- A.1.
Billion Dollar Launching Strategy
BACKGROUND:
With the agreement of the Board of Visitors to increase The
Campaign for the University of Virginia to $1 billion through
the year 2000, the University has an unprecedented opportunity
to re-energize its corps of volunteers, prospects and past donors
to meet the challenge of a goal now twice the amount projected
only five years ago.
To gain the most leverage from this decision, the following
is an outline of actions that will be taken over the next thirty
days (and throughout the remainder of the academic year) to
ensure that the Campaign goal increase generates the maximum
impact on fund raising at the University.
DISCUSSION:
The following are the specific strategies that have been/will
be implemented to gain the most visibility and momentum from
the expansion of the goal for the University Campaign to the
$1 billion level. They touch virtually every aspect of the University
Community from the faculty, staff and students to key prospects
and volunteers to the overall alumni population to local, state
and even national media exposure:
- Re-Launch
Event A special Executive Committee meeting was held in the
Dome Room of the Rotunda. It was attended by key campaign
leadership and full representation of the Development Community.
Media notification, briefing and follow-up included coverage
by most local media outlets, good participation state-wide
and most importantly, national exposure through coverage
in the New York Times education section on Wednesday, February
25, 1998.
- Special
Publications
- Special
issue of Envision
- School/unit
special campaign articles in magazines/newsletters
- Publications
showing impact of campaign to-date
- Inside
UVa middle section special insert
- Volunteer/Donor
Notification
- Special
letter informing National Leadership Gifts Council (NLGC)
of goal increase/invitation to re-launch event
- Letter
from C.L. Brown to each regional campaign chair and leadership
committee members informing them of goal increase and inviting
them to the re-launch event
- Letter
from the President and the Campaign Chairs to each school/unit
campaign team member informing them of goal increase and the
need to continue aggressive campaign efforts
- Tasteful
announcement from Campaign Chairs informing campaign leadership
benefactors to date (including Rotunda, Cornerstone and Lawn
Societies) of goal increase, and the importance of continued
involvement
- Announcement
to all remaining major gift prospects
- Solicitation
Initiatives
- Letter
to all regional kickoff attendees (unassigned/lower level
prospect ratings) with business reply envelope and pledge
card stressing importance of their gift now in light of goal
increase
- Review
of all past campaign donors to determine re-solicitation opportunities
from the BOV, Campaign Executive Committee, and "six-figure"
donor population.
- Bequest
solicitation strategy to convert 25% of undocumented expectancies
to specific amounts.
ACTION
REQUIRED: None
- A.2.
Next Generation Initiative
BACKGROUND:
The elderly in this country have amassed great wealth. With
inevitable mortality, the next decade will see an $8 trillion
passing of family assets to younger family members. Clearly,
research shows that the University of Virginia has a large number
of alumni who will be the beneficiaries of this wealth.
In addition, the University has developed an unusually successful
body of alumni between the ages of thirty to forty-five who
have already demonstrated substantial earning capacity and asset
accumulation.
It is imperative to the future success of the University that
these two categories of alumni become fully engaged and involved
in the life of the University.
DISCUSSION:
Following the Phoenix regional campaign kickoff, President Casteen
traveled to Tucson where he brought together some of the best
and brightest young alumni to begin discussions with the President
in shaping a vision for the University in the next century.
The basic question posed by the President to this group of 30
carefully selected alumni and spouses/guests was: "Where do
you want the University to be in the year 2020 and how do we
get there?"
The one and one-half day session included sessions on a "State
of the University" report; "Envisioning a Mature University;"
"Building the Case For Financial Self-Sufficiency;" and a candid
exchange between the President and those in attendance on the
impact the University has had on the participants lives and
how the University is positioned to provide the same opportunities
for success for future generations.
This is the first of what will be at least five such sessions
with the University's most important young alumni. It is hoped
that this will lead to the commitment of both time and resources
by a totaling 100 future leaders and benefactors of the University.
ACTION
REQUIRED: None
- B.
Philanthropic Cash Flow
BACKGROUND:
This report will be a statistical review of fund-raising cash
gifts received for the period July 1, 1997-January 31, 1998.
Emphasis will be placed on measuring performance compared to
the FY'97 and the previous three fiscal years.
DISCUSSION:
The most recent audited report on cash flow status through January
31, 1998 will be used as the basis for the public presentation
by the Vice President for Development.
The strength of equity markets, the cumulative effect of five
years of very aggressive fund raising and the acceleration of
pledge payments to the capital campaign have created an exceptional
period of giving to the University. Over $91.1 million has been
received to date by the University toward a stated cash flow
goal of $100 million. This is a $27.6 million increase over
the corresponding period of FY'97 ($63.5 million) and represents
a 43.44% increase over the previous fiscal year.
Areas of significant increase include Engineering (125%), the
Bayly Art Museum (81%), Rector and Visitors (97%) and the Health
Sciences Center (65.23%).
Both individual and corporate gifts show significant increases.
Almost $60 million has been received from individuals, a 57%
increase. Corporate giving has more than doubled with revenues
totaling $13.5 million.
ACTION
REQUIRED: None
- C.
Campaign Progress FY98
BACKGROUND:
The capital campaign continues as the comprehensive fund-raising
structure that drives philanthropic support for the University
during the period July 1, 1993-December 31, 2000. It is the
single most important focus of the Universitys development community
and a priority of the President and the Administration.
DISCUSSION:
Audited figures through January 31, 1998 show campaign progress
at $689 million toward the University's revised goal of $1 billion.
This includes $624 million of outright support and $65 million
in "future" support, including bequest expectancies and insurance
gifts.
The University has received $28 million in new outright commitments
since the last Board of Visitors meeting. New future pledges
totaled $11 million during this same period.
With accelerated pledge payments and strong outright giving,
53% of the campaign total is in cash, and only 15% or $103 million,
is in outstanding pledges.
The campaign continues to benefit from strong fund-raising performance
from the University's professional schools. Also showing continued
strength are the schools of Commerce, Engineering and Arts &
Sciences as well as our Athletics program.
Individuals, including alumni, parents and friends continue
to set the pace with 63% of the total commitments followed equally
by our corporate and foundation efforts at 15% each.
ACTION
REQUIRED: None
