The Class of 2007 has raised over $1.75 million for their class gift after receiving large individual donations from a small number of students within the class.
Only a month into the school year, this figure has already broken the monetary record for class gifts, previously held by the Class of 2005, which raised $340,386.
While the amount is an important achievement, Class of 2007 President Ross Baird says participation matters even more.
"The percentage of students who participate is much more important than the amount of money raised," Baird said.
According to Baird, the Class of 2007 has set a goal to receive donations from at least 75 percent of students within the class. If they achieve this goal, it would break the current record of 65 percent student participation, currently held by the Class of 2004.
Baird declined to comment on the large gifts donated by two individuals, which, combined, totaled over $1.2 million, saying that the class gift campaign had not been going on long enough to merit remarks on the amount of money raised.
Individual high-end gifts are often given jointly with the family of the student, but sometimes are donated completely from the student's personal resources.
Baird said he believes the majority of students who decide not to donate to the class gift do so because they do not know where their money is going or how the class gift system works.
"Most people, once they find out what the class gift is for, are very willing to give," Baird said.
The class gift system does not raise money for one specific gift but is, rather, an avenue for students to donate money to organizations, teams, fraternities, sororities or other groups at the University in which those particular students participated during their time at the University.
"More often than not, the majority of class donations go to one of the six undergraduate schools," Director of Alumni Affairs Wayne Cozart said.
According to Cozart, when these gifts are made to a particular group or department at the University, the money is transferred directly from the student to that area's particular account. If no account exists, the money is held in the University fund, a non-profit account, until the end of the school year, at which point a check is cut and given to a suitable representative of that group or department.
Baird added that monetary gifts from students are crucial to the future success and operation of University programs.
"It's our goal to have everyone in our class participate in University life after they graduate," Baird said. "Participating in class giving is the first step because it helps the students who come after us.
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