(Bloomberg) -- The University of California system brought in more than $3 billion in private donations during the last fiscal year, said Nathan Brostrom, its chief financial officer.
Philanthropic donations to the university totaled $3.4 billion last year, Brostrom said. Some of that giving will be going to the system’s medical centers, he said.
“We’ve seen a very, very strong year in fundraising across all 10 of the campuses,” he said at the Bond Buyer’s California Public Finance Conference, noting that the figures will be reported at the school’s next Board of Regents meeting.
In an effort to close a budget gap, California state legislators agreed to cut funding for the University of California and California State University systems’ earlier this year. Consequently, the University of California committed to increasing support from other resources.
Private support for the University of California has accelerated in recent years. The system raised over $3 billion in private donations for the first time in 2021-2022, according to reports posted to the system’s website.
The UC system includes 10 campuses, 6 academic health centers and 3 national laboratories with total enrollment of almost 300,000 students.
--With assistance from Sarah McGregor.
(Updates with details of UC system in final paragraph. An earlier version corrected the amount of donations in headline and body of story after source clarified the figures.)
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