Campaign to reach goal in June
April 17, 2007
The Campaign for William & Mary fundraising effort is “absolutely 100 percent confident” that their $500 million goal is attainable by the end date of June 30, 2007, according to Sean Pieri, vice president for University Development.
p. The fundraising effort, which began in 2000 under former President Timothy J. Sullivan, is the third campaign of its type at the College. The first campaign in the 1970s raised approximately $20 million and the second campaign in the late 1980s and early 1990s raised approximately $150 million.
p. Pieri explained that the Board of Visitors determines the targeted amount of each campaign based on conversations with alumni and potential donors as well as institutional needs. The $500 million goal was first introduced in the late 1990s and officially began in 2000 with a quiet phase.
p. This first phase of the fundraising was a two-year period in which the College privately worked to have a very small number of donors give 40 to 50 percent of the total amount. Pieri noted that during this phase, between $200 to $250 million was raised.
On Charter Day of the 2002-2003 school year, the Campaign entered its current public phase, which Pieri defined as the five-year period during which the College emphasizes fundraising through major publicity efforts. On Charter Day 2007, the College announced that it had surpassed the $500 million mark, with $502.7 million raised as of Jan. 1, 2007.
p. Pieri would not comment on the $12 million donation rescinded by James W. McGlothlin, who, according to the Feb. 28 issue of The Flat Hat withdrew his $12 million donation and consequently placed the College under its desired goal.
p. Pieri, however, remains confident that the Campaign’s goal will be reached by the projected end date. He also specifically mentioned several past donors, such as Raymond A. “Chip” Mason, ’59, Alan Miller, ’58 and Jim and Jane Kaplan, ’57 and ’56, whose gifts have significantly added to the College’s campus through the ongoing efforts of the Campaign. He would not discuss the details of any donor’s contributions.
p. According to an article in W&M News, the Mason School of Business was named for Mason, who helped found the business school and has made significant financial contributions to it. Additionally, Kaplan Arena was named for Jim and Jane Kaplan, who have given significantly to the athletic department, most recently with $7 million for the men’s basketball team.
p. The Campaign website states that Alan B. Miller Hall, which will hold all of the business school programs, received its name from Miller in honor of his contributions to its funding. Miller has also given to Tribe Athletics, athletic scholarships and recreational sports. The gymnasium in the Recreational Sports Center is also named for Miller.
p. According to Pieri, the ultimate allocation of donations results from negotiation between the donor’s interests and the College’s institutional needs. The money raised is used for both expendable and investment purposes, with approximately $200 million out of the total $500 million goal set aside for endowment.
p. Pieri remains optimistic regarding the success of this fundraising campaign.
p. “The half-billion dollars is really a tremendous success for the College. Very few thought it was possible but today it’s a reality,” he said.