Testimony, March 2005, Office of the President, University of Maryland

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Meeting the Challenge

The University has marshaled its human and financial resources and ingenuity to protect the quality of our educational programs and major initiatives, and we are aggressively working with maximum commitment to maintain our momentum. In this section, I will outline how we have faced the challenge of budget cuts and found ways to help ourselves.

Creating a Culture of Gift-Giving

Though many generous friends and alumni have long supported Maryland, most alumni and friends have not viewed the University as needing philanthropic support until recently. As the University's reputation for excellence has grown, we have reaped the benefits of growing pride and interest from our friends and stakeholders. The contribution of private donors becomes ever more crucial as the State decreases its share of support. The University has worked on many fronts to nurture external support, with some exciting results.

Marking $60 Million in Historic Gifts. On February 3, we announced the largest private gifts in the State's history to a public institution from two alumni and donors who have already etched their mark in the University's remarkable rise: $30 million from philanthropist Robert H. Smith ('50) and $30 million from construction giant A. James Clark ('50). These two committed believers in the University's potential for greatness have generously also agreed to serve as Co-Chairs of the silent phase of a major campaign being initiated by the University.

Launching a Major Campaign. With the leadership of the University of Maryland College Park Foundation Board of Trustees, we are initiating the largest capital campaign drive in University history to increase substantially our annual fund and endowment resources. Thanks to the gifts of Mr. Smith and Mr. Clark, and a successful first six months, the campaign has commitments in excess of $100 million. It will be launched publicly in Fall 2006.

The growing support of friends and alumni shows:

In FY04, we raised $85.7 million, compared to $70.9 million in FY00.
In FY04, our donors numbered 42,000 compared to 24,500 in FY00.
In FY04, our endowment totaled $293.3 million compared to $277.4 million in FY00.
In FY04, we had 32,500 members of the alumni association compared to 28,500 in FY00.

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Office of the President, University of Maryland, College Park, MD 20742