The United States may be mired in an economic recession—and
philanthropic priorities may have shifted in the wake of 9/11—but
Emory completed a successful year of fund raising in 2001–02,
bringing in more than $210 million during the fiscal year ending
Aug. 31.
The total is down from the banner year the University enjoyed in
FY01, when Emory raised a record $297.8 million, but it still marks
a significant achievement in difficult economic times, according
to Bill Fox, senior vice president for Institutional Advancement
(IA).
“I am not an economist, but this seems to me to be one of
the shakiest times economically that I have known,” Fox said.
“If our endowment is shrinking, then so are the endowments
of foundations, and a university depends a great deal on its foundation
gifts for its fund raising. So many philanthropic organizations
have indicated they will be giving less—and in that environment,
we still had a spectacular year.”
Of Emory’s $210,372,283 fund raising total for FY02, $167.8
million came from organizations: corporations and corporate foundations,
private foundations, etc. More than $10.5 million was donated by
individuals (a total of 26,644 donors), and another $13.8 million
came from trusts and bequests (actually an improvement from FY01’s
$11.6 million total).
Though the University has raised a staggering amount of money during
his tenure—close to $1.75 billion since 1991—Fox is
quick to deflect credit to the network of fund raising staff in
IA and throughout the University; the amount of money Emory raises
is a direct reflection of how people feel about the University,
he said, and everyone from academic deans to senior administrators
have a hand in helping.
“Many, many people help the University raise money, and my
job is simply to coordinate and to see that everything goes smoothly,”
Fox said. “In no case does just one person play the only role—for
any major gift you can talk about, a number of people played a role
in getting that, present and past. For example, when we get an estate
gift, that might have been planned 20 years ago.”
Fox said the overall fund-raising strategy did not change in the
midst of an economic recession, though he did say Emory was careful
to remain sensitive to the realities of 9/11.
“After Sept. 11, a number of people for perfectly understandable
reasons made a decision to support causes to help those in need
in New York, Pittsburgh and Washington—and I support that
entirely. We even delayed our own fund raising in some cities for
that very reason,” Fox said. “We felt that cause deserved
the attention of donors, so that was a tough factor.”
One positive aspect on which to build was the addition of several
new facilities to the Emory campus. People still rave about the
2-year-old Miller-Ward Alumni House, Fox said, and new additions
like the Whitehead Building, the Math and Science Center
and the Schwartz Center for Performing Arts give people reason to
be excited about Emory’s future. That sentiment was echoed
by other IA leaders.
“The performing arts center is something that is important
to so many of our constituents—even those who’ve never
been involved with Emory,” said Jane DiFolco Parker, senior
associate vice president for IA services. “That’s one
of the great benefits of that facility, that it’s going to
bring people to this campus who perhaps wouldn’t otherwise
come.”
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