The Office of Alumni and University Relations reported continued growth in current cash donations from Georgetown alumni, following a record fiscal year 2004 collection of nearly $105 million. This amount exceeded the previous record set in 2001 by $10 million. This fiscal year, which begins July 1 and ends June 30, donations so far have reached a total of $67.3 million, marking substantial progress toward the FY2005 goal of $95 million.
The record cash total includes cash payments on pledges made to the Third Century Campaign and donations for immediate use through the Annual Fund, which directs donations to alumni donors’ respective academic schools. Allocation of the money is determined by each schools’ deans for program enhancement and development. Begun in July 1995 and completed in Dec. 2003, this effort raised over $1 billion for use in endowments, program support and campus facility growth. The number of endowed scholarships, which help the University address the financial needs of students, grew to 505 from 286. The number of endowed faculty positions, which help the University attract high caliber professors and researchers, increased from 68 to 130 over the course of the campaign.
Funds raised through the campaign also supported new programs in each academic school and made possible construction projects including the Southwest Quadrangle, completed in 2003, the renovation of St. Mary’s Hall, which became the new home of the School of Nursing and Health Studies in 2002 and the Law Center Completion Project, finished in Oct. 2004. The Annual Fund more than doubled to $20 million from only $8.5 million when the Third Century Campaign was initiated. Office of Alumni and University Relations Senior Director of Advancement Communications Jeff Donahue commented that this growth reflects “the growing of a philanthropic community that will benefit the University for years to come.”
Georgetown’s current priority is a new McDonough School of Business facility designed to house all MSB programs. The start of initial infrastructure work on the MSB facility is currently pending sufficient funding and Board of Directors approval.
