Trustees issue Annual Fund Challenge
J.P. Welch, '11
Issue date: 3/25/09 Section: News
In a time of economic recession, giving away money is simply harder to do. That is why Washington & Lee's Board of Trustees has issued the Annual Fund Challenge.
About 8 percent of the University's budget comes from the Annual Fund. The money is used for anything and everything, including equipment for computer and science labs, increasing the library collection, and maintaining the grounds and services on campus. Because the fund is so important to daily life at W&L, the Board of Trustees said it will match every dollar contribution to the fund. The goal is to raise $6.9 million by June 30.
The Board also said that if half of W&L alumni make a contribution, trustees will add another $50,000 to the fund. Last year, only 46% of alumni gave to the fund, so this year's goal is ambitious.
In an article entitled, "Generosity of Alumni Continues in Recession," The Richmond Times-Dispatch reported in December that 62% of the $6.8 million raised last year came from 730 donors who gave $2,500 or more. However, even a small donation has consequences. Businesses and corporations considering making a donation to the University look at percentages of parents and alumni who have done the same. A gift of any amount encourages these other potential donors to give.
In a letter to alumni, President Ruscio wrote, "Supporting the Annual Fund is the most crucial thing we alumni do to make sure today's students receive an education every bit as good as we received. Do not underestimate the role your support plays."
In fact, Ruscio said that the Annual Fund will play a greater role in preserving the school than ever before, particularly "in the face of financial losses and a [significant] endowment reduction." He said 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.
About 8 percent of the University's budget comes from the Annual Fund. The money is used for anything and everything, including equipment for computer and science labs, increasing the library collection, and maintaining the grounds and services on campus. Because the fund is so important to daily life at W&L, the Board of Trustees said it will match every dollar contribution to the fund. The goal is to raise $6.9 million by June 30.
The Board also said that if half of W&L alumni make a contribution, trustees will add another $50,000 to the fund. Last year, only 46% of alumni gave to the fund, so this year's goal is ambitious.
In an article entitled, "Generosity of Alumni Continues in Recession," The Richmond Times-Dispatch reported in December that 62% of the $6.8 million raised last year came from 730 donors who gave $2,500 or more. However, even a small donation has consequences. Businesses and corporations considering making a donation to the University look at percentages of parents and alumni who have done the same. A gift of any amount encourages these other potential donors to give.
In a letter to alumni, President Ruscio wrote, "Supporting the Annual Fund is the most crucial thing we alumni do to make sure today's students receive an education every bit as good as we received. Do not underestimate the role your support plays."
In fact, Ruscio said that the Annual Fund will play a greater role in preserving the school than ever before, particularly "in the face of financial losses and a [significant] endowment reduction." He said 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.
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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…)
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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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