Compared to its peer public institutes of higher education, the University "dominates" the world of fundraising, according to Bob Sweeney, senior vice president for development and public affairs. Plenty of room for expansion in this field still exists, though, as the University wishes to go toe-to-toe with elite private colleges and universities.
"If you compare us to any public university ... per student, adjusting for size ... we would be number one or two in the nation," Sweeney said.
Sweeney noted, however, that while this is impressive for the University as a public institution, continued fundraising efforts need to be made for the University to compete with privately funded institutions. These privately funded institutions, according to Sweeney -- which include schools such as Duke, Georgetown, the University of Chicago and the Ivy League schools -- are the University's main academic competitors and are still ahead of the University in regards to fundraising efforts that allow for faculty recruitment, increased opportunities and diverse growth.
"We are competitive, but not one of the leaders," Sweeney said concerning the University's ability to compete with the leading private schools across the country.
The strength of fundraising programs is a primary factor setting many of the top-tier schools apart, Sweeney explained.
"These are the finest schools in the country, with some of the finest philanthropy," Sweeney said, later adding that "we still have a ways to go."
Private schools such as these, Sweeney noted, have more sophisticated and developed programs and have been using "aggressive" fund-raising strategies for more than a century. In the future, the University will strive to build off these successful models and also develop new ones, Sweeney said, so as to make significant strides in the fundraising arena and to better compete with top schools.
Alumni contributions are one significant source of funding in need of expansion, Sweeney said, noting that the University's annual alumni giving, while respectable, could be further developed.
According to Brian Johnson, 2002 College graduate and president of the Alumni Council's Young Alumni Council, about 26 percent of alumni give to the University.
"We compete well with public universities ... but we are moving into a new competition with elite privates, [and they] traditionally have higher alumni giving," Johnson said.
Part of the problem affecting the amount and number of alumni donations, according to Johnson, is the fact that many people think that, as the University is a public institution, the school is automatically well-funded by the commonwealth. This, however, is not always the case, Johnson said, noting that the Virginia General Assembly's monetary contribution to the University constitutes a very small portion of available funds.
It should be made clear to alumni and students alike that "we need the giving," Johnson said.
Alumni giving affects the University in many ways, according to Johnson, who noted, for example, that increased alumni giving rates can result in a higher U.S. News & World Report ranking for the University.
To increase annual giving, Sweeney said, the University will hold an alumni "crowdsourcing contest" to develop a new fundraising campaign. This, according to Sweeney, will give alumni a chance to design a campaign that better targets the younger alumni demographic.
"Who would be better to tell us how to approach and reach them than themselves?" Sweeney said.
Sweeney said the impetus for his contest lies in the world of technology, where developers frequently use crowdsourcing to access innovative, previously unthought-of ideas.
"It'll be spectacular," Sweeney said. "Or a spectacular failure."
University representatives, according to Sweeney, will be working with members of the Alumni Association to host the contest, which will launch in the next few weeks.
The contest, titled "Challenge to Change," seeks to exploit modern forms of communication, such as YouTube and Facebook, Sweeney added.
Johnson said "the contest will run for around two months, and the five finalists will present their ideas to a panel of judges."
The winning idea, Johnson said, will debut as a test run in the next fiscal year. All alumni, he added, are welcome to submit proposals.
As an additional incentive for creative alumni, Sweeney said, an AccessUVa scholarship will be named in the honor of the contest winner.
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