Campaign for the Colleges came to a successful close on May 31, 2012. In total, the Colleges raised more than $205 million for the endowment, buildings and renovations, technology initiatives, academic and student support, scholarships and many other campus projects and programs. Now, a highly prioritized set of initiatives has been articulated to propel the Colleges beyond the great successes and momentum of the Campaign.
On an annual basis, the cost of providing this excellent education exceeds revenues primarily derived from tuition. Annual Fund dollars raised each year provide important resources to operate the institution and give flexibility to maximize unforeseen opportunities during the fiscal year. Given the overall strength of the institution and the continued success of our graduates, we expect to increase funds raised each year to the $4 million mark. This aggressive initiative directed to alumni, alumnae, faculty, staff, parents and friends will seek increased participation as well as increased dollar commitments.
In order to ensure the continued success and fiscal stability of the Colleges well into the future, President Gearan and the Board of Trustees are in agreement that increasing the endowment is an institutional priority. These funds support student scholarships and internships, academic research, faculty chairs, building endowment and other programs that enable our students to experience a powerful liberal arts education suited for the 21st Century.
During Campaign the Colleges, $20+ million in commitments were raised toward the $28 million goal for the Performing Arts Center – three times more than has been raised for any single project in the Colleges’ history. Given the important academic programming this Center will support, an immediate priority is to complete the funding for this project.
Together we are opening worlds for a new generation of students who will go on to lead lives of consequence. Previous generations have built the foundation of the Colleges, and we look now to loyal alums, parents and friends to invest in the Colleges as a part of their long-term financial plans. Planned giving vehicles help individuals and families provide for loved ones while making significant gifts to the Colleges in support of specific projects or general support of the endowment.