"To raise more money last fiscal year than in any prior year in William & Mary's long history is quite remarkable, especially amid the worst economic downtown since the Depression and during a time when we were not in a campaign," said President Taylor Reveley. "It reflects a powerful commitment to the College on the part of its alumni and friends, as well as very hard work by our development people and alumni volunteers. This bodes well for the future."
Of the $50.8 million, the College received $20.9 million in annual funds; $19.8 million in endowment funding; $7.9 million for capital projects; and $2.1 million in gifts-in-kind. The overall total for fiscal 2009 represents a 40 percent increase from fiscal 2008, which was $35.3 million.
"Daily, we seek resources that support the ongoing development of the liberal arts experience-high-quality teaching, research and learning-at William & Mary," explained Sean Pieri, vice president for University Development. "Donors' commitments today ensure the success of the College tomorrow."
Of the funds raised $20.9 million represent annual gifts to help support otherwise unmet needs in the operating budget -from increasing financial aid in response to the growing needs of our students, to helping maintain facilities, to supporting academic programs.
"Annual giving is the key to keeping our operation running," said Pieri. "These dollars help fuel the operating budget and help move the College forward and enable it to prepare the brightest minds to make a difference in the world."
Other 2008-09 fundraising highlights are:
The BOV Gateway Challenge-a challenge to secure $10 million in endowment support for the need-based financial aid initiative Gateway William & Mary, including a $1 million match pledged by the William & Mary Board of Visitors.
The King's Ransom Challenge-a challenge aimed at increasing participation rates particularly among younger and new donors. The $100,000 challenge secured 684 gifts, meeting the $100,000 goal.
Record Senior Class Gift-76 percent of graduating seniors pledged $156,203.
Record year for Swem Library-with the receipt of more than $2.2 million in cash, $221,000 in gifts-in-kind (including books and collections), pledges and realized estate provisions totaling $2.7 million, the Library has secured more than $5.2 million-its best fundraising year.
Cohen Career Center-Sherman Cohen, a Manhattan real estate developer who attended the College in 1938, and his wife, Gloria, have committed $6 million to build a new career center at William & Mary. During fiscal 2009, $2 million of the $6 million was received and counted as part of the College's best-fundraising year for cash and assets.