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WVU Foundation sets record for donations received in FY11

on Tue, 07/19/2011 - 08:00

Alumni and friends of West Virginia University contributed a record $96.3 million in cash, pledges and in-kind gifts in the most recent fiscal year, reflecting a confidence in the University's leadership and direction.

The gifts span the entire life of the University, from academics and athletics to research and medicine, enabling the WVU Foundation to contribute record amounts to the University.

“The generosity of our donors speaks volumes about how much they love and appreciate WVU,” said Wayne King, WVU Foundation president and CEO. “We’ve had two very difficult years with the economy, yet supporters of this great University continue to respond. They feel good about President (Jim) Clements’ leadership, and like the direction the University is heading.”

The total for the fiscal year ended June 30, 2011 surpasses the previous record of $86 million contributed to the WVU Foundation in FY2007. Last year’s total was $80 million. The giving average for the past two fiscal years, $88 million, represents an increase of 69 percent over the average for the period FY99-FY09, which was $52 million.

Over the past fiscal year, 21,613 donors made 35,230 gifts.

Donor gifts enabled the Foundation to disburse approximately $50 million in funds in FY11 as requested by the University, also a record. Over the past five years, the Foundation has provided the University with $213 million in direct support.

"The generosity shown by our alumni, donors and friends has been amazing and the confidence they show in West Virginia University is truly inspiring," Clements said.

"We're a University on the move in so many areas, and wherever I go Mountaineers tell me how proud they are and how much this University means to them. I can't thank our donors enough for their enthusiasm and support of our students, our faculty and staff, and our programs and initiatives."

The Foundation’s annual giving program – The University Fund – recorded its highest yearly total ever as well in FY11, approximately $19.8 million, up from $17.4 million in the previous year.

Also contributing to the Foundation’s fundraising success in FY11 was a record set by the Mountaineer Athletic Club at $21.5 million for the year.

"The generosity of our donors has allowed the athletic department to move forward and complete much needed capital projects as well as maintain a competitive operating budget,” said WVU Director of Intercollegiate Athletics Oliver Luck. “Also, our student-athletes had an excellent year in the classroom and in competition, and private gifts raised to help us fund athletic scholarships not only benefit us now, but also in shaping the lives of our future leaders."

WVU Health Sciences Development raised $21.2 million in FY11, its fourth highest amount in the past 12 years.

“We’ve been particularly fortunate at the Health Sciences Center this year,” said Christopher Colenda, WVU Health Sciences chancellor. “Not only have several individuals, families and foundations stepped up to create transformational, million-dollar-plus endowments, but an enormous number of alumni, parents, friends and former patients have reached into their pockets to support our students, our research programs and our healthcare efforts. All of us are extremely grateful for this outpouring of generosity from the Mountaineer family.”

Several multi-million dollar gifts and an in-kind software donation valued at $10 million were key in reaching the all-time record, said Lyn Dotson, Foundation vice president for development.

“To set a record in fundraising speaks greatly of the passion and desire our donors have to see this University succeed,” Dotson said. “Many thanks go to our generous and loyal donors for helping us to accomplish this.”