Cavalier Corner

February 2018

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4 CAVALIER CORNER 2018 BOARD OF TRUSTEES OFFICERS President Alan A. McClure, Atlanta, Ga. Vice President Juliana Schulte O'Reilly, McLean, Va. Secretary-Treasurer Dirk P. Katstra, Charlottesville, Va. Immediate Past President William L. Tyson, Richmond, Va. Trustees Mia M. Bass, Alexandria, Va. Charles R. Birdsong, Suffolk, Va. Franklin S. Edmonds Jr., Charlottesville, Va. James T. Fang, Williamsburg, Va. G. Slaughter Fitz-Hugh III, Richmond, Va. W. Heywood Fralin, Roanoke, Va. Edmund F. Garno III, Haverford, Pa. Michael S. Geismar, Charlottesville, Va. Marvin W. Gilliam Jr., Bristol, Va. Yusef D. Jackson, Chicago, Ill. Gregory S. Ledford, Washington, D.C. Mark M. Luellen, Charlottesville, Va. Douglas S. Luke Jr., New York, N.Y. T. Douglas McQuade, Roanoke, Va. Juliana Schulte O'Reilly, McLean, Va. Barry L. Parkhill, Keswick, Va. Cynthia Brinker Simmons, Dallas, Texas Anne Carter Smith, Charlotte, N.C. A. Wellford Tabor, Charlotte, N.C. Carla G. Williams, Charlottesville, Va. Mission Statement The Virginia Athletics Foundation, through its fundraising efforts, strives to support a preeminent intercollegiate athletics program at the University of Virginia by providing student- athletes the opportunity to achieve academic and athletic excellence. Virginia Athletics Foundation P.O. Box 400833 Charlottesville, VA 22904-4833 (434) 982-5555 | (800) 626-8723 (434) 982-5025 FAX Dear Cavalier Fans, First and foremost, I would like to thank all of our donors who helped make 2017 a record fundraising year for the Foundation. Across all categories of fundrais- ing – annual fund, endowment, facilities, suite gifts and operational budget support – we raised $49 million. This total surpasses our previous record of $46 million in 2006, which was the height of the John Paul Jones Arena campaign. Some highlights are listed below: • Annual Fund – $17.4 million which surpasses the record established in 2016 • Endowment – $9.3 million, including five $1 million commitments • Facility Projects – $17 million The endowment total exceeds our previous best year of $4 million. The majority of the commitments were matched from the University's Bicentennial Scholarship Fund to provide a significant boost to our scholarship funding program. Five million dollars in matching funds are still available for us to access with new donor commitments. One area of concern is the slow growth of the annual fund. While the 2017 total set a new annual fund record, it was far off our target needed to meet our scholarship expenses for the year. The good news is that 2,533 donors increased their commitments by 10% over 2016 and 585 increased to the next giving level. We will need to see significant growth in the future in order to keep up with rising tuition costs. Towards the end of 2017, we shared some information about the potential impact of new tax legislation. Many donors responded by making contribu- tions to apply to future fundraising years for ticket qualifications. Others made future contributions in advance of the increase in the standard deduction so they could itemize their deduction in 2017. Numerous articles have been written predicting the effects of the new laws on the non-profit community and athletics. We certainly cannot afford any drop-off in giving as a result of the tax law change, given the current level of our annual fund. While tax deductions have been a part of charitable giving for a long time, research suggests that the ability to deduct contributions are not among the top motivating factors to support organizations. We are hopeful that your passion for Virginia Athletics and supporting 700 student-athletes will override any reduction in tax benefits. What hasn't changed is the importance of donor support in creating the very best academic and athletics experience possible for our student-athletes. Your support has been vital to the success of our athletics program in the past and will be even more critical in the future. We hope that you and many other Virginia fans will choose to support our student-athletes at record levels again in 2018. Renewal information will be mailed the first week of February…look for your packet in the mail soon. Thank you again for your loyal support and enthusiasm for Virginia Athletics. Best regards, Dirk P. Katstra Executive Director Like us on Facebook

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