Foundation Fund Sustains its Success in FY '12
October 02, 2012
If you asked any of VMI’s leaders what the Institute prized financially, the answer most likely would be, “Unrestricted money.”
The basis of this answer could be summed up one word, “flexibility;” unrestricted money can be used where it is most needed at VMI. In the current academic year, for example, VMI will use $1.3 million in unrestricted money to provide financial aid to cadets and another $410,000 to supplement the salaries of VMI’s faculty.
Much of the unrestricted money that is so important to the Institute comes from the Foundation Fund, the annual effort to raise this type of revenue conducted by the VMI Foundation. In Fiscal Year 2012, the Foundation Fund received $2.69 million from more than 4,100 donors.
This result is no outlier. Over the past four years, the Foundation Fund has raised an average of $2.55 million every year, and the average number of donors has been a little more than 4,100.
Many people have a share in the Fund’s continued success, according to Brian Scott Crockett, chief executive officer of the VMI Foundation. “Our Annual Giving team, led by Pat Webb, aggressively presents the facts about Foundation Fund’s importance to the entire VMI Family. Class Agents were key players as they made the case for supporting VMI to their Brother Rats. Finally, the effort has received sustained support from many people on Post, such as Amy Goetz and Kate Crossman of the VMI Communications & Marketing.”
Mr. Crockett, however, pointed out that the lion’s share of credit for the Foundation Fund’s sustained success is owed to “the alumni and friends who understand VMI’s needs and are willing to make an unrestricted gift in order to help VMI meet them.”
“Their generosity is deserving of praise from every member of the VMI Family,” he concluded.