UNIVERSITY EN ROUTE TO BEST FUND-RAISING YEAR EVER

FAYETTEVILLE, Ark. -- The University of Arkansas is on its way to a record-setting year in private gift support, with nearly $70 million raised in the first six months of the current fiscal year (1998-99) - a 459 percent increase over the same period last year.

From July 1 to Dec. 31, 1998, the University raised $69.6 million from alumni, friends, corporations, foundations, and other organizations. That compares to $12.4 million raised during the same time in 1997. These funds include gifts actually received by the University and do not include unpaid pledges or deferred gifts.

Previously, the best fund-raising year for the University was $43.5 million in 1993-94.

"We're delighted with the response we're seeing from our benefactors this year," said John A. White, University chancellor. "We appreciate their vote of confidence in our vision for emerging as a nationally competitive research university and economic engine for the state of Arkansas."

The major reason for the large increase, White said, was the $50 million gift from the Walton Family Charitable Support Foundation to endow the Sam M. Walton College of Business Administration. The gift was the largest ever made to an American business school and the largest in the history of Arkansas higher education.

"There's no question the Walton Family gift has put us firmly on the national fund-raising map," he added. "But even if you were to exclude it, we'd still be heading for what could become our best year ever."

Putting the Walton gift aside, the University has raised $19.6 million during the first six months of the current fiscal year, said G. David Gearhart, vice chancellor for University advancement. That pace is 58 percent ahead of the $12.4 million for the same time last year, he added.

"The Walton Family gift has been a tremendous boost in and of itself, but the example it set has had a positive effect on our entire fund-raising program," Gearhart said. "It has shown that the University needs and deserves major gifts and succeeds at raising them. We're seeing increased enthusiasm across the board for supporting the needs of the University."

For the entire 1997-98 fiscal year, ending June 30, the University raised $28.1 million in private gift support. That was a 37 percent increase over the $20.4 million raised in 1996-97.

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