Georgetown University raised the most cash in its history in fiscal year 2007, and administrators said they hope to raise $1.5 billion over nearly a decade in the next capital campaign.
According to William O’Leary (GRD ’98), associate vice president for marketing and communications, the university raised $105.3 million from June 2006 to July 2007. This represents a 9 percent increase over the $96.7 million it raised in the previous year.
O’Leary said the university also received $130 million in commitments last year, a 32 percent increase over fiscal 2006.
“Among other things, these funds are going to support the endowment, to improve and build facilities such as the new business school building, to support the university’s ‘meet full need policy’ through scholarships and other aid as well as to faculty support through endowed chairs, salary increases and program support,” O’Leary said.
The torrid pace of fundraising continued into the current fiscal year, as the university raised $75.4 million in cash and $78.4 million in commitments from July to December 2007.
“This represents the university’s best six-month totals for commitments and for cash,” O’Leary said. “This past December, a crucial month for fundraising, represented the best December for cash fundraising in the university’s history.”
O’Leary said that $32.1 million of the money raised went to the Annual Fund, with 29,745 donors giving an average of $1,081. The Georgetown Fund raised more than $4 million, while the athletic department raised a record $3.4 million.
Future fundraising may be hampered by last month’s theft of a hard drive containing 38,000 Social Security numbers from the student affairs office last month. Some alumni donors have said that they would no longer donate to the university because they were upset with the university’s handing of the situation.
“We’re in the quiet phase of the next university fundraising drive, and what we’re hopeful for that campaign is to be successful in interesting people around some core ideas that really matter at this point in the life of the university,” University President John J. DeGioia said last month in an interview with THE HOYA.
O’Leary said the next capital campaign is expected to officially launch in mid-2009. For now, university administrators and the Board of Directors are working to identify and prioritize needs.
“The goals for the campaign are being solidified, but at this stage financial aid, faculty excellence, science and student life will be core themes and fund raising priorities,” he said.
O’Leary said the university has prepared for the campaign by hiring James Langley as vice president in the Office of Advancement in 2004. Office of Advancement personnel have been meeting with potential donors “every day” to explain the needs of the university to them and try to secure their financial support, he said.
O’Leary said capital campaigns usually last about seven to eight years.
Georgetown’s last capital campaign lasted from 1995 to 2003 and raised $1 billion. The campaign allowed the university to double the number of endowed faculty positions and endowed scholarships and raised $298 million for the endowment, O’Leary said. In addition, the university used past capital campaign funds to build the Southwest Quadrangle, Wolfington Hall and the Davis Performing Arts Center.