Private donor support to the University reached an all-time high of $261.9 million for the now-ended 2002-2003 fiscal year, up 2.7 percent from the previous year.
The largest source of donations was individual giving, with corporations, foundations and other organizations donating nearly a third of the total.
Among the money raised last fiscal year was a $64 million gift from the estate of David A. Harrison, III, which endowed professorships in law and medicine.
Vice President for Development Robert Sweeney credited University President John T. Casteen, III and the deans for engaging and involving alumni, parents and friends who donate, and cited the continued momentum of the 1993-2000 fundraising campaign.
Since Sweeney's arrival in 1992, private contributions have grown by over 400 percent.
"It all depends on the kinds of big gifts we get," said Sweeney, who noted, however, that the 51,000 individual donors who participate in annual giving programs provided $34.2 million last year for current operations in various schools and departments.
The record giving has pushed the amount of private donations to more than double the amount the University receives from state appropriations, though private gifts usually are restricted to one school or department, according to Sweeney.
Many of the large gifts also are earmarked for specific building projects, such as the Children's Medical Center.
Alumni Association Executive Director John Syer said that while his association's primary goal is to satisfy the needs of alumni, an almost-complete $2 million endowment for the Honor system and fundraising for the Jefferson Scholars program and minority scholarships are among its recent contributions.
Syer called the donation record "remarkable, given where the economy generally is," and noted the positive reflection on the University alumni's disposition toward the University.
The impact of increased private contributions is noticeable throughout the University.
Tom Connors, vice president for development of the Engineering School, said the Virginia Engineering Foundation had a good year as well. A recent corporate gift from two Engineering and Darden graduates' company has endowed a business minor for engineering students.
In the College, Economics Dept. Chair David E. Mills credited a large number of modest gifts for supporting graduate students, improving undergraduate programs and allowing the department to replace "decrepit furniture."
Anthropology Dept. Chair Ellen Contini-Morava said that while the increase in donor support did not provide a dramatic boost to her department's resources, it helps "maintain the quality of our courses."
Read More
Virginia Attorney General Speaks On Free Speech And Criminal Justice Reform
By Vyshnavi Tatta | YesterdayMiyares said pursuing repeat criminal offenders is a more crucial step in reducing crime, saying that studies show a small percentage of criminals commit a majority of crimes.
Student Council passes summer budget, bill supporting allergy policy reform
By Arshiya Pant | YesterdayThe biggest expenditure categories outlined in the summer 2024 budget were CIO Consultant funds and Support and Access Services, respectively receiving $67,000 and $65,950.
New Vice President of Research Lori McMahon aims to work towards U.Va.’s 2030 plan
By Caroline Hagood | YesterdayMcMahon said she was drawn to the University after reading the University's 2030 plan and that she was inspired by the vision of President Jim Ryan and other University leaders.
