Campaigns Reach $200 Million

(April 30, 2009) As spring arrives in Hartford and the Class of 2009 prepares for graduation soon, Trinity’s dual campaigns, the $350-million Cornerstone Campaign and $50-million Legacy Campaign, have now combined to reach $200 million since fundraising began on July 1, 2006.  Despite challenging economic times, this is the largest fundraising total ever achieved for Trinity in its distinguished 186-year history.

The Cornerstone Campaign has now recorded gifts and pledges of $166.1 million, of which more than $111 million has been paid to date.  Trinity’s parallel campaign, the Legacy Campaign, has made very substantial progress.  Designed to recruit and honor (including anonymously) those who are including Trinity in their estate plans, the Legacy Campaign has now recorded $35 million in documented intentions.  These are encouraging down payments on Trinity’s ambitious future.

The first priority for the Cornerstone Campaign, the Trinity College Fund (TCF), has taken on even more importance as Trinity, like all colleges, has struggled with an endowment that has lost approximately 30 percent of its value because of the decline of the investment markets.  This year’s special Pacesetters Gift Matching program, where over 200 donors have pooled $4.8 million of their own gifts to match the gifts of others, has provided a critical stimulus for the TCF.  With just two months remaining in the Fund’s June 30th deadline, the TCF is 10 percent ahead of last year at this time as it pursues a very aggressive $8.65 million goal, especially needed this year to support increased financial aid demands because of the economy.  To help spark a final push in this fiscal year to maintain Trinity’s national “top 10” ranking in alumni and parent participation, respectively, three alumni and one parent have offered “all or nothing” challenges, on top of the gift matching program already in place.  Classmates John Gates ’76 and Jeff Kelter ’76 and an anonymous Class of ’78 member are offering $400,000 to alumni if the College can convince 4,500 of last year’s alumni donors to renew their giving by June 30.  Burke Ross, P’10, has offered a $100,000 “all or nothing” challenge if the Parents Fund can recruit 500 more parent donors by the same June 30 deadline.  If these participation challenges are successful, the challenge monies will be used for financial aid, career services, and student activities, especially for performing arts.

While the TCF continues its pursuits, the campaign’s second goal of raising money for the College’s endowment continues to find momentum.  To date, more than $100 million raised is designated for the endowment.  This amount already includes 10 new endowed chairs and over $40 million raised for new endowed scholarships.

Campus improvements, the third leg of the Cornerstone Campaign’s three-legged stool, are at a stalled moment, however.  While the $34.7-million Long Walk Renovation has brought new vitality and utility to that iconic campus masterpiece, there remains a $3-million philanthropic gap in paying for this project.  This continues to be a key giving opportunity at Trinity.

Because of the economy and the slower rate of capital giving by some donors, major construction plans for the arts and sciences, respectively, are being reviewed and re-planned by the Trustees.  There is full awareness that both areas require substantial attention if Trinity is going to excel and improve.  But like virtually all colleges and universities today, there is a present moratorium on substantial new building and renovation.

On July 1, the campaign will hit the mid-point in its six-year timetable.  These past 12 months have been more difficult economically than could have been reasonably forecasted.  Yet, alumni, parents, and friends have not stopped investing in Trinity and its mission to educate talented men and women, while preparing them for lives of leadership.  We are realistic about the economic stresses we can continue to expect over the next 12-24 months.  We are grateful for the support and affection expressed by so many in the Trinity family.  Trinity’s “value proposition” has never been more persuasive, nor more essential to our country.  The loyalty of Trinity graduates is legendary.  Despite some difficult, but essential, financial choices that must and will be made by the Board of Trustees and President Jones, Trinity is in a strong position to succeed and excel.

We will continue to post quarterly reports of the progress of the dual campaigns.

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