Expanding Philanthropic Giving
Philanthropic giving enhances the endowment and provides current-use resources that allow Virginia Tech to advance its priorities in access and affordability, capital projects, programmatic excellence, and talent recruitment and retention. Before 2016, Virginia Tech had been averaging about $80 million annually in cash, and a similar amount in annual gifts and new commitments. The giving rate for alumni was 9 percent. Based on peer land-grant universities of similar size, our annual new gifts and commitments should be about $250 million and our giving rate should be above 20 percent.
Under our new integrated approach to Advancement – bringing together alumni relations, university relations, and development – Virginia Tech is making strides in both cash ($125 million in FY17) and new gifts and commitments ($162 million in FY17). We have set a milestone of 22 percent giving by 2022 (currently at 12 percent), and we expect to reach a sustainable level of $250 million in new gifts and commitments by 2027.