Baylor Has Fourth-Best Giving Year In University History
Baylor University had one of the most successful years ever for gifts to the university, despite a recovering economy and other challenges faced by the institution during 2003.
Baylor received $45,489,886 in gifts during 2003 - the fourth-largest amount ever given to the university during a calendar year. The figure does not include gifts made to the independent Baylor Alumni Association.
The $45 million came from the third-largest number of donors in Baylor's history, as 16,440 individuals, foundations, companies and organizations committed their financial support to Baylor and its distinctive Christian mission in higher education. More than 3,500 gifts came from first-time donors.
"Despite challenging university events and an uncertain economic climate, Baylor alumni and friends have shown strong support for the university and its students" said Dr. Richard C. Scott, vice president for development.
"I am deeply grateful to the legions of supporters who have financially undergirded the university this past year as we have made progress in realizing our 10-year vision to become one the top universities in the country while maintaining and strengthening our Christian mission," said President Robert B. Sloan Jr. "As I have traveled across the nation over the last few months to meet with Baylor alumni, friends, prospective students and parents, I have been greatly encouraged by their passion for this university and its unique mission and vision."
Baylor enjoyed broad-based support from alumni, parents, faculty and staff, foundations and others. The $45 million given to the university in 2003 supported student scholarships, academic programs, athletics and construction projects.
The university's endowment also grew substantially in 2003. As of Dec. 31, the market value of Baylor's endowment stood at $662 million, which represents an increase of 34 percent over the last nine months of 2003.
"Baylor has obviously benefited from the recent rebound in the stock market, but we also realized significant strengthening of our endowment this past year from contributions and from our investment policies and practices," said David R. Brooks, vice president for finance and administration.
The top five giving years for Baylor University:
1997 -- $59,943,191
2000 -- $57,972,032
1999 -- $51,255,505
2003 -- $45,489,886
2001 -- $43,788,747