UNIVERSITY OF ARKANSAS ANNOUNCES BEST FUND-RAISING YEAR EVER

FAYETTEVILLE, Ark. — Despite a troubled economy, a sagging stock market and geopolitical turmoil, University of Arkansas fund-raising rebounded during the fourth quarter of the 2002-2003 fiscal year and brought in $365,310,936 million in private gift support, making FY03 the best fund-raising year ever, as announced by Dr. G. David Gearhart, Vice Chancellor for University Advancement.

The total is 573% percent higher than the $63.7 million received in 2001-2002. The total also includes the historic $300 million gift from the Walton Family Charitable Support Foundation, received in March, entirely in cash.

The University of Arkansas totals include actual dollars or gifts-in-kind received during the period July 1, 2002, through June 30, 2003, and exclude any pledges of gifts made during that time.

The $365 million includes funds to two major areas:

1. $353 million raised for academic and academic support programs, including women’s athletics. That amount represents the highest total in UA history for academic and academic support purposes. The second best fund-raising year was 1998-1999, when the University received $98 million, of which $85.2 million was designated toward academics. Fund-raising totals for that year were boosted significantly by a $50 million gift — in October 1998 — from the Walton Family Charitable Support Foundation for what was later named the Sam M. Walton College of Business.
2. $12.8 million from the Razorback Foundation, Inc., a private organization that supports men’s athletics.

"I’d like to thank the Walton family for their astounding generosity to the University of Arkansas and their commitment to helping transform this institution now and into the future. Of course, our unprecedented fund-raising success this fiscal year would not be possible without their historic gift," said UA Chancellor John A. White. "We are extremely grateful to the thousands of alumni, friends, corporations and foundations who made private gifts to the University during what is arguably one of the worst economic times in our nation’s history to be raising private gift support. The outpouring of support from our family of donors demonstrates a strong commitment, interest and understanding of the need to advance the University of Arkansas. Private gift support helps to bring us closer to being a nationally competitive, student-centered research university serving Arkansas and the world."

Of the $353 million raised for academics and academic support programs in 2002-2003, 5 percent came from individual alumni and friends, while 95 percent came from corporations and foundations.

"With two years left in the Campaign for the Twenty-First Century, this year’s fund-raising success is definitely encouraging," said Gearhart. "We’re grateful for the continued private gift support of our alumni and friends and I’d like to thank the hundreds of individuals and corporations who made thousands of gifts and pledges toward the Campaign this year. We are very pleased with the Campaign’s progress and although there is still a lot of work yet to be done, we’re confident of our success due in large part to our stellar group of volunteer leaders, our devoted deans and their fund raising leadership, a hard working staff and supportive faculty and the allure of raising funds for a worthy and noble cause — the improvement of the University of Arkansas across the board."

Gift designations for 2002-2003:

• Dale Bumpers College of Agricultural, Food and Life Sciences and the Division of Agriculture: $8,342,461
• School of Architecture: $832,192
• J. William Fulbright College of Arts and Sciences: $7,219,733
• Sam M. Walton College of Business: $6,630,256
• College of Education and Health Professions: $3,182,617
• College of Engineering: $2,995,589
• School of Law: $438,733
• Graduate School: $96,264,245
• University Libraries: $28,255,862

Gifts to other units:

• Men’s Athletics (Razorback Foundation Inc.): $12,809,310
• Alumni Association: $436,580
• Chancellor’s Scholarships: $925,263
• KUAF Public Radio: $888,322
• General Scholarships: $3,392,582
• Student Affairs: $2,851,188
• University of Arkansas Press: $4,180
• University Wide: $17,676,846
• University/Razorback Bands: $45,781
• Women’s Athletics: $1,117,700
• Continuing Education: $1,100
• Honors College: $171,000,395

Private gift support 1998-2003:

Campaign for the Twenty-First Century report:

Since July 1, 1998, the Campaign for the Twenty-First Century has been raising gifts and pledges to help the University achieve its vision for the twenty-first century. Campaign funds are being raised for six critical areas of need: endowed faculty positions and scholarship funds, academic programs, University Libraries, new and enhanced academic facilities and equipment and annual giving.

As of June 30, 2003, the Campaign total stands at $741,436,399 million in gifts and pledges, which accounts for 82 percent of the $900 million goal in 71 percent of the time. The Campaign will conclude June 30, 2005. Frank Broyles, director of men’s athletics, assumed the presiding chair of the campaign on July 1. He succeeded Jim Walton, chairman and CEO of Arvest Bank Group, Inc. Rob Walton , chairman of Wal-mart Stores, Inc. served as the first presiding co-chair, followed by Tommy Boyer, owner and CEO of Micro Images of Amarillo, Texas. Johnelle Hunt serves as campaign treasurer.

Of the $900 million goal, $300 million must be raised exclusively for academic support — a condition of receiving the Walton Foundation’s $300 million gift — as part of The $300 Million Challenge. The Challenge total stands at $113,463,437; therefore, an additional $186,536,563 must be raised for academics and academic support programs by June 30, 2005.

Of the $742 million in pledges committed to the Campaign since 1998, $476 million, or 64 percent, was designated by donors for the University’s endowment. Endowment acts like a permanent savings account to provide a perpetual source of income for such purposes as student scholarships, faculty chairs and academic programs.

"The rapid growth of the University of Arkansas endowment is key to realizing our goals for the University, particularly in our ability to attract and retain highly talented students and faculty," Gearhart said.

Campaign progress toward goal — as of June 30, 2003:

Campaign-to-date includes gifts and pledges from July 1, 1998, through June 30, 2003, and Razorback Foundation gifts from 1999 through the end of 2003.

Campaign total: $741,436,399 Campaign goal: $900,000,000