Cavalier Corner is the publication just for UVa sports fans!
Issue link: https://comanpub.uberflip.com/i/174129
Dear Cavalier Friends, Our Annual Campaign year has shifted into high gear as we prepare for the fourth quarter and strive to reach our goal of $14.9 million. We are grateful for the 7,500 donors who have already committed to the Cavaliers this year. With this support, we are able to provide an outstanding experience for over 650 student-athletes. There are a few statistics from our campaign year that you may find interesting: • Over 3,000 donors have taken the "I Give 110%" initiative, increasing their pledge by 10% over their 2012 gift • Through August 31, we have over 600 first-time donors and over 350 past donors who did not make a gift in 2012 but have renewed their support this year • The annual fund is tracking 2.7 percent ahead of the same time period in 2012 • Over 1,500 student-athlete alumni have made commitments totaling almost $2 million These statistics provide a great deal of positive momentum for the remainder of the year. To reach our target by December 31, we need to raise more money in the fourth quarter than we have ever raised during that time period. This is certainly a formidable task. Equally difficult is trying to keep pace with the continual rise in tuition. Earlier this fall, I was reminiscing with some student-athlete alumni from the early 1990s about the value of their out-of-state scholarship. One alumnus commented that he was trying to "pay back his scholarship," which was just over $40,000 for four years. His scholarship his fourth year was $11,000 – all funded by donors to the Virginia Athletics Foundation. Today, an out-of-state scholarship will cost $51,000. With 70 percent of our student-athletes from outside the state of Virginia, keeping up with increases in tuition remains a constant challenge. The tuition increases have been so aggressive over the past several years and have outpaced the growth of our annual giving program. We are still recovering from the most significant drop in our annual fund in 2009, which came at the height of the recession. The result of this has required us to use endowment cash reserves to fund the total scholarship bill. These cash reserves will eventually be depleted if we do not increase the donor base and raise the level of the annual fund. While funding the cost of scholarships will always be a challenge, we are blessed with an extremely loyal base of donor support and an active group of student-athlete alumni. In a time when it is easy to stay at home to watch games on television, it has been exciting to see so many Virginia fans in the stands for our first few football and soccer games. On October 25-27, we will welcome our student-athlete alumni back to Grounds for the All-Sports Reunion weekend. This continues to be a popular weekend and coincides with Homecomings. This fall will provide each of you with a number of opportunities to cheer on the Cavaliers and to see the direct beneficiaries of your investment compete in the sport they love. Thank you for all you do for our student-athletes. Your commitment to the Cavaliers provides a lifetime of memories. Best regards, Dirk P. Katstra Executive Director