Washington College received a total gift income of $15,624,186 this year, up about fifty-eight percent from the school’s total gift income last year.
President Tipson said the majority of the money the college receives comes from people leaving donations in their wills.
Tipson also stated that, even though there has been an increase in income this year, it, “doesn’t really mean anything.”
“The development office staff engages in one-on-one solicitations of major individual donors, submission of proposals to corporations and foundations, and broad-based appeals to alumni, parents and friends, said Vice President for College Advancement Beth Herman.
Herman states that the objective of the development office, “is to increase the level of total gift income support, both today and in the future.”
Tipson believes the developmental office’s work at recruiting donations, both now and in the past 20 or 30 years, has helped WC receive these charitable donations.
“[Donating is] a wonderful way for people to express their love for Washington College,” said Tipson.
Herman said, “event fundraising is often among the least cost-effective strategies for raising gifts.”
Despite the previous, WC does not create events specifically to earn money for the gift income fund. In fact, Herman said that the college creates programs that amplify the school’s main features such as its academic programs and its relationship with the community, friends, and alumni. Many of the school’s benefactors donate money to specific groups within the school.
Other donations are given to the school to fund a campus project or to fund scholarships in various departments, said Tipson. Herman stated that the Washington College Fund currently accounts for almost two percent of WC’s operating budget per year -- more than one million dollars.
The school expects it to reach five percent in the near future, said Herman.
“Fueled by repeatable annual gifts from alumni, parents, and friends, The Washington Fund provides flexible, budget-relieving support for College programs,” said Herman.
While the Washington College Fund realized it may not receive as many grants this year as in previous years, it surpassed its goal of $10 million and raised a total of $15 million, said Herman.
Tipson stated that one quarter to one third of the money donated each year to WC comes from Washington College’s Board of Visitors and Governors; there are many individual contributors as well. According to Herman, this year, the school received $4.2 million from The Hodson Trust, the Hodson Scholarship Foundation, and from the estate of Virginia G. and Alonzo G. Decker. Herman also said that Charlotte and Mary Fletcher left the school a total of $1.2 million.
When asked how the school could improve in raising money Herman said, “we believe that through increased involvement and interest we will attract more and bigger gifts to the College...You are our future alumni; the more you understand the importance of giving, the better your college will fare.”
300 Washington Avenue, Chestertown, Maryland 21620 | 410-778-2800 | 800-422-1782