Donor Generosity

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Good news from Tracy Barlok


Winter, spring, summer, fall — Holy Cross is home!

A Message from Vice President for Advancement Tracy W. Barlok P19

It was a record-breaking year for Holy Cross! A total of 21,074 alumni, parents, students, employees, and friends made gifts to the College, and we once again surpassed 50 percent participation in alumni giving. Give Purple, our challenge held during Winter Homecoming weekend, was an enormous success, building pride and excitement in our community. And we kicked off the public phase of the Become More campaign, an effort that will strengthen every dimension of the Holy Cross experience.

We had a record year in total giving to Holy Cross with $46.7 million raised. $9.6 million was directed as current-use dollars to the Holy Cross Fund and $1.6 million was designated to the Crusader Athletics Fund. 427 members of the class of 2016 made a gift to the school, setting a new modern-day high participation record for the senior class gift effort at 60.3 percent. Holy Cross parents also supported the College at record levels and the Senior Parent Gift topped $1 million for the first time in our history. Many alumni and friends supported the College through life-income arrangements and we are especially grateful to those who remembered Holy Cross in their estate plans.

Our alumni and parents participated in more than 240 club events throughout the year, ensuring a continuum of positive influence intellectually, professionally, and socially. And, our Holy Cross brand certainly gained national attention during our March Madness NCAA Men’s basketball run!
The many successes of the past year illuminate a new era that is dawning on Mount St. James. Appropriate to our Jesuit tradition, we are becoming more. This process of transformation is exciting and uplifting. The sense of our momentum as an institution that is expanding and deepening its core strengths is palpable.

Our goal for the future is nothing less than the betterment of our world. And to witness the passion of the Holy Cross community as it engages with this process is thrilling and inspiring. Your belief in the mission of this College is what sustains and encourages us all as we immerse ourselves in this important and joyful work.

I am incredibly grateful for the hard work of my colleagues in Advancement and across campus and especially to the many extraordinary volunteers who ensure engagement and support of the College remains top of mind. We know we cannot bring Holy Cross into the future without your support and involvement. All of your efforts on behalf of Holy Cross are truly appreciated and valued.

As we welcome the Class of 2020 later this summer, we will remind them that this College is in a position of great strength precisely because of your love, participation, and support. Your example, your faith, your integrity, and your sense of responsibility inspire our students as much as any other lesson they learn here. Thank you.

I hope you enjoy this video — and that it reminds you of why you love Holy Cross.

here's the video

...................dancers and mystics; and a high school rink.

I have been wondering why the campaign was only $400 million when 75% of that was raised in the precampaign phase.  Is the goal to blow through the $400 million number and then congratulate themselves on beating it?  I have a problem with that.  I also have a problem with most of the $400 million being allocated to various projects and initiatives.  Only $110 million is aimed at unrestricted funds and they will probably allocate the annual fund contributions for a few years to it.  That means they are really only talking about $75 million in unrestricted endowment increase.  That's not enough. They need to get the endowment over $1 billion both because the increased income can be used to improve financial aid and because it would be a nice marketing tool. 

Hire four more leadership giving officers and kick some butt. 

alum, it was $250 million in July 2016, so $60+ million more in 16 months. It would be my guess that they hope to reach $425 and $450 million.

For perspective, net assets were valued at $595 million on July 1, 2006, and $955 million on July 1, 2017. Net assets would include the endowment, but also the depreciated value of buildings, and equipment. Some of the contributions to the campaign are being recorded in net assets, such as donations for Luth, and not as part of the endowment.
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The value of HC land (which is not depreciated) increased from $4.0 million on July 1, 2016 to $5.75M on June 20, 2017. Most of that appears to reflect the Joyce land. I am not an accountant, but I believe land is valued at its initial acquisition cost, and not the current appraised value.

The endowment provides income that helps people pay $64,000 per year for college.  The land and buildings are just ways of attracting , housing, and keeping students.   The endowment is not big enough.  The College does an amazing job at generating small gifts and lately has generated some big ones to pay for capital projects, but it needs to grow the unrestricted endowment by $300 million.  PP tells us that the College uses 4.5% of endowment each year.  A $300 million increase in unrestricted funds would generate $13,500,000.  You could replace $5000 loans with grants for 2000 students ($10,000,000) and offer 53 more athletic scholarships--that's 13 per class.   

Our friend hcpride would have some more ammunition to use as he persuades those Mid Atlantic kids that alma mater is a better place than Villanova and a bunch of posters would stop asking that we drop all of the "minor sport" when we win an occasional league title in soccer, lax or hockey. 

Here is a list of colleges with endowment per student.   www.reachhighscholars.org/college_endowments.html

HC can do better.  Raising this kind of money doesn't usually happen overnight, but it has to go on year round and not just during campaigns.  

alum, I concur.

HC seems to be making progress though. Below is the amount of financial aid awarded in 2016-17 for six similarly sized institutions.

Middlebury $67.1M (2500 students)
Furman $60.8M (2700 U/G; 3000 total) 2016 fiscal year
Colgate $58.6M (2900 students)
Wesleyan $57.3M (2900 students)
Holy Cross $54.0M (2900 students)
Lafayette $43.2M (2500 students)

wow !
what a long running soap opera

I believe the Lift High the Cross Campaign, our last major campaign, which ended in 2006 raised $216 million, exceeding our goal of $175 million.  I thought at the time, and still do, that it was an outstanding achievement.  To already have raised another $310 million so quickly thereafter is really remarkable.  Much of the groundwork, and heavy lifting, for these campaigns is done in the quiet phase.  Increasing the endowment by $75 million would be a big jump.  Not that we shouldn't want to do more, but I do take my hat off to our very generous donors.

Are we finally getting our Japanese Tea Gahhden?

Well, I suppose the Holy Spirit could descend on this alum to donate big bucks to his alma mater but I wouldn't count on it. "Frugal" is for people with no money and is a virtue. Cheap is for people who have lots of it but won't spend it. 

It made me smile to see that we have an active discussion going on a thread started by Father K!