Stocks boomed, salaries rose -- and gifts to the University hit a record $319.4 million in 1997-98. That combination was no coincidence, says Stanford's vice president for development, John Ford. Last year's hot economy -- now cooled somewhat -- fueled generosity among alumni and friends. The percentage of contributing undergraduate alumni stood at nearly 35 percent for the third straight year -- not as high as fundraisers had hoped, but a significant gain over Stanford's 26 percent participation rate five years earlier.
It took more than fattening stock portfolios to inspire giving, says Ford, '71. University officials also made a convincing case for the value of funding new educational initiatives, such as the Stanford Introductory Studies program for improving undergraduate education and Stanford Graduate Fellowships. Such "good, compelling ideas" are needed to attract giving, he says, "and we've had lots of them."
In a report to the board of trustees, Ford noted that 441 donors made gifts of $100,000 or more to Stanford (eight more than last year), while 64 (an increase of 17 over last year) plunked down upward of $1 million. Contributions to the President's Fund -- a large- donation ($10,000-plus) annual giving program aimed at funding strategic investments in academic creativity and innovation -- went up by nearly 25 percent, to $3.61 million.
Smaller donations made a difference, too. Senior gift participation, in particular, has shown a remarkable rise in recent years, from 45 percent for the Class of '94 to 73 percent for the Class of '98. The Class of '99 is shooting for 80 percent. Donations to The Stanford Fund, an annual giving program dedicated to undergraduate education, rose significantly during the last fiscal year, by 11.8 percent to $6.86 million.
Much of the money donated is earmarked for particular uses. The professional schools -- Law, Medicine and Business -- will receive 31 percent of this years funds. The other four schools -- Earth Sciences, Education, Engineering and Humanities and Sciences -- are in line for 21 percent of the $319.4 millon.
Fifteen percent will be poured into research and academics.
Ford notes that while other large universities have been engaged in highly publicized billion and multibillion dollar campaigns, Stanford has "quietly raised" more than $1.8 billion in cash and pledges over the past six years. Last year's total of $319.4 million placed Stanford second among the nation's higher education institutions in terms of gifts received. Still, Ford said, with Harvard raising $460 million, "We're second by a long way."
