News

College of Charleston Raises More than $20 Million for Third Year in a Row

Published

1 year ago

August 1, 2023

By: CofC Media

The College of Charleston Institutional Advancement team raised $20.6 million in gifts and commitments in fiscal year 2023 (FY23), continuing the trend that began during the COVID-19 pandemic.

“Our passionate alumni, parents, faculty, staff, students and friends continue to support our mission to develop ethically centered, intellectually versatile and globally fluent citizens who create innovative solutions to social, economic and environmental challenges,” says College of Charleston President Andrew T. Hsu. “Thanks to our donors’ generosity, we have surpassed our goal of raising $20 million for the third year in a row.”

Achieved through the 9,249 donors who chose to support the College in FY23:

Endowments increased by 26, adding to our existing 657 endowed funds
Scholarships received an influx of $5,427,044 including 30 new scholarships
Athletics raised nearly $7 million in gifts toward facility upgrades and student-athlete scholarships and support
Corporations and foundations contributed more than one-third of the College’s total gifts

Of our 9,249 donors:

Alumni donors accounted for 5,016, representing 54% of the total FY23 donors
Student donors totaled 1,516, representing 16% of the FY23 donor base
The 2023 graduating class had 683 donors, representing 51% of the class

Scholarships, which passed the $5 million mark, remain the university’s highest philanthropic priority. The 1,429 scholarships awarded allow students to focus on their studies without financial stress. It also gives students greater flexibility when considering experiential learning opportunities such as internships and study abroad.

The university also broke ground on the Founders Federal Baseball Performance Center and the Turner Tennis Center, which are part of the Patriots Point Athletics Complex. Both centers will vastly improve the facilities at Patriots Point and help attract top student-athletes.

A focus on increased engagement also generated more support and excitement for the College, with CofC alumni reconnecting with one another over Fall and Spring Alumni Weekends and at CofC Club events in more than 30 cities across the country and around the globe.

“We are committed to developing a new culture of engagement and philanthropy at the College — one that begins the moment our students are welcomed into Cougar Nation and accounts for the thousands of generous alumni, parents, friends and students each year,” says Dan Frezza, chief advancement officer. “It is remarkable what a unified university can accomplish through with the power of philanthropy, and we and our students owe great gratitude to the 9,249 donors that answered the call to make this place better for this generation, the next and those that will surely follow.”

“The generosity of our donors demonstrates how committed people are to the College and the future of our students,” adds Hsu. “We are grateful for the outpouring of support over the last fiscal year and look forward to a successful 2023-24 academic year, with our record incoming first-year class. Our ongoing success depends on the continued philanthropic support from our donors and from new supporters of the College.”