Seminary Journal 2008 (August) - Virginia Theological Seminary
Seminary Journal 2008 (August) - Virginia Theological Seminary
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)