University Records Another Strong Year in Private Giving

Virginia Tech supporters made fiscal year 1999-2000 another highly successful one when it came to giving to the university. Donors contributed just over $55 million, compared to the previous fiscal year's total of $71.4 million, which included an extraordinary gift of $23 million in patents and equipment from DuPont for the College of Engineering. Excluding that donation, this year's bottom line in philanthropic support marks the first time Virginia Tech has reached $50 million or more in gift income.

"It truly was an exceptional year, especially when you realize that we continue to attract such a high level of support two years after the successful completion of a comprehensive fundraising campaign," said Elizabeth Flanagan, vice president of development and university relations. "Even more encouraging is the fact that the giving was so broad-based and that all eight colleges received more in private funding than they did in 1998-99."

Among individuals, alumni headed up the list of most generous donors, contributing $18.1 million for an increase of 10.4 percent over last year. Parents, friends, faculty, and staff also raised their giving considerably. Friends of the university jumped their financial support to $12.6 million, which was 91 percent higher than the prior year, while parents and faculty and staff gave 83 percent and 153 percent more than last year, respectively.

The university's endowment received a significant boost from the private sector. Gifts earmarked for endowment rose 59 percent, from $12.4 million in 1998-99 to $19.8 million for fiscal year 1999-2000. The substantial increase pushes the university closer to one of its most ambitious long-term goals: having a $1-billion endowment by the year 2013. Support for current operations totaled $26.9 million, while contributions to capital facilities and sponsored programs comprised the remaining two areas where donors wanted their gifts to be used.

Supporters continued to designate the majority of their funding to the colleges and to intercollegiate athletics. While the College of Engineering was the largest beneficiary, with $10.5 million in contributions, three of the colleges recorded increases that doubled or nearly doubled their totals from the previous fiscal year. Thanks to a $6-million gift from the estate of philanthropist Paul Mellon, the College of Agriculture and Life Sciences' gift total reached $8.4 million, topping last year's total of $4.4 million by 90 percent. Just as impressive were the results for the College of Architecture and Urban Studies and the College of Human Resources and Education, where donor contributions rose 154 percent and 107 percent, respectively. The College of Veterinary Medicine, which saw its level of gifts increase 54 percent to more than $1.4 million, and Intercollegiate Athletics were also recipients of strong support. With just over $10 million in gift income in 1999-2000, athletics set a fundraising record for the fourth consecutive year, a record made possible — in large part — by the Hokies' highly publicized drive to the Sugar Bowl and the opportunity to play for the national football championship. The Equine Medical Center also made the year's financial highlights by attracting $2.4 million in private dollars, an improvement of 414 percent over the previous year's results.

All in all, donors provided a big vote of support for the university, its faculty, and its students — and a wonderful start to the new millennium.