Gift income from private sources totaled $13.2 million, an 18 percent increase over last fiscal year’s $11.2 million. These results reflect, in part, the impact of our work to bring the More Light! Campaign to a successful conclusion in October. Gifts from alumni were up 34 percent over last year, while gifts from parents and friends were down 13 percent and 16 percent respectively. Another aspect of giving— bequest income—was down slightly (2.3 percent). Gifts from organizations (corporations and foundations) were down 35 percent overall. The totals do not reflect the Paul and Kay Schmidt Trust, one of the largest gifts in the college’s history received last year. Due to accounting policies, the college accounted for the trust in the year that it was established, but the college did not receive the $3.9M until fiscal 2011.
Use of Funds Received
Of the $13.2 million received, $5 million was directed to the physical plant, $2.4 million to the endowment, and $548,000 to life-income gifts. The college received $1.45 million for restricted current gifts, which was very close to last fiscal year’s number. Gifts to The Lawrence Fund tallied $3.42 million, and $231,500 was received in other budget-relieving gifts. Approximately $166,000 is undesignated, pending discussions with donors regarding permanent allocations.
Realized bequest income totaled $777 ,780, a 2.3 percent decrease from last year’s $796,421. Membership in the Lawrence-Downer Legacy Circle grew to 831 living members from 818 in fiscal 2010. Corporate and foundation support for fiscal 2011 was $967,278 versus $1.4 million received in fiscal 2010.
The Lawrence Fund
Lawrence secured $3,417,749 in Lawrence Fund gifts for fiscal 2011, which reflects a 1.9 percent increase from last fiscal year’s $3,354,684 in gifts secured. Our biggest losses in Lawrence Fund support were in the corporate and foundation ranks ($30,000) and support from parents ($43,000). The remainder came from a decrease in corporate matching gifts. Overall, we had a slight increase in Lawrence Fund gifts from friends (up 11 percent) and an increase in Lawrence Fund support from foundations (up 62 percent).
Founders Club membership—those giving $1,000 or more to The Lawrence Fund—was 737 versus 716 last fiscal year (the record is 773 members set in fiscal 2008). Founders Club members contributed $2.27 million or 66 percent of Lawrence Fund gifts versus $2.21 million or 66 percent of Lawrence Fund gifts in fiscal 2010.
In fiscal 2011, Milestone Reunion classes contributed $290,303 or 9.5 percent of all gifts to The Lawrence Fund. When including gifts, multi-year pledges, restricted gifts and planned gifts (for the 50th and 60th Reunions), the Classes of 2001, 1986, 1971, 1961 and 1951 collectively committed more than $10 million.
The alumni donor participation rate dropped slightly again this year to 40.1 percent from 41.3 percent, and the number of alumni donors declined to 5,619 from 5,844 last year and 6,186 in fiscal 2009. Support for Björklunden via The Boynton Society also declined slightly—$214,987 compared to last year’s $219,479—for operating gifts for Björklunden.
Endowment and Physical Plant
Gifts to the endowment totaled $2.4 million, a decrease from both last year’s $3.03 million and the college’s average ($6 million) for the past decade. Within the $5 million plant gifts, $3 million was received for the renovation of Jason Downer Commons, $1.2 million for the Warch Campus Center, $500,000 for Landis Residence Hall renovation, $159,000 for the Björklunden wind turbine, $100,000 for Stansbury Theatre renovation, $98,500 for Trever Residence Hall renovation and $15,000 for the Björklunden expansion project.
More Light! Campaign
The More Light! campaign came to a successful conclusion on October 28, 2011. Weathering the very challenging economic downturn, More Light! emerged with momentum: total gifts and commitments for the campaign stand at $160,444,493, exceeding the campaign’s $150 million goal. Given the challenges of the economy, reaching our goal for the campaign is a major accomplishment and we are exceedingly grateful to our fiercely loyal and generous alumni, parents and friends.
On October 28, members of the Lawrence community celebrated in style the many ways in which Lawrence has been enhanced through the More Light! campaign. This issue of Lawrence Today highlights many of the ways philanthropy has improved the educational offerings for our students. There is clearly much to celebrate!
Looking forward, we will continue to strive to raise funds for the college, especially for The Lawrence Fund, institutional priorities, endowments for scholarships and professorships, and academic programs. I send my heartfelt thanks to our donors for your most generous support.
Calvin D. Husmann
Vice President for Alumni, Development and Communications