In direct response to the College's recent budget troubles and inspired by a little friendly competition in the tradition of reunion fund-raising, several alumni classes have raised record-setting amounts of money for Dartmouth.
For its 25th reunion fund-raising campaign, the Class of 1978 donated $14.8 million to the College, by far the largest amount given by a reunion class. The Class of 1968 brought in nearly $10.5 million, more than any other 35th reunion class so far, while the Class of 1953 presented the College with $12,553,053 in celebration of its 50th reunion.
This year's reunion fundraising was remarkable not only in terms of total money raised but also in terms of in the amount given as unrestricted gifts -- money that goes directly into the College's operating budget instead of being earmarked for the projects as outlined in Dartmouth's capital campaign. Funds raised in the capital campaign go toward financial aid, construction projects and faculty positions, while unrestricted gifts may go to any area alumni see fit to designate their money for.
Of $14.8 million given by the '78s, $6.2 million is unrestricted for current use. The Class of 1951 gave over $2.5 in unrestricted money, while the '68s designated over $1.3 for the College budget. And although no specific area stood out as most being most frequently earmarked by alumni as a destination for their donations, Vice President of Development Carrie Pelzel said, the spike in the total of unrestricted donations indicates an awareness on the part of alumni that the College budget cuts call for dramatic action.
"They're aware of the role charitable gifts play in sustaining a first-rate education," Pelzel said. "They're aware of the downturn in the economy," she added, saying they "were really inspired to give back to Dartmouth to make the experience of current students as strong as the experience was for them."
The $6.2 million in unrestricted gifts given by the Class of 1978 tops the nearly $6 million recently given to Princeton University by one of its reunion classes.
"Dartmouth and Princeton aren't the largest of the eight Ivies," said Bruce Rauner, a member of the Class of 1978's giving committee. "Person for person, though, our alumni are among the most generous. Our class just decided to up the ante."
Such broad-based giving was one key feature of the reunion classes' two-pronged approach to fundraising, Pelzel said. The other was large gifts.
"All the classes understood the importance of both," she said, citing the innovative combination of the two strategies encouraged by an anonymous member of the Class of 1978, who promised to contribute large unrestricted sums if over 45 percent of the class made donations. For every five percentage points over 45 percent of the class, the donor pledged $100,000. With almost two weeks to go before the end of the campaign at the end of June, nearly 60 percent of the class has donated money.
The Class of 1978 presented its gift to College President James Wright at a commemorative 25th reunion dinner held on June 14. Wright praised the extent and timing of the gift, which he said would go far in helping the College realize its mission in a time of economic hardship.
Alumni instrumental in organizing the fund-raising campaigns said their classmates' contributions indicate the strong impact Dartmouth had on them.
"The gift speaks volumes about how my classmates feel about Dartmouth," said Jeffrey Immelt, CEO of General Electric and a member of the Class of 1978 Reunion Giving Committee. "Twenty-five years ago, this place changed our lives. We've always given to say 'thanks' -- in good times and bad."
