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Seminary Journal 2008 (August) - Virginia Theological Seminary

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ANNUAL GIVING<br />

Annual Giving is a cornerstone of support for<br />

<strong>Virginia</strong> <strong>Seminary</strong>, critically important in enabling the<br />

<strong>Seminary</strong> to meet its expanding commitments. I am<br />

pleased to report that overall Annual Giving by alumni,<br />

friends, and parishes, exclusive of foundation grants<br />

and bequests, exceeded $1 million for the second year<br />

in a row. Overall giving for the year, including foundation<br />

grants and bequests, was $1,962,951. This increased<br />

support is making a signifi cant difference in the life of the<br />

<strong>Seminary</strong>, and provides strong momentum as we look to<br />

the future. We are thankful for those many gifts recognized<br />

in this Annual Report.<br />

Annual Giving provides support for the Annual<br />

Fund, as well as specifi c initiatives and priorities of the<br />

<strong>Seminary</strong> during the year. Three of these initiatives, which<br />

refl ect the <strong>Seminary</strong>’s ongoing engagement with the wider<br />

world, are discussed earlier in this Report.<br />

$1,100,000<br />

$1,000,000<br />

$900,000<br />

$800,000<br />

$700,000<br />

$600,000<br />

$500,000<br />

$400,000<br />

$300,000<br />

$200,000<br />

$100,000<br />

<strong>Virginia</strong> <strong>Theological</strong> <strong>Seminary</strong><br />

Annual Giving<br />

(Does not include Foundation Grants or Individual Bequests)<br />

(Fiscal Year 1999-2007)<br />

AN ENDURING COMMITMENT TO OUR STUDENTS<br />

<strong>Virginia</strong> <strong>Seminary</strong>’s endowment, totaling $144<br />

million at the end of fi scal year 2007, and up from $126 million<br />

last year, has been created over time by generations of<br />

generous graduates and friends whose gifts and bequests<br />

enable the <strong>Seminary</strong> to weather the fi nancial storms of a<br />

changing society. Perhaps the most dramatic impact of<br />

the <strong>Seminary</strong>’s endowment is the role it plays in funding<br />

tuition and housing for students.<br />

Support for fi nancial assistance to students who<br />

have few assets and little income is more important than<br />

ever. As more young students enroll, often with educational<br />

debt from college, they are dependent on our strong<br />

fi nancial aid program to help them avoid incurring additional<br />

debt. Heavy debt loads limit the places in which our<br />

graduates can serve. Our goal is for students to graduate<br />

without debt incurred while at <strong>Seminary</strong> and be free to go<br />

where the need is greatest. This past 2006-2007 academic<br />

$0<br />

1999 2000 2001 2002 2003 2004 2005 2006 2007<br />

Combined<br />

Parishes<br />

98 VIRGINIA SEMINARY JOURNAL AUGUST 2007<br />

Alumni<br />

Friends<br />

Overall Alumni, Friends and Parish Annual Giving (Undesignated Annual Fund and Designated Special Funds)

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