By Gregory A. Volk
Executive Vice President
Gift
income from private sources* totaled $13.86 million in fiscal 2004, a decrease
of $1 million or 6.5 percent from last year’s $14.82 million.
The drop in gift income stems almost entirely from a dramatic decline in realized
bequests. In fiscal 2003, Lawrence received a near-record $8 million in bequests;
in fiscal 2004, only $330,000 was received in alumni and other bequests. Accordingly,
given the understanding that bequest
income does and will continue to fluctuate dramatically from year to year,
the results of fiscal 2004 were comparatively strong. An analysis of gift income
by source provides strong evidence that the downward trend in philanthropy
due to uncertainties with the market and the economy has been reversed. Gifts
from living alumni, for example, increased 161 percent: $10.8 million versus
$4.1 million in fiscal 2003.
Uses of funds received
Of the $13.86 million total, $5.99 million was received in gifts directed to
the physical plant, $2.847 million for the endowment, and $581,805 represents
life-income gifts. Gifts to The Lawrence
Fund reached $3.33 million; $896,761
was secured in restricted current gifts and $210,604 in other budget-relieving
gifts, bringing the total of expendable support to $4.44 million.
The Lawrence Fund
Unquestionably, the greatest triumph in this year’s development program
lies in the extraordinary successes of the annual giving program. The $3.33
million in gifts not only surpassed the goal of $2.8 million and exceeded last
year’s results by 11 percent, but it set a new all-time record for The
Lawrence Fund. Trustee support of The Lawrence Fund tallied $807,266, an increase
of 24 percent over last year.
Founders Club membership grew by 20 percent, from 554 members in fiscal 2003
to 667 current members in fiscal 2004. The Founders Club serves as our leadership
giving society; Founders contributed $2.22 million to The Lawrence Fund, versus
$1.91 million in fiscal 2003.
Importantly, the Milestone Reunion Class Gift Program raised $488,615 in gifts
and an additional $681,155 in multi-year pledges for The Lawrence Fund from
the Classes of 1954, 1964, 1979, and 1994. Gifts from these four classes constituted
20 percent of all alumni gifts to The Lawrence Fund in fiscal 2004, providing
strong and compelling evidence of the importance and growing success of the
Milestone program.
Support for the northern campus, via The
Boynton Society, also increased, with
operating gifts for Björklunden reaching
$210,000 (a new record), versus $159,000 last year.
Alumni donor participation
It has been three years since Lawrence enjoyed having an alumni donor participation
rate of 50 percent, and we are pleased to report that our alumni participation
not only returned to that level but reached 51.2 percent. Moreover, this
year’s
participation is the highest in the past decade. Two milestone reunion classes
set new participation records: 82.8 percent for the Class of 1964 at its 40th
reunion and 80.1 percent for the Class of 1954’s 50th reunion. Finally,
the average alumni gift to The Lawrence Fund was $341, versus $313 in fiscal
2003.
Endowment and physical plant
The substantial shortfall in realized bequests contributed to the significant
drop in endowment gifts ($2.8 million versus $8.74 million last year) and
represents the lowest total for endowment gifts in the past decade. Through
a “quiet
campaign” to honor retiring President Richard Warch, the trustees secured
more than $1.6 million for an endowed fund to support Björklunden in perpetuity.
More than 2,200 donors contributed to The Warch Björklunden Endowment,
and their generosity effectively doubled the level of endowment designated
to support the northern campus.
In addition, more than $250,000 was secured
in new gifts and pledges for the Freshman
Studies Endowment (in response
to the challenge grant from the National Endowment for the Humanities).
To date,
gifts and commitments for Freshman Studies total approximately $1.75 million,
leaving $250,000 to be raised by July 31, 2005. Gifts for the plant fund totaled
$5.99 million versus $1.688
million
one year ago.
To a considerable extent, Lawrence stands today as a leader in liberal
education as a consequence of the strong philanthropic support provided
to the college
from its diverse constituencies. That support was renewed and extended
in fine fashion in the past year through gifts from 7,385 Lawrence and
Milwaukee-Downer
alumni; 2,015 parents; 537 friends; and 270 corporations, foundations,
and organizations.
Your gifts make it possible for us to continue to enrich the Lawrence experience
for a new generation of students, and I am pleased to convey these sincere
thanks to each of you for your generosity and for your confidence in our
efforts.
Accompanying charts and graph (.pdf file)
* 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 2003-04, 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 prior fiscal years.