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Meeting Information

Friday, March 27, 1998
3:30 - 4:00 p.m.
East Oval Room, The Rotunda

Committee Members:

Henry L. Valentine, II, Chair
John P. Ackerly, III
Charles M. Caravati, Jr.
T. Keister Greer
Elsie Goodwyn Holland
Terence P. Ross
Albert H. Small
Elizabeth A. Twohy


(Mr. Sweeney)

A. Vice President's Remarks

1. Billion Dollar Launching Strategy

2. Next Generation Initiative (Messrs. Casteen and Sweeney)

B. Philanthropic Cash Flow

C. Campaign Progress - FY'98

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.


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.


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.


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.




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