2008 Woodie Awards
Economy has fundraisers crossing their fingers
Curtis Thom
Issue date: 10/9/08 Section: Front Page
Very few people can escape the current economic fallout. PSU is certainly no different.
"It's not a good situation," Scott Roberts, director of university development, said.
With private donations playing an important role in funding programs and construction, boosting those funds has become more complicated than in the past.
"Stock transfers are extremely difficult right now," Roberts said. "Everyone is taught to buy low and sell high, but with most stocks now, they've bought stocks that have lost value and they're now unsure of moving them."
PSU's foundation is where all private donations are collected and kept. Those donations are then overseen by a nine-member board of trustees and a professional consultant to help invest those funds.
The funds collected are then used by the university for many activities, campus construction, student programs, scholarships and other needs.
Despite the recent stock market scare, PSU has experienced less of a loss than have other schools.
"For many larger schools, if they lose portions of their funds, it's really no big deal," Roberts said. "Here at PSU, that money is more vital to the school, but luckily our funds have been stable."
While the S&P 500 lost a reported 13 percent of its value, PSU had only a 4.4 percent loss.
Playing an even larger part of campus finances is the $120 million capital campaign that Roberts and University Development are currently pursuing.
Although money in many households and businesses has become tighter, PSU has been able to stay ahead of its goals.
"Currently we're ahead of schedule (for meeting our goal)," said Roberts. "This year is just starting, so those trends could change."
For the 2008-09 school year, PSU has set a $20 million goal, a first in school history.
As of now, the university foundation has collected 75 percent of its campaign, roughly $90 million.
"In 2007-08 we returned an increase in both number of donors and also in gifts given, but it's hard telling how our current situation will affect us for the remainder of this year," Roberts said.
The target audience for donations is typically past alumni, local businesses, and even faculty and staff.
"We are actively campaigning to faculty and staff to just remember the university and what it takes to keep it going," said Roberts. "Keeping the money inside the university is what's important."
In addition to reaching out to local investors, Pitt State also relies on alumni all across the nation.
"Every year we direct-mail 55,000 alumni across the country to reach out and pursue donations," said Roberts. "We also have a Phone-A-Thon that we host, anything just to let everyone know anything new with the university and keep them active with the university."
"It's not a good situation," Scott Roberts, director of university development, said.
With private donations playing an important role in funding programs and construction, boosting those funds has become more complicated than in the past.
"Stock transfers are extremely difficult right now," Roberts said. "Everyone is taught to buy low and sell high, but with most stocks now, they've bought stocks that have lost value and they're now unsure of moving them."
PSU's foundation is where all private donations are collected and kept. Those donations are then overseen by a nine-member board of trustees and a professional consultant to help invest those funds.
The funds collected are then used by the university for many activities, campus construction, student programs, scholarships and other needs.
Despite the recent stock market scare, PSU has experienced less of a loss than have other schools.
"For many larger schools, if they lose portions of their funds, it's really no big deal," Roberts said. "Here at PSU, that money is more vital to the school, but luckily our funds have been stable."
While the S&P 500 lost a reported 13 percent of its value, PSU had only a 4.4 percent loss.
Playing an even larger part of campus finances is the $120 million capital campaign that Roberts and University Development are currently pursuing.
Although money in many households and businesses has become tighter, PSU has been able to stay ahead of its goals.
"Currently we're ahead of schedule (for meeting our goal)," said Roberts. "This year is just starting, so those trends could change."
For the 2008-09 school year, PSU has set a $20 million goal, a first in school history.
As of now, the university foundation has collected 75 percent of its campaign, roughly $90 million.
"In 2007-08 we returned an increase in both number of donors and also in gifts given, but it's hard telling how our current situation will affect us for the remainder of this year," Roberts said.
The target audience for donations is typically past alumni, local businesses, and even faculty and staff.
"We are actively campaigning to faculty and staff to just remember the university and what it takes to keep it going," said Roberts. "Keeping the money inside the university is what's important."
In addition to reaching out to local investors, Pitt State also relies on alumni all across the nation.
"Every year we direct-mail 55,000 alumni across the country to reach out and pursue donations," said Roberts. "We also have a Phone-A-Thon that we host, anything just to let everyone know anything new with the university and keep them active with the university."
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