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University exceeds fundraising goal

Over $3 million in donations was raised over the past fiscal year. Dr. Jean Runzo, vice president of University Relations, is the woman behind it all. She stands next to a leopard sculpture which was one of the many donations given to the University by alumni and other contributors. / photo by Veero Der-Karabetian
Over $3 million in donations was raised over the past fiscal year. Dr. Jean Runzo, vice president of University Relations, is the woman behind it all. She stands next to a leopard sculpture which was one of the many donations given to the University by alumni and other contributors. / photo by Veero Der-Karabetian

by Cory Cruz
Staff Writer

Striving for a goal of $2.5 million, the University Relations staff went above and beyond to reach a historical fundraising amount of $3 million.

More than the 2,500 alumni, trustees, employees, friends, corporations, foundations, churches and other organizations contributed to the University last year.

“I can’t take all the credit, there are 13 other people that worked on this just as much and without them it would have made this effort almost impossible,” said Dr. Jean Runzo, vice president for University Relations.

She attributed many of the reasons people donate to the University to President Stephen Morgan.

“Steve has such leadership and confidence in the University of La Verne, that people see how much he loves it, and want to give back to keep the University alive,” she said.

Fundraising began on July 1, 1994 and ended on June 30, 1995. A large part of the money raised, $1.6 million, is tied up in annuities and trusts. This means that people have left money to the University in their wills, and the money will not be spent until the contributor has died. Currently, there is $6.5 million in this type of donation, and the University is aware of more than $5.1 million in future requests, which would bring the total to $11.6 million.

Money raised was distributed throughout the University; $537,000 went to annual student scholarships; and $249,470 went to various restricted accounts. A restricted account is when the person donating specifies where the money goes. A majority of this money is designated for the new library and academic center; $150,000 went toward no-interest student loans; $118,000 was for the permanent endowment. The endowment will never be touched and the interest earned will go to help support ULV. The current market value in the University’s endowment is $15 million.

The University Relations staff has set this year’s goal at $3.5 million. So far $338,000 has been raised.

Cory Cruz
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Veero Der-Karabetian
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