As the University's Capital Campaign increasingly relies on private donations, a recent study shows that other schools are also increasingly benefiting more from private donations.
According to a survey conducted by the Chronicle of Philanthropy on the 60 most generous Americans, colleges and universities received more gifts from the top donors in 2006 than any other types of institution in America, as reported in an article by the Chronicle of Higher Education.
Colleges received 34 gifts from the top donors while the next largest group, foundations, were given 28 gifts, according to the Chronicle.
The University's Capital Campaign is heavily dependent on such large independent contributions, including John Tudor Jones' gift of $35 million given last year for the new arena, said Bob Sweeney, senior vice president for development and public affairs.
"We anticipate in our campaign that we will need 133 gifts of over $5 million of principal gifts to become one of the truly elite universities in America," Sweeney said.
The Campaign, which has a goal of raising three billion dollars by Dec. 31, 2011, has currently raised around $1.3 billion, according to Sweeney.
Sweeney said the campaign's major emphasis is on seeking donations from top donors, with 65 percent of contributions to the University coming from individuals and the other 35 percent coming from corporations.
The Chronicle's survey also revealed that schools on the West Coast received the majority of the gifts given by the top donors, due to the high number of contributors that live there.
The University has sought funds from all over the U.S., including the West Coast, "as well as about 15 foreign cities where we have found support," University President John T. Casteen, III said in an e-mail.
According to Sweeney, most of the University's benefactors come from the East Coast. New York, Richmond and Charlottesville are the largest sources of support.
"Much of the philanthropy comes from the alumni but certainly not all of it," said Capital Campaign Chair Gordon F. Rainey. "Parents frequently are the source of generous gifts because of their children's positive experience at the University."
Donations come to the campaign with a variety of purposes, including improving the health system, funding major building construction such as the South Lawn Project and supporting individual schools, Sweeney said.
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