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CSUS releases accounting summary of record-breaking fundraiser that included guest speaker Sarah Palin
California State University Stanislaus today released an accounting summary of the 50th Anniversary Fundraising Gala, hosted by the University Foundation on June 25 and included guest of honor and keynote speaker Sara Palin. Total fundraising surpassed expectations by raising more than $473,000, with net proceeds of over $207,000, making it the most successful fundraiser held in CSU Stanislaus history.
Dr. Ham Shirvani, President of CSU Stanislaus, praised the Foundation for its aggressive and successful fundraising efforts.
CSU Stanislaus held a press conference just prior to the gala where Foundation President Matt Swanson and CSUS President Hamid Shirvani initially reported the event would have a fundraised total with in-king gifts totaling over $200,000 net profit. It was announced that one-third of the money raised would immediately go toward scholarships while the rest would be carefully considered by the Board as the university has many needs at this time.
CSUS President Hamid Shirvani announced a change in that funding plan today.
“Thanks to the Foundation’s generosity and fundraising, our 50th Anniversary Fundraising Gala was a huge success,” Shirvani said. “I am excited to report that based upon my request, the Foundation has agreed to allocate all of the net proceeds for scholarships, helping us give students peace of mind so they can focus on their academic achievements.”
Shirvani continued, “During these difficult economic times, I am especially proud that we have received an unprecedented level of private support to celebrate 50 years of academic excellence and to help us continue providing hardworking students access to higher education."
“We must support our students and foster their success through fundraising events like these. CSU Stanislaus’ ability to provide access to a quality education, inspire life-long learning in the work place, support economic growth, and meet the growing demand for college graduates depends on adequate financial resources, including private support. I applaud the Foundation for its hard work and thank the University’s supporters for their dedication to higher education.”
The CSU Stanislaus Foundation’s final accounting summary of the 50th Anniversary Fundraising Gala is shown below.
REVENUES:
Sponsorships, tables, donations, tickets & in‐kind gifts
TOTAL REVENUE – 473,035.00
EXPENSES:
Off Campus Providers
Catering 30,338.84
Entertainment & program (1) 80,084.96
Printing, materials & postage 11,637.06
Processing fees & valet 3,567.14
Event décor 42,564.49
Reimbursements to University
Facilities rent & services 5,470.00
Security (2) 33,616.92
Insurance, printing & other 1,159.36
TOTAL CASH EXPENSE – 208,438.77
Less In‐Kind Gifts 57,297.22
NET INCOME 207,299.01
Footnotes:
(1) This category includes expenditures for guest speaker fees ($75,000), guest speaker local travel & accommodations ($2,500), musicians ($1,800), equipment rental ($750), Miscellaneous ($35)
(2) Includes the cost of security fencing provided by an outside contractor at a cost of $2,282; and cost estimates for security services provided by the ci5es of Turlock and Modesto police departments.