University’s fundraising tally continues to rise in tough times

BY RAY DELGADO

Despite lingering jitters over the national economy, Stanford brought in more than $486 million in donations last year, the second-best result in the university's history and second after Harvard among universities nationwide.

Gifts were up nearly 7 percent during fiscal year 2003 over the previous year, and included an all-time high for The Stanford Fund, which raised $16.3 million.

Of the $486 million raised from 68,800 donors, $190 million was earmarked for the endowment and another $45 million will go to support buildings and equipment, university officials said. The year 2000 was the university's biggest fundraising year ever, with $580 million raised.

"Stanford has initiated some very exciting curricular and programmatic initiatives that motivated our generous donors to invest in the university this year, despite the recent dip in the economy," said John Ford, vice president for development. "Critical to our success were the thousands of dedicated alumni who made annual gifts in 2003."

The university took in $56.6 million in bequest gifts last year, of which nearly $30 million went to the endowment. The year also was good for the university's annual funds; $43 million in expendable, annual gifts will provide discretionary support for the president, provost and deans. Most notably, gifts to The Stanford Fund for Undergraduate Education increased by 5.8 percent to $16.3 million, an all-time record.

Bill Landreth, chair of the Development Committee of the Board of Trustees, said, "I am proud that so many of our alumni have chosen to continue supporting excellence at Stanford this year."

Two major multiyear initiatives helped buoy the year's totals, university officials said. Donors continued to support The Campaign for Undergraduate Education (CUE), a five-year effort to raise $1 billion exclusively for undergraduate education, which helps to support programs like Stanford Introductory Seminars, Sophomore College, Undergraduate Research Programs and Overseas Studies. As of Aug. 31, CUE had raised a total of $889 million in gifts and pledges. The campaign runs through Dec. 31, 2005.

Donors also supported the $300 million Hewlett Challenge for the School of Humanities and Sciences, a campaign that was announced in May 2001 and has attracted $54.4 million in new gifts and pledges for the school to date. The $54.4 million will earn matching funds of $52.7 million from the Hewlett Foundation. The Hewlett Challenge is enabling the school to raise gifts for objectives such as new professorships, graduate fellowships, the Institute for Research on Women and Gender and unrestricted endowment.

Isaac Stein, chair of the Board of Trustees, noted the tremendous impact of the gifts on Stanford.

"Gifts to CUE are funding programs like Freshman and Sophomore Seminars and Undergraduate Research Programs and providing scholarships for hundreds of undergraduates," Stein said. "Investments in innovative multidisciplinary initiatives like Bio-X have the potential to help Stanford literally change the world. Our donors find great satisfaction in underwriting such activities."

Some highlights from 2003 include:

• Additional gifts made to the Spence Faculty Fund in the Graduate School of Business, which was created in 2002 to celebrate former GSB Dean A. Michael Spence and his Nobel Prize in economics. The fund helps underwrite the recruitment, research, case development and teaching of junior faculty. Each year a rising star who is on the tenure track or recently tenured but not yet a full professor will be named the A. Michael Spence Faculty Scholar to recognize his or her excellence in scholarship and teaching and potential for future faculty leadership. In the first two years, supporters have given $8 million to the fund.
• A $12 million gift from an anonymous donor to launch the Institute for Cancer/Stem Cell Biology and Medicine, which will encourage breakthrough translational research for investigators who are trying to clarify the relationship between stem cell growth and cancer development. The institute, directed by Dr. Irving Weissman, the Karel and Avice Beekhuis Professor of Cancer Biology, is designed to provide an environment that promotes the discovery of new ways to treat and prevent cancer and other diseases. Said Weissman, "By applying stem cell studies to cancer, we are creating a unique approach to understanding and addressing some of the most difficult challenges in medicine and laying the groundwork for new therapies."
• A $4.8 million grant from the Bill and Melinda Gates Foundation to help the School of Education fund two initiatives to reform K-12 schools. The first is a California Schools Redesign Network and Performance Assessment Collaborative that helps school leaders across the state redesign schools to achieve more powerful learning outcomes with diverse learners. The second initiative is a charter high school in nearby East Palo Alto that operates in collaboration with the School of Education.
• Two gifts totaling $4.5 million will help Stanford strengthen teaching and research in the important field of Islamic studies. (The grants were detailed in the Stanford Report on Sept. 24.)
• As part of its $25 million gift to CUE, the David and Lucile Packard Foundation established a $3 million diversity fund to help increase the number of women and minorities enrolled in the School of Engineering.
• A $1.4 million gift from alumnus Thomas K. Montag, '79, paid for a new state-of-the-art video board and scoreboard installed last month at Stanford Stadium.

• University receives $9 million for new Islamic studies program, professorship (09/24/03)