University of Mary Washington - Index

University of Mary Washington - summer08 - Index

alumni and their families, parents,
faculty, staff, community members,
and corporations. Mary Washington
relies on contributions from those
who see the value and potential of this
educational gem.
A priority of the Centennial
Campaign is the creation of new
endowments and the expansion of
existing ones. Since the principal is
never expended, such gifts continue to
grow, producing a constant source of
funding for generations to come.
Endowments provide the
foundation and the impetus to give
institutions an edge. They provide for
capital improvements and program
embellishments, and allow schools to
attract top-notch faculty and students.
“Only with a substantial endowment
can UMW do those things essential
for greatness, such as attracting
and retaining the finest teachers
by enhancing faculty salaries and
establishing endowed professorships,”
said William B. Crawley Jr., who serves
as the campaign’s National Chair
along with his wife, Theresa Young
Crawley ’77. “It is also crucial for funding
scholarships for worthy students and to
help increase diversity.”
The University has set $35 million as
its endowment goal. If the goal is met,
it would help elevate the University to
the level of some of its peer institutions.
At the end of the last fiscal year, the
market value of Mary Washington’s
endowment assets equaled $38.9
million. While this is a milestone for
UMW, the amount represents only onetenth
that of Virginia Military Institute,
and is not even in the same league
when compared to endowments at
other Virginia institutions of higher
education, including Virginia Tech
($524.7 million) and U.Va. ($4.4 billion).
In addition to endowment funds,
the campaign is seeking $15 million
in support of the Fund for Mary
Washington. Annual contributions
to this designation go toward the
day-to-day operational needs of the
University. The remaining $25 million
Elmer R. Morris Jr. ’50 and Marceline Weatherly Morris ’50 (couple on right) made a
Centennial Campaign gift to establish the Richard V. and Rosemary A. Hurley (couple
on left) Presidential Commendation. The endowed award will be given annually to a
UMW employee who performs exceptionally meritorious service while demonstrating
strength of character and steadfast dedication to the University’s mission.
Above: The University of Mary
Washington relies heavily on private
donations for funding that allows the
school to attract excellent professors.
At right: The University Tennis Center
was funded by a private donation, as
was the Jepson Science Center and the
Jepson Alumni Executive Center.
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Karen Pearlman
Robert A. Martin
Ian Bradshaw