Oct. 7, 2003

Centuries Campaign Over the Top

With GW’s Centuries Campaign now concluded, Vice President for Advancement Beverly Bond answers some of the most frequently asked questions about the campaign.

Q: Eighteen months ago, GW’s Centuries Campaign had reached $425 million of its goal. What is the status of the Campaign now?

BB: The Centuries Campaign was successfully completed this summer. In September 2002, the $500 million goal was reached nine months ahead of schedule and, by the close of the Centuries Campaign on June 30, 2003, the final count was $552 million.

Q: What needs did the campaign help to meet?

BB: The Centuries Campaign was a comprehensive campaign. That means gifts, pledges and grants from all private (non-government) sources for any purpose were included. Commitments have been made in support of a wide array of University priorities falling into three overall categories: facilities, endowment and current operations.

The facilities include a new mid-campus quad, a Media and Public Affairs Building, a Health and Wellness Center, renovations and additions to the Law School, a new home for the Elliott School of International Affairs and a new facility to be built for the School of Business and Public Management.
Commitments to the endowment comprise 29 percent of the campaign total. More than 391 new endowed funds, including 170 scholarships and fellowships, more than 30 chairs and professorships, and 125 funds for designated schools and departments are being established.

Gifts, pledges and grants for current use totaled $354 million. “Gifts for current use” include the “annual fund” and other gifts for operations such as school programs and priorities, financial aid and research. Individuals — particularly alumni, parents, trustees and others associated with the University — have been increasingly supportive of these needs. In fact, since the beginning of the campaign, more than 3,000 have joined the ranks of GW donors.

Finally, the University has been successful in competing for gifts and grants from national corporations and foundations. Ford Motor Company, Robert Wood Johnson Foundation, Howard Hughes Medical Institute, Henry Luce Foundation, Hyundai and Kia Motors, MSNBC.com, MacArthur Foundation and Science Applications International Corporation are among those now investing in GW.

Q: How has the campaign been conducted?

BB: Leadership has been vital throughout the campaign. The tireless energy, devotion and vision of President Trachtenberg cannot be overstated. Central to the success, as well, is the work of outstanding deans, talented faculty and a dedicated staff. This includes Mike Worth, who served as vice president of alumni and development from the outset of the campaign through June 2001, when he left this post to join the faculty full time. Finally, there is the Board of Trustees. Chairman Charles T. Manatt served as the campaign chair beginning in 1996 until his appointment as US Ambassador to the Dominican Republic. At that point, Joseph Brand led the campaign to its conclusion. Oliver Carr, also a former chairman of the Board of Trustees, chaired the first phase of the campaign.

Q: With a successful campaign, why are there still so many budget constraints?

BB: Of course this question is much too big for me to answer alone, but it gives me an opportunity to address the issue of the lifespan of a campaign. Comprehensive campaigns cover multiple years. For the most part, gifts made for current operations have likely already been spent. On the other hand, some money hasn’t yet been received. Pledges are generally payable over five years. And with respect to planned gifts — gifts made through bequests, charitable trusts and annuities — the money won’t be available for use until the donor or his or her designee has died. Moreover, a university’s needs and opportunities will always exceed the amount of money that can be acquired from philanthropy.

Q: Facilities are the most visible designations of the campaign gifts, but the building campaigns don’t account for the largest portion of the total. Is this because buildings are less appealing to potential contributors?

BB: Not at all. In fact, facilities for academic purposes are very attractive funding opportunities for philanthropy. They are tangible, and they can have a critical impact on recruiting and retaining students and faculty, not to mention the favorable effect they have on teaching, learning and discovery. However, constructing or renovating buildings requires large sums of money. There are simply far fewer people capable of making upper level gifts necessary to fund construction.

Q: There’s been a lot of attention paid lately to the value of university endowments. How has the campaign affected GW’s endowment?

BB: $158 million has been pledged or committed for endowment gifts. Since gifts to the endowment are invested, with only earnings and not the principal being spent, these gifts need to be larger, generally speaking, than those for current operations. Much of the endowment support has come in the form of “planned” or estate gifts. I’ve been particularly inspired by the fact that some of the campaign’s largest commitments for endowment were made by those who know the University’s qualities and needs best of all — faculty members. The stories of many of those who have made endowment gifts are moving and powerful, and I hope to be able to share some of them in the future.

Q: What lies beyond the Centuries Campaign?

BB: The end of the Centuries Campaign signals the beginning of a new era. One measure of a successful, comprehensive campaign is not simply the number of dollars “raised” at the finish line, but what the campaign did to enable stronger fundraising for the future. When this campaign began, GW annually was receiving gifts and grants totaling between $20 and $25 million. This past year, the total was $59.3 million. This demonstrates a growing level of appreciation of the University’s work and the investment required to sustain it. We must continue to nurture and build on this momentum.

Send feedback to: bygeorge@gwu.edu