WVU Foundation meets fundraising goal
MORGANTOWN, W.Va. — The WVU Foundation has reached its fundraising goal with about a month left in the 2013 fiscal year.
Through the end of May the foundation had raised $80.6 million in cash donations and in-kind gifts, which are non-cash items like works of art, The Dominion Post reported Friday (http://bit.ly/nllSwu). The fiscal year ends June 30.
President and CEO Wayne King said the foundation was especially pleased that donors continue to give to the university under harsh economic conditions and as the Morgantown school faces state and federal budget cuts. WVU officials addressed a $13 million decline in state appropriations and other shortfalls in state and federal funding for the upcoming fiscal year.
"Anything we can do as a foundation to generate support for scholarships, endowed chairs or projects . relieves a little bit of the financial pressure," King said.
King said the foundation hasn't set its fundraising goal for the next fiscal year but plan to come up with a "challenging," yet "realistic" goal.
Morgantown resident John Hall said he donates to WVU but he didn't take the university's budget situation into consideration when determining how much to give. The former WVU professor of microbiology said he gives to the library because it needs the funds and had helped him throughout the year, such as providing audio-visual materials that he used in the classroom.
During the last few years, the foundation has set records for giving or bested its goal for the year. It's something everyone would like to see continue, King said. But he cautioned that the numbers can be skewed by large gifts that only come around once every 10 years or once in a lifetime. Certain programs can also spur giving, such as the Research Trust Fund.