INSIDE BINGHAMTON UNIVERSITY
A new fund-raising record
By : Staff report
With $17.3 million in support flowing in from alumni, corporations and friends in the 2003-04 fiscal year, Binghamton University is reporting its best-ever fund-raising season.
The $17.3 million figure reflects a 154 percent increase over the previous year and sits significantly higher than the previous record of just over $8 million, set during the 1999-2000 campaign.
“We are grateful to the numerous alumni, friends and organizations who believe in Binghamton so strongly,” said President Lois B. DeFleur.
“Their gifts were made because they support the quality, purpose and mission of Binghamton University.”
Major contributions to the University include:
• $1 million from the estate of Professor Emeritus Paul Weigand for Harpur College, offering scholarships and study-abroad grants for students in German, and for students involved in comparative literature who are majoring in German literature.
• $1 million from Ray and Wanda Osterhout for the School of Management to establish an endowed, distinguished professorship in entrepreneurial studies.
• $1.5 million from Seagate Technology to Harpur College in the form of ion bean deposition systems equipment to be used in the Physics Department.
• $3 million from UGS Corp. to the Watson School in the form of computer-aided design software.
• $3.77 million in research equipment donated by IBM to the Watson School and the IEEC.
“Successful fund raising enables us to continue to offer our students and faculty an environment that combines excellent scholarship with state-of-the-art facilities,” said DeFleur.
“We are able to offer more academic opportunities than ever before, which strengthens our position as one of the best public universities in the country.” Giving from corporations, alumni, and friends increased significantly, said Thomas Kelly, vice president for external affairs.
“There appears to be an upturn in the interest and willingness of donors to support Binghamton University,” said Kelly, “which is increasingly seen as a great asset to our community and to New York state.
“The increase in support can be attributed to both a resurgence in the economy,” he said, “and to the increasing efforts and hard work of everyone at the University involved in fund raising.”
That resurgent economy has led to an increase in the University’s endowment, valued at $46 million in 2003-04, up from just under $40 million the previous year.
“The strength of the University’s endowment is important because it ensures benefits well into the future,” said Kelly.
“Not only does it help students by allowing us to make investments in education we otherwise might be unable to do, but it’s also a major tool for the attraction and retention of excellent faculty.”