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University Advancement

Department explains the use of fundraising for endowment and scholarships

Keith Wallach, Co-Editor in Chief

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In light of future budget cut to the College of Arts and Sciences, the Department of University Advancement has been busy fundraising to offset the budget and raise the school’s endowment. Vice President of University Advancement Cassie Warman explained that Boxer Giving Day is not the only type of fundraising that the development department does. Currently Warman and her team are focusing on early donors to invest in the university to raise the endowment. “We have a goal to raise more endowed funds for the university so that we can provide more scholarships to students,” Warman said.
Endowment does not only benefit student scholarships but also professors. For example, there in a new endowed chair in the College of Business, which essentially means the endowment will help pay for the salary of the Dean of the College of Business. 
Warman added that this is an example of offsetting the budget because part of the salary is now coming from private dollars and not out of the university’s budget. “About 4.5 percent of the money that is in each [endowment] account goes to the respective deans to spend,” Warman said. “Can this help offset the budget? A little bit, it will offset some of the costs.”
Warman also said the budget cutting is more of an act of balancing. The university asked all the deans, directors and vice presidents what they want for the year and what they need. The deans and others came up with a list worth about $10 million more in expenses so the university was tasked with finding out how to balance that 
without raising tuition too high in all programs. 
The Annual Giving Team works hard to obtain unrestricted dollars for the Pacific Excellence Fund according to Warman, this is the type of money that can be directly used to offset budget cuts and fund a vast array of things. The university raised over $4 million last year. 
Of that, a significant portion of about 30 to 40 percent goes to the endowment and 4.5 percent of that money is funneled right back into Pacific’s budget. The Pacific Excellence Fund provides just under 400,000 unrestricted dollars was able to go right back 
into the budget to fund things. Direct mail is one primary way potential donors can give back to the university in the Pacific Excellence Fund. This is where alumni and other supporters can give to the university for scholarship endowments and that makes for tuition to not be raised. 
Direct mail and donors are not the only things that the Office of Development and University Advancement use to fundraise. Other fundraisers include Phonathon. According to Warman and Jan Stricklin, associate vice president for University Advancement 
and campaign Director, there has been a 48 percent increase in gifts and pledges in the last five years, raising our endowment to close to $70 million at the end of December 2016.
“What we want students to know is our whole passion is making sure we raise money for students,” Warman said. “Growing the endowment is not to just have a big endowment, it is there to make sure you do not graduate with a huge student debt loan.” Warman and Stricklin both added donors really respond to giving scholarships and want the thrill of helping students just like they were helped. This is not possible without a strong endowment.
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