The Board of Visitors’ Advancement Committee reported Thursday that the University successfully surpassed the Honor the Future campaign goal of $5 billion in December with a campaign total of $5.7 billion. The Committee also heard from Kenyon Bonner, vice president and chief Student Affairs officer, on the Cavalier Fund, the undergraduate student grant program which provides students with up to $1,000 in funding per academic year to support their participation in co-curricular activities.
The Advancement Committee is responsible for overseeing the University’s fundraising, alumni affairs and capital campaigns. The Committee also supervises the University’s public communications, as well as University foundations and their fundraising efforts.
The Honor the Future campaign is one fundraising effort overseen by the Committee. The campaign began in 2019 and aims to financially support an environment where education, democracy and research can thrive. Funding from the campaign has been allocated to every undergraduate and graduate school at the University, as well as to the construction of the School of Data Science and the Contemplative Sciences Center.
Vice President for Advancement Mark Luellen gave an update on the University’s fundraising and campaign progress at the meeting.
Donations primarily come from alumni, parents and friends of the University. Luellen announced that since July 1, there has been a total of $475 million in commitments to the Honor the Future campaign, 25 percent higher than the University’s five year average in total commitments for this point in the fiscal year. Furthermore, January’s total commitments were up 135 percent for a total of $55 million.
“I’m particularly thankful for our donors and those who have been extremely generous,” Luellen said. “A lot of hard work around Grounds, from the people on my team, from the foundations, from the deans … I think that's what's helping us continue to outpace our numbers.”
As a goal for the campaign, the University aimed for 250,000 individual donors. As of a couple weeks ago, the University surpassed this goal and is now at 252,000 individual donors, according to Luellen. Of these gifts, 80 were $1 million or more.
Luellen also announced at the meeting that the College and Graduate School of Arts and Sciences recently surpassed their goal of $750 million in commitments. Each college in the University has an individual fundraising goal designed to contribute to this campaign. He thanked Committee Vice Chair John L. Nau for his support for the College specifically.
“As someone who was formerly a fundraiser in [the College of] Arts and Sciences, this is tough money to raise,” Luellen said. “But we've had a lot of support, including from Mr. Nau to continue to grow this area of the College.”
Luellen said that a major goal of the Honor the Future campaign was to reach 20 percent undergraduate alumni participation via donations by the end of the campaign. The University is currently working to meet this goal before the end of the fiscal year, with alumni engagement 12 percent ahead of last year’s rates.
Luellen attributed the increase in alumni participation to the recent elevation of the alumni event experience. So far, the University has organized 685 alumni events this fiscal year.
“It's been a great way for our alumni and friends to hear more about not only our goals and priorities, but also our ambitions as we go forward,” Luellen said.
Bonner provided an update on the Cavalier Fund — a grant program that aims to ensure that all undergraduate students have access to a similar educational experience, regardless of financial resources. The program is managed by Hoos First, the University’s hub for first-generation and limited-income students.
Students may apply for and receive up to $1,000 in grant funding per academic year to engage in the various co-curricular activities that the University offers and in the hopes of enhancing their educational experience. To be eligible, students must have current demonstrated financial need per Student Financial Services.
According to Bonner, these co-curricular activities may include student recreational experiences, Contracted Independent Organization membership, sorority or fraternity membership and service opportunities.
“We recognize that these types of activities are meaningful to students and often contribute significantly to the overall student experience they enjoy at U.Va.,” Bonner said. “But incidental costs may prevent some students from taking full advantage of these opportunities.”
Since University President Jim Ryan announced the fund in 2022, it has accrued $12 million for its endowment of its $30 million goal. Luellen attributed this progress partially to parents of current students.
“We're seeing good progress there, I would say, particularly with parents of current students,” Luellen said. “A lot of them are very interested in supporting this, so other students may have the experience that their children have as well.”
Bonner noted the importance of this program in ensuring that undergraduate students can take advantage of the opportunities available to them at the University.
“I think the foundational principle of the Cavalier Fund is that it provides our students the opportunity to not just survive when they are here at U.Va., but to thrive,” Bonner said.
The Advancement Committee will reconvene during the meetings of the Board on June 5 and June 6.
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