According to the "Voluntary Support of Education" survey conducted by the Council for Aid to Education, donations to colleges and universities leveled off nationally in the 2003 fiscal year. University officials, however, report record-breaking increases in private contributions.
According to the survey, 2003 private contributions to higher education institutions totaled $23.9 billion, matching the 2002 level.
In a press release issued by the Council, survey director Ann E. Kaplan expressed relief in the flattening of contributions -- as contributions dropped in 2002 from 2001's peak of $24.2 billion.
"Overall these results are positive news for colleges and universities because the downturn in giving to higher education did not persist," Kaplan said in the release. "But the future is still uncertain."
Harvard University topped the survey's list of "deferred gifts at face value," totaling $555.7 million last year, followed by Stanford University, the University of Pennsylvania, the University of Arkansas and Johns Hopkins University.
The University of Virginia is ranked 14th among all institutions of higher education with contributions totaling $261.9 million.
The University also is ranked sixth among doctoral public research institutions, and first among all institutions in the commonwealth. Virginia Tech was ranked a distant second with a donation total of $54.3 million.
University spokesperson Carol Wood said University officials are pleased with alumni contributions in 2003.
"Everyone would credit our incredible alumni, parents and friends for their outstanding commitment to the University and have helped us to move forward with many new initiatives that have allowed us to achieve long-range University goals," Wood said. "The [donation] rankings clearly acknowledge the work of every member in the University community in helping to raise donor support of $261.9 million in 2003."
Wood also added that the University has broken fundraising records in three of the past four years, maintaining a spot in the top echelon of universities nationally.
University President John T. Casteen, III "has credited the unprecedented level of private support, for upholding the University's national standing in the time of severe reductions in state revenues," Wood said.
University Vice President for Finance Yoke San L. Reynolds cautioned that the increasing contributions have helped ease funding shortfalls from Richmond, but cannot completely replace the lost funding as a result of state budget cuts.
"Private giving has certainly helped to ameliorate some of the shortfalls in funding caused by the reductions in state funding," Reynolds said. "However, most private gifts are made for specific purposes. These restricted gifts cannot be used to replace unrestricted state funding. The endowment is growing, but donors just don't give you $10 million and say, 'Use as you see fit.'"
The Council is a nonprofit organization that conducts research on higher education. According to its Web site, the survey is voluntarily responded to by nearly a quarter of all colleges and universities nationwide, encapsulating about 85 percent of the total voluntary support.
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