside and outside the classroom – in world-class facilities for living and learning,” said President John Hennessy in a prepared statement.

The 2011-12 sum, a 45.9 percent increase over the preceding fiscal year and 13.6 percent larger than the University’s previous record of $911.2 million during the fiscal year 2005-06, reflects in part the final months of The Stanford Challenge – which raised $6.2 billion over five years – and the May launch of the Campaign for Stanford Medicine, a $1 billion initiative that will include funding for the construction of a new hospital.

Funds raised during the year will be allocated across a range of priorities, including $304.3 million in support of research and other programs, $102.1 million for construction and maintenance of facilities and $70.8 million for student support. A $100 million gift by Robert King MBA ’60 and his wife Dorothy King also established the Stanford Institute for Innovation in Developing Economies.

Stanford’s permanent endowment grew by more than $300 million during the year through gifts, while the total philanthropic activity – including pledges yet to be fulfilled as well as gifts and pledges received – totaled $1.2 billion.

“I am extremely gratified and a little awed by their overwhelming level of support,” Hennessy said of Stanford’s donors. “It is a tremendous vote of confidence in our outstanding faculty and students.”

About Marshall Watkins

Marshall Watkins is the executive editor of The Stanford Daily, having previously worked as an opinions columnist, the summer managing editor, the managing editor of news, a news desk editor and a news and sports writer. He is a junior from London majoring in economics, and can be reached at mtwatkins@stanford.edu.