The Board of Visitors’ Advancement Committee met Friday from 11 a.m. to 11:45 a.m. at the Rotunda to hear the fundraising and campaign progress report, which included that 2022 has marked the second-highest fundraising year in the history of the University.
Despite high market volatility and a global pandemic, the University surpassed its goal of $500 million in commitments for fiscal year 2022, having raised $589 million. Philanthropic cash flow for fiscal year 2022 was $486 million, exceeding the previous record set in 2021.
In 2019, the University launched “Honor the Future”, a $5 billion fundraising campaign with the goal to improve the community and become the best public university by 2030.
Chairman James V. Reyes opened the meeting with a confirmation of the Board of Visitors Representatives to the Governing Boards of University-Affiliated Organizations, including L.F. Payne serving as vice chair.
Reyes also gave an overview of the total raised for the campaign. As of Aug. 19, the University has raised roughly $4 billion, which accounts for 86 percent of the campaign goal.
“The donors and the alumni feel good about the direction of the University and the administration and the momentum we have,” Reyes said. “People wouldn't be giving money if they didn't think we were doing the right thing.”
Vice President for Advancement Mark Luellen discussed in more detail the fundraising progress report and applauded donors for the contribution towards their campaign’s achievements.
Luellen reviewed both cash receipts and philanthropic commitments. In 2021, the University ended the year with about 100 gifts of a $1 milion or more, which made up 55 percent of the total.
In addition to reflecting on the past year’s funds raised, Luellen also acknowledged the progress made so far during the fiscal year 2023. Quarter one of fiscal year 2022 was the highest record for donations ever raised by the University of any first quarter, at $116 million. $152 million has already been documented for fiscal year 2023 since July, which puts the University 30 percent ahead of the best first quarter.
Luellen applauded the “very positive start to the year” and noted how the University’s strategic plan has been their “North Star” for keeping focused. He also thanked the strong alumni base for their loyalty.
The Committee went into closed session at 11:20 a.m.