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Wofford hits record $23.8 million in gifts, pledges for 2005

Wednesday, March 01, 2006

SPARTANBURG, S.C. – Wofford College reached a record $23.8 million in gifts and pledges during 2005 from alumni, parents and other friends, nearly $6 million over 2004 totals. The figure includes $14.5 million in cash and gifts-in-kind.

Representing the largest capital campaign in the college’s history, the Campaign for Wofford, begun in October 2002, has raised a total of more than $63 million in cash and pledges toward the $105 million goal, to be reached by the end of 2009. The campaign includes funding for permanent endowed professorships and chairs, and endowed scholarships; Annual Fund and Terrier Club support; facilities needs, such as the restoration of the historic Main Building; and funds for enrichment of academic and campus programs.

“We are pleased thus far with the response that Wofford alumni and other friends of the college have made to the campaign,” says Jerome J. Richardson (Class of 1959), chairman of the National Campaign Steering Committee, member of the college’s board of trustees, and founder of the Carolina Panthers. “Just as it should be, giving to the college is significantly increasing, with commitments made during 2005 more than doubling the amount committed to Wofford just three years earlier. We have every reason to expect that, with over $60 million already committed to the campaign, we will more than exceed our goal of $105 million in the next few years. With President (Benjamin B.) Dunlap’s leadership and a quality team in place both in terms of the administration and key volunteers, the college has ascended into a new dimension of national recognition and visibility. We are eager to be able to share the great Wofford story with a broader range and increasing number of people, and through newly endowed professorships and scholarships, to be able to attract to the college the very best talent available.”

President Dunlap says, “We have increased the number of faculty over the past year with 15 exceptionally well-qualified individuals, and our plan is to add more teaching talent over the next few years. We are also increasing the number of endowed scholarships through the campaign, which enables us to strengthen and diversify the student body.”

The fundraising momentum has been heavily influenced by the growing national recognition of Wofford. Since the beginning of the campaign, the college has received increased commitments each year over the previous year, ranging from a total of $10 million in 2002 to nearly $24 million in 2005.

The National Campaign Steering Committee is represented by business leaders from throughout the Southeast, and the work of volunteers has played a major role in Wofford’s fundraising success, says Marion Peavey, senior vice president for development. “We are fortunate to have their time and commitment for Wofford.

“We are pleased to have more than six new endowed chairs and professorships for our faculty so far in the campaign,” Peavey adds, “along with 58 new endowed professorships. Increasing our endowment substantially from $125 million over the next several years is a major priority of the campaign.”

Vice chairs of the campaign are J. Harold Chandler, a Wofford trustee and chairman/CEO of Benefit Partners of America in Nashville, Tenn., and Hugh C. Lane Jr., a Wofford trustee and president/CEO of The Bank of South Carolina in Charleston, S.C.