By Calvin D. Husmann
Vice President of Development and Alumni Relations
After a distinctive 23-year tenure at Lawrence, former Executive Vice President Gregory A. Volk assumed a new position at Lewis and Clark College in September. He left on an exceedingly high note, as gift income from private sources* in fiscal 2007 totaled $21.4 million, a 15 percent increase from the $18.6 million received in fiscal 2006. The $21.4 million sets a new all-time record for the college, narrowly exceeding fiscal 2000’s $21.2 million results. These extraordinary results were swelled by a $5 million payment from an anonymous donor on a $15 million commitment for the Campus Center.
Uses of Funds Received
Of the $21.4 million received, $10.9 million was received in gifts directed to the physical plant, principally for the Campus Center and the Björklunden expansion; $5.5 million for the endowment; and $100,000 represents life-income gifts. Slightly more than $1 million was received in restricted gifts. Gifts to The Lawrence Fund tallied $3.55 million and $42,000 was received in other budget-relieving gifts. Realized bequest income totaled $1.75 million, a 78 percent increase over last year’s $1 million. Membership in Legacy Circle, Lawrence’s recognition society for donors who have established deferred gifts to the college, grew from 662 to 698 living members.
The Lawrence Fund
Lawrence received $3,552,958 for the college’s operations, surpassing the $3,400,000 goal and establishing another record. Founders Club members (donors to The Lawrence Fund of $1,000 or more) grew to 758--another record. Founders Club members contributed $2.481 million or 69.8 percent of Lawrence Fund gifts.
Milestone Reunion classes contributed 15.2 percent of all gifts to The Lawrence Fund, a total of $540,976 for fiscal 2007. Tallying gifts, pledges, and deferred gifts, the Classes of 1997, 1982, 1967, and 1957 collectively committed $7.483 million. The Class of 1957 set a college record with commitments totaling $5,229,684.
The alumni donor participation rate dropped to 45.8 percent from 50.0 percent and the number of alumni donors declined to 6,618 from 6,985 last year. Despite this decline, the college continues to rank among the top colleges in the country in the category of alumni participation.
Support for the northern campus, via The Boynton Society was down 16.3 percent compared to last year’s $253,398 with operating gifts for Björklunden only reaching $211,902 in fiscal 2007. It appears for the second year in a row that the expansion campaign for the lodge is negatively impacting our unrestricted giving to Björklunden via the society.
Endowment and Physical Plant
Buoyed by a $2.5 million gift from Walter Schober to establish an endowed professorship in environmental science, gifts to the endowment totaled $5.5 million, more than double from last year ($2.413 million). Within the $10.94 million plant gifts, $9,417,121 was directed to the Campus Center and the Land Bridge and $873,174 for the Björklunden Expansion project. In addition, Lawrence received $500,000 as a lead gift toward the renovation of Memorial Union.
Conclusion
On behalf of the Board of Trustees and the students, faculty, and staff of Lawrence University, I am pleased to extend our heartfelt gratitude for the generous philanthropic support received from Lawrence and Milwaukee-Downer alumni; parents of current and former students; other friends of the college; and numerous corporations, foundations, and organizations in 2006-07. Many thanks!
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*Although the figures here presented are in compliance with standards adopted by CASE (Council for the Advancement and Support of Education) and NACUBO (National Association of College Business Officers), they differ from the presentation of gift income on the college’s financial statements. This report includes both gifts and payments on pledges received during 2005-06 but excludes new pledges received during the fiscal year. Financial-statement gift income, on the other hand, augments these numbers by the value of new pledges received during the year and reduces them by the value of payments made on pledges received in the prior fiscal year. |
