Building on a Great Inheritance

To be good stewards of William and Mary’s great inheritance, the people of the College must keep pressing forward. Having a glorious history is a significant advantage in today’s competitive world. But past glory provides no substitute for present accomplishment.

William and Mary is rich with accomplishment these days. We teach, do research, and learn at a level of excellence that is matched on few other campuses. Our life outside the classroom is equally marvelous, from our playing fields to our service trips abroad.

William and Mary’s present excellence and future potential are seriously challenged, however, by our need to move to a new financial model as quickly and seamlessly as we can. We must go from a state-funded financial base to a privately funded financial base. While state support will remain important to the College, the taxpayers’ share of the College’s operating budget has declined radically in recent years. For all practical purposes, William and Mary has become a privately supported university that also receives some state assistance. This means that private gifts to the College — annual giving, endowment gifts, and funds for bricks and mortar — have become even more vital than in the past.

The College of William & Mary Foundation is crucial to building this vital private support. Although the Foundation’s work is complex, its mission is simple. Through a combination of fundraising and investment, it provides scholarships, professorships, research support, funds for new initiatives, financing for the renovation and construction of facilities, and unrestricted support of the operating budget. The Foundation does all this through current support and by building endowments to ensure a stable flow of funds for the long term.

This report for fiscal year 2008 tells the story of a few of the people and programs that make William and Mary exceptional. Behind them stand the alumni, friends, corporations and foundations that contribute so generously to the College. Together they are marvelously effective stewards in our time of William and Mary’s great inheritance.

W. Taylor Reveley III              
President                    
The College of William and Mary

L. Clifford Schroeder Sr., Hon. ’08
Chair, 2007–2009
The College of William & Mary Foundation