Trustees issue Annual Fund Challenge
J.P. Welch, '11
Issue date: 3/25/09 Section: News
Through several other letters to the W&L community this year, Ruscio has continually updated students, parents, alumni, and friends on the impact that the economic crisis has had on the University. In a March letter, he revealed that projections indicate a "$10 million revenue shortfall for 2009-10. This shortfall is due to the decline in the market value of the endowment (an 18.5 percent decline through January), a drop in the level of private support and the lower short-term interest rates."
Despite this, he says W&L has been quite lucky compared to many of its peer institutions. This is in part due to the gifts and donations of alumni who have historically played a large role in providing the University with funding.
Alumni who have given in the past have sought to share their attitude and reasons for doing so with others by posting their stories on the W&L website.
Andy McCutcheon, '48, said that he has encouraged his classmates to give by citing the "usual" selling points: How annual fund dollars reduce tuition costs, support campus maintenance, and keep the best professors at the University. Even so, he said, "I suspect…that most of us give for a more fundamental reason: we know that from W&L came a philosophy of unselfishness we have carried forward in our lives."
That selfless philosophy will certainly be tested this year.
Despite this, he says W&L has been quite lucky compared to many of its peer institutions. This is in part due to the gifts and donations of alumni who have historically played a large role in providing the University with funding.
Alumni who have given in the past have sought to share their attitude and reasons for doing so with others by posting their stories on the W&L website.
Andy McCutcheon, '48, said that he has encouraged his classmates to give by citing the "usual" selling points: How annual fund dollars reduce tuition costs, support campus maintenance, and keep the best professors at the University. Even so, he said, "I suspect…that most of us give for a more fundamental reason: we know that from W&L came a philosophy of unselfishness we have carried forward in our lives."
That selfless philosophy will certainly be tested this year.
Viewing Comments 1 - 3 of 3
research paper
posted 12/06/09 @ 4:23 PM EST
"Generosity of Alumni Continues in Recession" is very informative.
Research Service
posted 12/10/09 @ 10:37 AM EST
I agree that making a gift to the University now, in the midst of a global economic crisis and in the face of an uncertain future for higher education, is a strong affirmation of the core values that W&L seeks to instill in its students. (Continued…)
women seeking men
posted 4/02/10 @ 9:28 PM EST
Thank you for writing the article, I am very pleased with how it came out.
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