CSUN receives $21.5 million in charitable donations: CSU Chancellor’s Office

David Nazarian, left, with his wife Angella Nazarian, right, donated $10 million to the College of Business and Economics, which CSUN named the college in dedication for his generous support, at a naming ceremony on March 27, 2014. (Photo Credit: David J. Hawkins/The Sundial)
David Nazarian, left, with his wife Angella Nazarian, right, has donated $10 million to the College of Business and Economics which CSUN has now named the college in dedication for his generous support at the naming ceremony on Thursday, March 27, 2014 in Cleary Court in front of Juniper Hall in Northridge, Calif. (Photo Credit: David J. Hawkins/PhotoEditor)
David Nazarian, left, with his wife Angella Nazarian, right, donated $10 million to the College of Business and Economics, which CSUN named the college in dedication for his generous support, at a naming ceremony on March 27, 2014. (Photo Credit: David J. Hawkins/The Sundial)

The California State University System received a record $459.9 million in charitable gift commitments this past year, with CSUN receiving over $21.5 million, according to the CSU Office of the Chancellor.

Although the data is preliminary – final date will be available in January – the office of the chancellor reports a 36 percent increase in gift commitments from the previous year. The amount marks a nearly 200 percent increase in donations to CSU campuses since 2009-2010, when the CSU received $265 million in donations.

“We are incredibly thankful for the unmatched generosity of our donors and partners,” said Garrett P. Ashley, vice chancellor of University Relations and Advancement, in a statement. “Funds donated to the CSU by our alumni, and community and business partners are investments in the future of our state and ensure that students can receive a high-quality and transformative education that prepares them to meet California’s economic and societal needs.”

Gift commitments include gift receipts generated during the year, as well as multi-year pledges and promised future commitments, such as amounts promised in wills or trusts. Donations made to CSUN included over $13 million in gift receipts, which represent cash, securities and irrevocable future commitments.

Back in March, CSUN alumnus David Nazarian made a $10 million cash donation to his alma mater and pledged to lead a $25 million fundraising effort.

CSUN’s School of Business and Economics was named after Nazarian following the announcement.

Over 8,000 individual donors made contributions to CSUN, resulting in over $3.6 million in donations from alumni, parents and other individuals.

Organizations, such as foundations and corporations, donated over $9.6 million to the school.

Graphic by By Alik Ourfalian.
Graphic by By Alik Ourfalian.