Wake Forest's Deacon Club Achieves Fundraising Success
Aug. 18, 2015
Wake Forest Athletic Communications (@DemonDeacons)
WINSTON-SALEM, N.C. -- Wake Forest University Director of Athletics Ron Wellman has announced that Wake Forest Athletics raised $42.3 million in gifts and commitments during fiscal year 2015, which ended June 30, bringing total athletic commitments for Wake Will: The Campaign for Wake Forest to just over $142 million since the launch of the campaign.
Altogether, cash received for all categories of giving (capital, annual fund, endowment, other) totaled $26,211,401, representing a 44 percent increase over fiscal year 2014.
Coming off the record-breaking success of the 2014 fiscal year, Associate Director of Athletics for Development Barry Faircloth, who was named the 2015 National Association of Athletic Development Directors (NAADD) Fundraiser of the Year earlier this year, is even more encouraged by this year's results.
"Our fundraising success this year only adds to the momentum of last year's record-breaking year, making the past two years the most revolutionary in our history in terms of raising money," said Faircloth. "Our donors have been so supportive and energized that they have contributed as much in the past two years as in the previous six years combined."
In total, over $13.5 million in capital gifts and more than $21 million in new pledges were received in support of capital projects, including ten new gifts or commitments over $1 million and five new commitments of $2 million or more. The result of these generous capital contributions can be seen around campus. Significant progress has been made on the construction of the $21 million McCreary Field House, and work is underway on the Haddock Golf House, which is the final phase of the Arnold Palmer Golf Complex. Renovations to the Spry Stadium game field were completed this spring along with the first phase of permanent seating next to the Leighton Courts at the Wake Forest Tennis Complex. In addition, Faircloth said they are close to completing the fundraising necessary to break ground on the next phase of renovations at the Wake Forest Baseball Complex.
Through the Deacon Club Annual Scholarship Fund, Wake Forest Athletics raised over $6.5 million in annual giving to support student-athlete scholarships, an increase of nine percent over the previous year.
A total of nine new endowed funds were created, and $2,933,290 in cash was invested in endowment representing a 97 percent increase over the previous year. With four of those new funds already reaching a value of $100,000, the required threshold to award a scholarship, and five previously committed endowments reaching the required threshold, a total of nine new athletic scholarships will be awarded this fall.
With $6.5 million raised via the annual fund and an endowment payout of more than $1.37 million, a total of nearly $7.9 million has been raised this year to help cover the cost of athletic scholarships, which now totals over $13.9 million.
Faircloth attributes much of this year's annual fund success to the generous donors who stepped up and answered the call to increase their annual giving.
"Last year, we announced that we were increasing the minimum donation for seven of our nine giving levels. Since the last giving level increase more than a decade ago, our annual scholarship costs have risen by nearly 60 percent and now total more than $13.9 million, so this measure was introduced in an effort to overcome the challenge of those rising scholarship costs. Although we encouraged our members to start giving at the new levels right away, we elected to make the increases voluntary for the first year. Fortunately, an impressive 35 percent of Deacon Club members increased their giving to some degree and nearly one-third of those who were impacted by the giving level increase opted to voluntarily renew at the new level or upgraded to a higher level."
Wellman is very pleased with the results achieved by Faircloth and his team and is thankful for the generosity of the more than 5,000 donors who supported Wake Forest Athletics this year.
"Our donors to Wake Forest Athletics have continued to demonstrate their commitment to the success of our student-athletes and athletic programs, and we are grateful for their support," said Wellman. "With many student-athletes already back on campus preparing for the start of a new academic and athletic year, they are excited to see the construction projects that are well underway. The results of the generosity of our Deacon Club members are evident everywhere you look. These projects certainly give everyone associated with our program confidence about our future."
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