Charitable Giving to Dartmouth Begins Recovery
August 10, 2010 by Office of Public Affairs
Dartmouth College received $153 million in philanthropic support in the fiscal year ending June 30, 2010, an 11 percent increase over 2009 but below the record of $168 million received in 2008. The gifts enabled the undergraduate college, arts and sciences graduate programs, and the professional schools of business, engineering, and medicine to advance leading-edge teaching and scholarship, enhance student life, and sustain Dartmouth’s place at the forefront of U.S. higher education.
Commitments made through the Dartmouth College Fund, which help finance the undergraduate student experience, totaled $43.2 million (up 13 percent). The nearly 48 percent of undergraduate alumni who made donations represents a slight increase over the past two years. The Fund supports faculty, out-of-classroom opportunities such as athletics and student programs, facilities that promote an ideal learning and living environment, financial aid, and opportunities for students to pursue individual research projects with faculty.
Each of the annual funds of the professional schools also recovered from 2009. Dartmouth Medical School raised a record $592,220 (up 37 percent) with 27 percent alumni participation; Thayer School of Engineering $861,429 (up 12 percent) with 32 percent participation; and Tuck School of Business $5.2 million (up 8 percent) with 67 percent participation.
Of the total gifts, $133.8 million was contributed by individuals, and $19.1 million by foundations, corporations, and other organizations. The largest new commitment during the year was $35 million from an anonymous donor to create the country’s first Center for Health Care Delivery Science.
“In a year when we set out to address a $100 million budget gap and to implement a strategic budget reduction and investment program, thousands of supporters expressed their commitment to Dartmouth through their financial support,” said Dartmouth President Jim Yong Kim. “In my conversations with alumni and parents, they were heartened by our efforts to reduce our administrative expenses, and inspired by our determination to apply Dartmouth’s strengths in strategic ways. All of us at Dartmouth owe this community of donors our deepest thanks.”
Dartmouth has pursued an aggressive strategy to close a $100 million budget deficit brought about by the 2008 market collapse and corresponding 23 percent loss in endowment value. With a combination of strong annual giving, new business practices and procurement policies, and workforce reductions, Dartmouth met its fiscal 2010 budget goals and is on course to meet fiscal 2011 targets as well.
Other notable achievements:
- 99 percent of the Class of 2010 contributed to the Senior Class Gift, the highest percentage among seniors in Dartmouth history and the fifth straight record year in senior class giving.
- The Class of 1960 set a 50th reunion record with a gift of $4.4 million and 93.4 percent participation. The class also set a new record for Dartmouth College Fund scholarships with 154 gifts of $25,000 or more.
- The Class of 1980, celebrating its 30th reunion, raised more than $4 million with 52 percent participation.
- Parents and grandparents gave $3.2 million, a modest increase over last year, sustaining a level of giving that has grown consistently every year since 2002.
Dartmouth is a private, coeducational college and a member of the Ivy League. Founded in 1769, it is committed to outstanding undergraduate and graduate education while fostering leading scholarship among its faculty. Its small size encourages close student-faculty interactions, and its year-round schedule allows the majority of its 4,300 undergraduates to participate in foreign study and internships. In addition to its undergraduate and professional school programs, it offers 19 graduate programs in the Arts and Sciences.
Dartmouth College Press Release
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