On April 12, the annual fundraising extravaganza known as GivingToHoosDay began. It is a broad and well-publicized pledge drive which seeks to raise money for schools, programs and projects across Grounds, and allows supporters to choose which school or program to support. This year over $2.8 million was raised on April 12 alone, with over $3 million being given overall. While the University deserves support, this exorbitant fundraiser falls outside of the purpose of charity, and ultimately directs money away from worthy causes around Grounds and the world.
First, it is important to look at the purpose of charitable giving. Charity implies giving to a worthy cause which is struggling to carry out its purpose. The dual criteria of worthy cause and actual need ought to be met before one decides to give a charitable gift. In this instance, the University is certainly a deserving recipient of gifts, but cannot be considered to be in need of funds. The educational experience the University provides is invaluable and fosters an environment of personal responsibility and growth.
However, the University cannot be considered to be in need by any metric. The University is blessed with an endowment in excess of 7 billion dollars. The return on that investment in 2016 was over $100 million. The endowment is in the top 20 endowments in the United States, top five in terms of public schools and is the largest endowment per student. Furthermore, the Strategic Investment Fund, initially labeled by many a “slush fund,” has attracted widespread attention. It contains an additional $2.3 billion for general University improvements and projects. The University is one of the wealthiest universities in the nation. This is not all negative, as the large endowment allows it to aid disadvantaged students by currently accepting need-blind and meeting 100 percent of demonstrated need. Nevertheless, the University continues to knock on the doors of parents and alumni. To borrow the University’s own admissions jargon, there is insufficient demonstrated need.
This is not to say giving to the University is necessarily bad, but it is worth considering whether it is the most effective target of charitable contributions. Is the Center for Politics more deserving of support than The Haven? The McIntire School of Commerce and the Heritage Theater Festival are doubtless important, but one cannot objectively say they are more worthy than the International Family Medicine Clinic or the Blue Ridge Area Food Bank. The point is not that all money donated to the University is a waste — where we give our money is important and deserves to be scrutinized.
So what’s the big deal with the GivingToHoosDay? The problem is the University unnecessarily elevates this fundraiser and makes it into a big deal although it doesn’t fit the traditional idea of charitable giving. President Teresa Sullivan even established a $100,000 matching gift challenge. Clearly this fundraising campaign is very important to the school, even though it only brought in approximately a tenth of a percent of the school’s annual budget.
Instead of encouraging giving to the school in general, the administration should consider highlighting portions of the University which are legitimately underfunded or worthy of support. For example, Madison House connects countless students with programs and organizations around grounds and Charlottesville which service the community. There are many important research opportunities which are forgone due to lack of funding — the University should highlight those more specifically than it does in GivingToHoosDay.
If people wish to give to specific schools, libraries or film festivals, they should be able to, but the University should not put these on the same level as programs which truly fit the definition of a charity and are in legitimate need. GivingToHoosDay can and should be replaced by a fundraiser which fulfills the purpose of charity and is impactful to the University community. Money talks, and the current fundraising model of the University speaks more of the frivolous wants of the school rather than of the legitimate needs of the community.
Connor Fitzpatrick is an Opinion viewpoint columnist for the Cavalier Daily. He can be reached at opinion@cavalierdaily.com.
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