UNIVERSITY OF ARKANSAS ANNOUNCES THIRD BEST FUND-RAISING YEAR

FAYETTEVILLE, Ark. - Despite a troubled economy and a sagging stock market, the University of Arkansas recorded its third best fund-raising year ever in 2001-2002, attracting $63,660,414 in private gift support. The total is two percent higher than the $62.3 million raised in 2000-2001, the previous third best year.

The University of Arkansas totals include actual dollars or gifts-in-kind received during the period July 1, 2001, through June 30, 2002, and exclude any pledges of gifts made during that time.

The $63,660,414 million includes funds to two major areas:

1. $50,939,402 raised for academic and academic support programs, including women’s athletics. That amount - $939,402 over the goal for 2001-2002 - represents the second highest total in UA history for academic and academic support purposes. In 1998-1999, the University received $98 million, of which $85.2 million was designated toward academics. Fund-raising totals for 1998-1999 were boosted significantly by a $50 million gift (in October 1998) from the Walton Family Charitable Support Foundation for what was later named the Sam M. Walton College of Business.
2. $12,721,012 from the Razorback Foundation, Inc., a private organization that supports men’s athletics.

On April 11, 2002, University officials announced a $300 million pledge from the Walton Family Charitable Support Foundation. The funds are recorded as a pledge during the 2001-2002 fiscal year and will be recorded as a gift when the funds are transferred. In all, a total of $387 million was committed in pledges to UA programs during 2001-2002.

"We are extremely grateful to the thousands of alumni, friends, corporations and foundations who made private gifts to the University last year," said UA Chancellor John A. White. "The outpouring of private support allows us to compete with the nation’s best universities. Private support has a direct impact on the University of Arkansas as it positions itself to become a top-tier university and, consequently, private gifts contribute significantly to improving the state's economy and the quality of life for all its citizens.

"Private gift support is a critical complement to state funds. Such gifts bring us ever closer to realizing our vision for the twenty-first century, to emerge as a nationally competitive, student-centered research university serving Arkansas and the world," White added.

Of the $63.6 million raised in 2001-2002, 47 percent came from individual alumni and friends, while 39 percent came from corporations and foundations. Fourteen percent came from other sources.

"The results this year are particularly pleasing considering the state of the nation, economically and otherwise," said G. David Gearhart, vice chancellor for University Advancement. "We are most grateful that our benefactors continued to give generously in the face of such economic uncertainty. It is a clear indication that they enthusiastically share the vision for creating a world-class university for Arkansas and are stepping forward in increasing numbers to make that happen.

"I am also pleased that we exceeded our goal for academic support by nearly $1 million dollars. This is a tribute to the deans, our development staff and, especially, our benefactors who are determined to transform the University of Arkansas into an academic powerhouse," Gearhart continued.

Curtis Shipley, chairman of the National Development Council (NDC), the University’s volunteer fund-raising group, said, "On behalf of the National Development Council, I wish to extend our sincere gratitude for the leadership of Chancellor John White, to the deans, faculty, staff, and particularly, to all of our University and Campaign for the Twenty-First Century volunteers. The continued support of dedicated volunteers makes such a difference in the University’s fund-raising programs.

"I also want to commend Dave Gearhart and his staff for this extraordinary year. It is a real testimony to the development program that we can continue to push to new heights of achievement in fund raising," Shipley continued.

UA Men’s Athletic Director Frank Broyles said, "Contributions for our Foundation for our football, basketball, baseball and other men’s athletics programs continue to be strong. Although it varies a little bit from year to year for a variety of reasons, it continues to be very strong and we’re very appreciative for the support of our loyal alumni and friends."

Chuck Dicus, president of the Razorback Foundation board, said, "The Razorback Foundation, Inc. is extremely proud to play such an important part in helping with the Campaign for the Twenty-First Century. We all want to see our University achieve its goals and continue to prosper."

Gift designations for 2001-2002:

• Dale Bumpers College of Agricultural, Food and Life Sciences and the Division of Agriculture: $11,773,090
• School of Architecture: $1,899,742
• J. William Fulbright College of Arts and Sciences: $5,788,986
• Sam M. Walton College of Business: $5,682,869
• College of Education and Health Professions: $3,753,228
• College of Engineering: $3,795,630
• School of Law: $663,648
• Graduate School: $13,735
• University Libraries: $2,087,822

Gifts to other units:

• Men’s Athletics (Razorback Foundation, Inc.): $12,721,012
• Alumni Association: $335,448
• Chancellor’s Scholarship: $3,541,008
• KUAF Public Radio: $920,058
• General Scholarships: $2,559,662
• Student Affairs: $2,495,916
• University of Arkansas Press: $7,595
• University Wide: $3,556,046
• University/Razorback Bands: $33,751
• Women’s Athletics: $1,975,756

Private gift support 1998-2002:

Campaign for the Twenty-First Century report:

Since July 1, 1998, the Campaign for the Twenty-First Century has been raising gifts and pledges to help the University achieve its vision for the twenty-first century. Campaign funds are being raised for six critical areas of need: endowed faculty positions and scholarship funds, academic programs, University Libraries, new and enhanced academic facilities and equipment and annual giving.

As of June 30, 2002, the Campaign total stands at $642.7 million in gifts and pledges, which accounts for 71 percent of the $900 million goal in 57 percent of the time. The Campaign will conclude June 30, 2005.

Of the $900 million goal, $300 million must be raised exclusively for academic support - a condition of receiving the Walton Foundation’s $300 million gift - as part of The $300 Million Challenge. The Challenge total stands at $32,093,423; therefore, an additional $267,906,577 must be raised for academics and academic support programs by June 30, 2005.

Tommy Boyer, presiding Campaign co-chair during 2000-2002, said, "The Walton Foundation’s gift presents us with an incredible opportunity. It’s also a huge responsibility. We are challenging everyone - alumni, friends, faculty, staff, corporations and foundations - to help us raise $300 million for academics and academic support programs to meet The $300 Million Challenge.

"On behalf of the entire Steering Committee and all of our additional Campaign committees, I want to thank everyone who has participated in the Campaign for their support and promotion of UA students, faculty and programs."

Of the $387 million in pledges committed to the Campaign during 2001-2002, $329.9 million, or 85 percent, was designated by donors for the University’s endowment. Endowment acts like a permanent savings account to provide a perpetual source of income for such purposes as student scholarships, faculty chairs and academic programs.

"The rapid growth of the University of Arkansas endowment is key to realizing our goals for the University, particularly in our ability to attract and retain highly talented students and faculty," Gearhart said.

Campaign progress toward goal - as of June 20, 2002:

Campaign-to-date includes gifts and pledges from July 1, 1998, through June 30, 2002, and Razorback Foundation gifts from 1999 through the end of 2002.

Campaign total: $642,764,134 Campaign goal: $900,000,000