Oct. 7, 2003
Centuries Campaign Over the Top
With GWs Centuries Campaign now concluded, Vice President for
Advancement Beverly Bond answers some of the most frequently asked questions
about the campaign.
Q: Eighteen months ago, GWs Centuries
Campaign had reached $425 million of its goal. What is the status of the
Campaign now?
BB: The Centuries Campaign was successfully
completed this summer. In September 2002, the $500 million goal was reached
nine months ahead of schedule and, by the close of the Centuries Campaign
on June 30, 2003, the final count was $552 million.
Q: What needs did the campaign help to meet?
BB: The Centuries Campaign was a comprehensive
campaign. That means gifts, pledges and grants from all private (non-government)
sources for any purpose were included. Commitments have been made in support
of a wide array of University priorities falling into three overall categories:
facilities, endowment and current operations.
The facilities include a new mid-campus quad, a Media and Public Affairs
Building, a Health and Wellness Center, renovations and additions to the
Law School, a new home for the Elliott School of International Affairs
and a new facility to be built for the School of Business and Public Management.
Commitments to the endowment comprise 29 percent of the campaign total.
More than 391 new endowed funds, including 170 scholarships and fellowships,
more than 30 chairs and professorships, and 125 funds for designated schools
and departments are being established.
Gifts, pledges and grants for current use totaled $354 million. Gifts
for current use include the annual fund and other gifts
for operations such as school programs and priorities, financial aid and
research. Individuals particularly alumni, parents, trustees and
others associated with the University have been increasingly supportive
of these needs. In fact, since the beginning of the campaign, more than
3,000 have joined the ranks of GW donors.
Finally, the University has been successful in competing for gifts and
grants from national corporations and foundations. Ford Motor Company,
Robert Wood Johnson Foundation, Howard Hughes Medical Institute, Henry
Luce Foundation, Hyundai and Kia Motors, MSNBC.com, MacArthur Foundation
and Science Applications International Corporation are among those now
investing in GW.
Q: How has the campaign been conducted?
BB: Leadership has been vital throughout
the campaign. The tireless energy, devotion and vision of President Trachtenberg
cannot be overstated. Central to the success, as well, is the work of
outstanding deans, talented faculty and a dedicated staff. This includes
Mike Worth, who served as vice president of alumni and development from
the outset of the campaign through June 2001, when he left this post to
join the faculty full time. Finally, there is the Board of Trustees. Chairman
Charles T. Manatt served as the campaign chair beginning in 1996 until
his appointment as US Ambassador to the Dominican Republic. At that point,
Joseph Brand led the campaign to its conclusion. Oliver Carr, also a former
chairman of the Board of Trustees, chaired the first phase of the campaign.
Q: With a successful campaign, why are there
still so many budget constraints?
BB: Of course this question is much too big
for me to answer alone, but it gives me an opportunity to address the
issue of the lifespan of a campaign. Comprehensive campaigns cover multiple
years. For the most part, gifts made for current operations have likely
already been spent. On the other hand, some money hasnt yet been
received. Pledges are generally payable over five years. And with respect
to planned gifts gifts made through bequests, charitable trusts
and annuities the money wont be available for use until the
donor or his or her designee has died. Moreover, a universitys needs
and opportunities will always exceed the amount of money that can be acquired
from philanthropy.
Q: Facilities are the most visible designations
of the campaign gifts, but the building campaigns dont account for
the largest portion of the total. Is this because buildings are less appealing
to potential contributors?
BB: Not at all. In fact, facilities for academic
purposes are very attractive funding opportunities for philanthropy. They
are tangible, and they can have a critical impact on recruiting and retaining
students and faculty, not to mention the favorable effect they have on
teaching, learning and discovery. However, constructing or renovating
buildings requires large sums of money. There are simply far fewer people
capable of making upper level gifts necessary to fund construction.
Q: Theres been a lot of attention paid
lately to the value of university endowments. How has the campaign affected
GWs endowment?
BB: $158 million has been pledged or committed
for endowment gifts. Since gifts to the endowment are invested, with only
earnings and not the principal being spent, these gifts need to be larger,
generally speaking, than those for current operations. Much of the endowment
support has come in the form of planned or estate gifts. Ive
been particularly inspired by the fact that some of the campaigns
largest commitments for endowment were made by those who know the Universitys
qualities and needs best of all faculty members. The stories of
many of those who have made endowment gifts are moving and powerful, and
I hope to be able to share some of them in the future.
Q: What lies beyond the Centuries Campaign?
BB: The end of the Centuries Campaign signals
the beginning of a new era. One measure of a successful, comprehensive
campaign is not simply the number of dollars raised at the
finish line, but what the campaign did to enable stronger fundraising
for the future. When this campaign began, GW annually was receiving gifts
and grants totaling between $20 and $25 million. This past year, the total
was $59.3 million. This demonstrates a growing level of appreciation of
the Universitys work and the investment required to sustain it.
We must continue to nurture and build on this momentum.
Send feedback to: bygeorge@gwu.edu
|
|
|