UNC Wilmington Donors Continued to Give in 2008-09 Fiscal Year Despite Economic Downturn
8/5/2009 12:30:20 PM
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During fiscal year 2008-09, the University of North Carolina Wilmington received more than $11.2 million in philanthropic support, despite the economic downturn and a nationwide decrease in average giving to colleges and universities.
While this amount reflects a 19 percent decrease from the $13.8 million received in fiscal year 2007-08, a record-breaking year for the university, it is a smaller decrease than UNCW officials expected, given the state of the economy. In addition, the number of UNCW donors remained the same during the last two fiscal years.
"When we analyzed our fundraising numbers at the end of the fiscal year, we were encouraged to see that our donors are maintaining their strong relationships with UNCW and want to give even if they aren't able to give at the same level as they have in the past," said Mary M. Gornto, vice chancellor for university advancement. "Although our total dollar amounts are down, our giving participation has remained steady."
The university has had several years of steady fundraising growth and record-breaking totals, which was expected to continue this past year if philanthropy nationally had not been affected by the economy.
Of the total received in fiscal year 2008-09, donors gave more than $6.7 million in outright gifts such as cash and stocks, with the remaining amount in pledges that will be fulfilled within a specific timeframe, such as three years. The 2008-09 fiscal year began July 1, 2008 and ended June 30, 2009.
"It is truly incredible that UNCW supporters have given at that level with the economic challenges we all faced this past year," said Chancellor Rosemary DePaolo. "I continue to be amazed by the love and loyalty that our alumni, parents, friends, faculty, staff and students have for this university. They share our commitment to providing our students with the most powerful learning experience possible, for which we are very grateful."
Planned giving grew by more than 90 percent
One area that grew during 2008-09 was planned giving, which allows donors to arrange a gift to the university in the future. There are many types of planned gifts beyond simply designating a gift through a will, including charitable remainder trusts and gift annuities, which can be set up to provide the donor with income during his or her lifetime, while securing the principal for the university.
UNCW received more than $2.8 million in new unrealized planned gifts during the 2008-09 year, which is more than a 90 percent increase over the previous year. Gornto said this dramatic increase reflects a conscious decision on the part of the university to pursue these kinds of gifts, but also shows that donors understand that they can use their assets to provide a future gift to the university even if they are unable to make an outright gift at this time.
"We understand that it's difficult for people to meet their philanthropic goals when budgets tighten and the economy is unstable," she explained. "However, many types of charitable gifts enable the donor to make a significant donation while saving taxes or receiving income in return.
"Our office can help prospective donors by providing information about the various types of planned giving programs available and assisting them in finding one that best fits their needs and interests," Gornto said.
Scholarships, alumni and student giving
Donors also established 32 new scholarships during the past fiscal year, nine of which are endowed at a total value of $480,000. Of these new scholarships, 31 will be awarded on the basis of merit. Increasing merit scholarships for exceptional students is a major fundraising priority for UNCW.
The year's largest contribution was from Bill and Jackie Warwick of Wilmington, who gave a piece of property in Landfall, valued at $2.6 million. The eventual sale of this property will increase an existing scholarship fund supporting students in the Cameron School of Business to a $500,000 endowment and also establish a new endowed scholarship fund, which will provide need-based support for students from New Hanover, Brunswick and Pender counties.
Faculty and staff participation also grew slightly, and dollars given by employees stayed steady at just over $151,000. While parent giving decreased in dollars, the number of parents who contributed grew significantly. Alumni participation for fiscal year 2009 was 10.5 percent, down just slightly from 11.2 percent the previous year.
Not only did the number of students giving increase by 40 percent over the previous year, there was also a 90 percent increase in the amount of dollars given. Numerous senior student donors gave to specific academic or program areas, in addition to the senior class gift, which established a Sustainability Fund.
"This growth in student giving is truly remarkable," said Gornto. Giving back helps students stay in touch with their alma mater, but more importantly, we hope that giving will become a habit for the rest of their lives."
Media contact:
Dana Fischetti, media relations manager, 910.962.7259 or fischettid@uncw.edu
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