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Richard DeWolfe, chairman of the Board of Trustees Development Committee, speaks at the staff celebration of the successful fundraising year. |
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In the second most successful year in its fundraising history, Boston University brought in $93 million in fiscal year 2005, topping last year's total of $90 million. Only fiscal year 2003 was better, with a total of $103.4 million.
Corporations and foundations, including family foundations, gave more than $61 million, up nearly 6 percent from the previous year and two-thirds of the year's total gift income. Also contributing to last year's success was the 29 percent increase in gifts to the Annual Fund, which brought in more than $5.25 million. The number of Annual Fund leadership givers-those donating at least $1,000-was 7 percent greater than in the previous year; thirty-eight of them were first-time donors to BU.
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Aram Chobanian (left) and Robert Brown, respectively Boston University's ninth and tenth presidents. |
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At the University Development and Alumni Relations staff celebration of the successful fundraising year, Richard DeWolfe (MET'71,'73), chairman of the Trustee Development Committee, cited last year's Leventhal Challenge Fund as "setting a new standard at the University for the power of a gift." In 2004, Alan Leventhal, chairman of the Board of Trustees, and his wife, Sherry Leventhal, offered the University a $5 million challenge gift, which would match donations in two categories. Gifts to the new and unrestricted Fund for Leadership and Innovation, to be allocated at the discretion of the president, were matched by an equivalent gift. Gifts to designated projects were matched at a rate of .5 to 1.
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Christopher Reaske, vice president for University Development and Alumni Relations, announces the fundraising total for fiscal year 2005. |
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The challenge, designed to encourage significant donations-with some exceptions, it matched gifts at $100,000 and above-was met in eight months rather than the expected twelve. The majority of the donations were designated, and when all pledges are paid the University will have benefited by a total of $13 million.
"I look at this amazing number and say, 'So much done and so much to do,' " President Elect Bob Brown said at the celebration. "Fundraising is going to be the heart and soul of the growth of the University over the next decade. We all know the limitations of tuition as a revenue stream for universities today. We all know the needs of the University. . . . I look forward to working with all of you."
—Natalie Jacobson McCracken |
