1999-2000 PRIVATE GIFT SUPPORT TO UNIVERSITY OF ARKANSAS REACHES $23.3 MILLION AT MID-YEAR

FAYETTEVILLE, Ark. - Private gift support to the University of Arkansas for the first half of the 1999-2000 fiscal year (July 1 - Dec. 31) has reached $23.3 million, University officials reported today. The total includes funds actually received during the first half of the year and does not include pledges.

The figure represents an 18.9 percent increase over the $19.6 million raised during the same period in 1998 — if the unprecedented $50 million gift from the Walton Family Charitable Support Foundation of Oct. 1998 is lifted from the comparison.

"This is turning into another spectacular year for fund-raising," said UA Chancellor John A. White. "We are reaping tremendous benefits from these private funds for scholarships, academic program support and enhanced facilities. Philanthropy is helping us realize our vision of being a nationally competitive, student-centered research university, serving Arkansas and the world. We are grateful to alumni, friends, corporations, foundations and other organizations for their faith in and support of the University."

The University's fund-raising goal for 1999-2000 is $35 million — a figure that reflects the total amount of the goals developed by each fund-raising area within the University. With $23.3 million raised, the University is at 67 percent of this year's goal in 50 percent of the time.

G. David Gearhart, vice chancellor for University advancement, said, "We are very pleased with the gifts we've received this year, particularly the major gifts from the Walton Family Foundation and George and Boyce Billingsley to support our creative writing program and the music department, respectively, in the J. William Fulbright College of Arts and Sciences.

"One of our greatest successes this year is in the area of planned gifts. As the stock market continues to rise, many of our donors have enjoyed the wonderful benefits of using appreciated assets to make current and planned gifts," Gearhart noted. "The strong economy has been most helpful to our donors and to the University of Arkansas."

"We are grateful to all of our supporters who believe in Chancellor White's vision for the University and who have given generously to ensure that the University thrives in the 21st century," he added.

In addition to the progress in dollars received, the University attracted 14,988 gifts between July 1 and Dec. 31, 1999. This total reflects a 10 percent increase over the 13,537 gifts received during the same time in 1998.

The mid-year dollar totals do not reflect the $20 million received by the Razorback Foundation from the Donald W. Reynolds Foundation in December for the expansion and renovation of what will be renamed the Donald W. Reynolds Razorback Stadium.

In 1998-99, the University had its best fund-raising year ever, garnering $85.2 million, which reflects the $50 million Walton gift — at the time the largest gift ever made to an American business school. The University raised $28.1 million in 1997-98 and $20.4 million in 1996-97.