The College announced Tuesday it received $41.7 million in new fundraising commitments in fiscal year 2010-11. The windfall marks a 49 percent increase from the previous year.
The fundraising effort amassed more than $7 million in annual giving. The University also raised more than $17 million in bequests, matching the total raised in endowments, capital and major current-use gifts, according to a University press release.
The release also reported the number of donors rose by 16.5 percent. Recent graduates played an instrumental role in this effort.
"Our donors are primarily our alumni and friends, as well as foundations, corporations and others who may not be a connected U.Va. but have an interest in supporting us," College Dean Meredith Woo said in a fax. "Our donors span across many generations. As you might expect, many are older and more financially successful and secure, but we've recently seen an increase in the level of participation of younger alumni, which is very encouraging."
Eugene Schutt, College associate dean for Development, said despite the increase, the College has still felt the negative effects of the rough economic climate.
"I'm confident that our numbers would be higher if the economy were more robust," Schutt said in a fax. "But we must remember that our alumni have a deep understanding that the University's margin of excellence in large part depends on them, year after year."
Woo said she works to communicate with the teams of people working to raise money to help them understand the College's needs and aspirations.
"We think strategically about how to support both the arts and sciences, nurturing areas where we have strength and supporting new areas of endeavor," she said.
Until fall 2010, funding priority went to completing the South Lawn Project, Schutt said.
"Since then, priority has shifted to faculty and faculty support
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