With more donor participation than ever before, the Brown Annual Fund set a new record for the ninth straight year when it raised $22.9 million for 2003-2004, surpassing its goal by over $1 million.
Started in 1914 as the alumni "Loyalty Fund," the Brown Annual Fund is the primary means for alumni and parents of students to support the University. Money from the fund comprises a substantial portion of the University's operating budget every year. In 2004, the fund had 27,278 donors, more than 500 of whom contributed more than $10,000. This latter group, known as the Brown Annual Fund Leaders, has nearly tripled in size in the last four years and gave $14.5 million in 2003-2004.
Reunion classes were also largely responsible for the Annual Fund's growth, contributing $6.5 million. The Class of 1979 alone raised $1.7 million in honor of its 25th reunion.
According to Jerome Vascellaro '74 P'07, who has chaired the Annual Fund for the last three years and is a previous president of the Brown Alumni Association, the Annual Fund's recent success can be attributed to a combination of factors.
"It has a lot to do with our president," Vascellaro said. "When Ruth (Simmons) came on board, she really (inspired change), in terms of her own excitement that she brought to campus about who she was and the agenda she had for Brown. She was a strong verbal champion for the Annual Fund."
Many of the programs Simmons wanted to start under the banner of academic enrichment - need-blind admissions, more professors, new buildings - needed funding, and the Annual Fund was the "best and closest" source, according to Vascellaro. "I think that message did get across to the alumni and parents," he said.
"One of the key elements of the Plan for Academic Enrichment is not what we're going to do, but actually strengthening our overall financial stability," said Executive Vice President for Finance and Administration Elizabeth Huidekoper. "Part of the plan is strengthening our revenue sources - significantly increasing the Annual Fund and Brown's endowment," she said.
Money from the Annual Fund is unrestricted. Unlike federal funding for research that can only be used for certain things, the University can spend money from the Annual Fund on just about whatever it wants - in this case, "the hiring of faculty, endowing positions that aren't endowed, anything to strengthen student support," Huidekoper said.
Those making donations to the 2003-2004 Annual Fund were further inspired by two challenges proposed by Brown alums. Charles M. Royce '61 offered to donate $500,000 if the number of donors surpassed 26,391, which it did for the first time since 1996.
An anonymous alum also extended a challenge to alums who graduated in the last 10 years. Known as the Graduates of the Last Decade Participation Challenge, it promised to match donations from graduates of these classes dollar - for-dollar up to $500,000. This incentive was met with such strong response that the alum increased the challenge to $650,000 in May. Overall, gifts from undergraduate alums in these classes increased by 24 percent in 2004.
"One of the things we started to do was try to get a couple of challengers every year," Vascellaro said. "We do believe they stimulate donors toward a very admirable cause - part of it is the excitement, that the Annual Fund has been growing. I think it creates a little bit of a buzz, to be honest. They want to be part of it, contribute, do something that is important to Brown."
Last year marked Vascellaro's third and final year as chair of the Annual Fund. Under his leadership, donations to the Annual Fund increased by 52 percent, and the number of donors increased by 40 percent.
Thomas Berry '69 will succeed Vascellaro as chair, with a goal of 28,000 participants and more than $25 million in 2004-2005.
