The University received $264,580,049 in charitable gifts in the 2001-02 fiscal year, a small increase over last year, despite the economic downturn. The philanthropic cash gifts total was the second largest in the school's history.
"Conventional wisdom was that this year would have been weaker than last year," said Peter Vaughn, director of community and donor relations for development. "[The increase] is a pretty strong testament to Duke alumni."
This year brought The Campaign for Duke, the University's $2 billion fund-raising effort scheduled to end December 2003, up to a sum of more than $1.8 billion. The momentum of the campaign played a large role in the sizable gifts total, Vice President of University Development Robert Shepard said.
Much of the giving will go toward the goals of the Building on Excellence--the University's strategic plan--including improving faculty support, strengthening the sciences and engineering, promoting the University's diversity and expanding Duke's reach both globally and locally.
About $18.1 million of the total was from the Annual Fund, which accumulates alumni gifts. This was a slight increase over last year's $17.7 million.
"It's incredibly impressive in such a tough year that alumni understood it was important to continue to support their alma mater," Director of Annual Giving Sterly Wilder said. "It shows a strong commitment and loyalty from our alumni."
The donations accumulated from July 1, 2001, to June 30, 2002, fell behind only the more than $300 million total the University received in the 1999-2000 fiscal year. This year's total topped last year by about $155,000.
Both the total number of donors and the number of alumni donors decreased slightly from last year, but larger gifts accounted for the increase. The figures do not account for inflation and include only cash donations, not pledges.
The Duke Endowment of Charlotte, the charitable trust created by James B. Duke that is often the University's largest donor, topped the donor chart with a $33.5 million donation, which goes partially to scholarships and outreach programs. Portions of the $35 million pledge from the Bill and Melinda Gates foundation for an undergraduate facility and student life initiatives ranked second. In third were portions of the $25 million grant from Peter and Ginny Nicholas that created the Nicholas Faculty Leadership Initiative. The Nicholases are co-chairs of the Campaign for Duke.
Neither Vaughn nor Shepard said they expected such a strong repeat for next year.
"We face continued difficulties in terms of the market and the economy," Shepard said. "The good news in this is even in somewhat difficult economic times, alumni continue to give and have faith in their institution."
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