As fourth-year students begin their final semester today, the Class of 2009’s Leadership Council is continuing its push for financial gifts and pledges from soon-to-be-graduates, seeking donations of all sizes.
“We just want to get as many people to donate as possible,” Class Giving Co-Chair Kathy Feeney said, later adding, “the most appropriate time to give back to programs is right now.”
A common misperception among students, Feeney noted, is that the Trustees have a specific financial goal. Instead, she said, they hope to have at least 66 percent of the Class of 2009 donate.
Soon-to-be graduates are encouraged to give gifts of at least $10 through the Trustees’ Web site, although Mary Elizabeth Luzar, assistant director of reunions and class activities, said pledges and donations of any amount are accepted.
While University Fund Director Jennifer Bonenfant said the full amount of the donation goes to the University program or organization of the designee’s choice, she says processing class gifts costs the University about $12 per transaction. This money, she said, pays for overhead costs including staff time to enter the gifts, computer maintenance, technology, banking fees and other administrative expenses.
“It doesn’t mean that if you donate $25 to Madison House they are only getting $13,” Feeney said, explaining that administrative costs are not paid for by student donations.
Even if a student is only able to give $5, Bonenfant encouraged students to donate.
“There is value to giving any amount,” Bonenfant said, adding that some college-ranking publications such as U.S. News & World Report use annual alumni donation percentages as part of their rating systems.
For donors who want to help the University cut down on administrative costs for class gifts, Bonenfant encouraged contributors to be specific when giving to a non-contracted independent organization. Otherwise, tracking down the organization’s leadership can create extra administrative work.
“If you aren’t giving to a CIO, give as much contact information as possible,” Bonefant said.
Giving back, even if it is a small amount as a student or young alumnus, also starts an important tradition, Luzar said.
“It becomes a habit,” said Luzar, who is a 2002 University alumna and Class of 2002 Trustee.
Although fourth-year College student Andrew Patton said he will not be giving any money to the University this year because of financial constraints, he said it is a possibility for the future.
“If I’m filthy rich, why not?” Patton said.
Since 2004, more than 55 percent of each graduating class has made a financial gift or pledge to the University, Luzar said, with 63 percent of the Class of 2008 participating.
Fourth-year College student Leigh Corbitt said she is giving $50 because she feels like it is expected of her.
“There’s a little more peer pressure than I expected,” Corbitt said.
Most gifts from graduating fourth-year students range between $25 and $50, Luzar said, although there are typically more than 100 gifts for at least $150.
“From my perspective, we rely on our alumni for the future success of the University,” Luzar said, noting that state funding and tuition make up only 8 and 16 percent of the University’s annual budget, respectively.
Declining state funding contributed to fourth-year College student Sarah Pinsky’s decision to pledge $25 to the College. Pinsky added that the establishment of the Batten School of Leadership and Public Policy, which was created from an endowment gift, further inspired her pledge.
“I knew the University always needs more money,” Pinsky said. “It seems like there is never enough.”
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