Newswise — August 29, 2011 — In a challenging national economic climate, the University of Virginia's College of Arts & Sciences received $41.7 million in new private fundraising commitments during fiscal year 2010-11, a 49 percent improvement from the previous year.
"We are immensely fortunate to have an alumni base that includes donors who are generous with both their time and resources," said Eugene Schutt, the College's associate dean for development. "They have responded very enthusiastically to the leadership of Dean Meredith Woo, who is really the starting point for all of this. She has provided the vision, and the College community has responded."
The total includes $7.6 million in annual giving; $17 million in endowment, capital and major current-use gifts; and $17.1 million in bequests. The number of alumni donors rose by 16.5 percent during the past fiscal year, and much of that was due to increased participation from younger alumni.
"That's a very encouraging sign," Schutt said. "I think there is a growing awareness of the importance of young alumni to the future of the University. During the year, we conducted a coordinated communication effort and offered an increase in the ways young alumni can re-engage."
As an example, Schutt pointed to a series of career panels in which 56 alumni came back to the College and met with approximately 300 undergraduate students in panels organized into nine industry groups.
"This was a triple win, because it was meaningful to the undergraduates who attended, meaningful to the alumni who came back to participate, and meaningful to the College as a way to re-engage with alumni," Schutt said.
Nationally, giving totals grew by only 3.8 percent in 2010, following a drop of 6.5 percent in 2009, according to Giving USA, an organization that tracks national charitable giving.
"The volatility in the financial markets remains a worry," Schutt said. "Very understandably, it causes people to be conservative about their philanthropic decisions. We believe that this will normalize over time, and that in due course the time will be right for many more people to give."
Schutt attributed the fundraising increase in part to donor loyalty, but also to a belief in the leadership and strategic vision of Dean Woo. Considerable efforts by the College Foundation, an organization of 41 alumni who serve as board members and trustees, had a material impact on the year’s success.
"None of the big things we've accomplished would have been possible without the support of the College Foundation," Schutt said. "Looking forward, the Foundation is adjusting its focus to make sure we emphasize support for our human capital, specifically our faculty. We intend to make sure that we have enough faculty, properly compensated and properly equipped, to deliver the student experience that our students deserve and expect."
The College has set an ambitious development goal of $60 million for fiscal year 2011-12, which would constitute another nearly 50 percent increase. Early fundraising results from July have been encouraging, Schutt said.
During July, Arts & Sciences Development, in cooperation with colleagues in the University’s central development office, booked nearly $12 million in expectancies and realized bequests.
"The College experience has had a lifelong impact on so many of my fellow alumni," said Schutt, who graduated in 1975 with a degree in economics. "It's always a wonderful experience to come back here. Supporting a place that had such an influence on one's life, and sustaining it for others, just seems to be the honorable thing to do."
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