JMU receives record $10 million in this year's private giving

JMU received a record $10.3 million in cash and pledges in
2003-04 -- an increase of more than $600,000 over last year's previous record of $9.7 million.

"We're excited to see totals like these, particularly at a time when the national economy was sluggish during much of the year," says Joanne Carr, senior vice president for university advancement. "These historic gift totals reflect the great affection JMU alumni, friends and parents of students hold for the university. Increased private funding is essential for JMU to maintain a high level of excellence."

The record total was fueled by more than $4 million in capital gifts, including several seven-figure contributions. The largest increase in any area of fund raising came in planned gifts, where $2 million was raised compared to $159,000 the year before. Giving through annuity or trust agreements or through bequests is an increasingly popular method of supporting the university, according to Carr. Gifts from corporations and foundations also significantly increased -- from $433,000 to $1.4 million.

JMU's endowment grew by $4.6 million, bringing the total to $28,415,234 at the end of the fiscal year. This growth was fueled by a combination of new gifts of $2 million and earnings on the fund of $2.6 million, which out performed the market in general.

The university is raising some $10 million that will go toward the construction of two major arts facilities: the Dorothy Thomasson Estes Center for Theatre and Dance and a music recital hall. Private funding is also playing a major part in the construction of the Robert and Frances Plecker Athletic Performance Center.