Forever Valpo Fundraising Campaign

[bbtds]

This probably belongs in the "Facilities" thread rather than part of a fundraising discussion, but a brief story I'd like to share illustrates, in a small way, what VU and other similarly-situated schools are up against.

I work primarily now as a mediator.  Today I was over in the northeast part of Iowa and was informed by one of the lawyers that a large high school in the area recently spent $12 million ... on an aquatics center.

If high schools are spending that kind of money on what is traditionally a smaller sport, imagine what the facilities for basketball and football must look like.  I've heard a $15 million figure tossed around for a remodel of the ARC.  That figure would only be a bit more than one Iowa high school spent on its swimming program.

Paul

So true.  If you looked at the $ war in Texas football, you would be appalled. $80 million for a high school football stadium.

https://www.houstonchronicle.com/sports/highschool/article/Most-expensive-high-school-football-stadiums-Texas-13145194.php

[valpopal]

Here is a link to the page at the Chapel website for tomorrow's (1/24) "Vigil for Valpo": https://www.valpo.edu/chapel/a-vigil-for-valpo/

[vu84v2]

Here is a link to the page at the Chapel website for tomorrow's (1/24) "Vigil for Valpo": https://www.valpo.edu/chapel/a-vigil-for-valpo/

If people want to get together and pray over strategic and operational issues because it makes them feel better dealing with uncertainty and challenges...fine. But honestly, Valpo is like any other organization. Effective strategic planning and planned use of resources, by necessity, requires decisions of what programs the university will reduce or eliminate. Recent moves to add programs in business analytics, environmental engineering and physician assistance are right in line with trends of what students (and parents) expect and where jobs will be plentiful. However, if you do not have a strong case that the university will grow (not just hope), then you have to trim programs which students (and parents) feel are less necessary. If some people are on the wrong end of that, I feel for them, but you can't let that severely restrict strategic actions - otherwise you try to be all things to all people, but ineffective with critical new programs.

[valpopal]

Just an update: The Forever Valpo Campaign has officially passed the $200,000,000 mark!

[talksalot]

... and they were giving out T-Shirts and Cupcakes in the union this morning to celebrate !  (I only got one of the two)

[crusader05]

I have been impressed with the pace of the fundraising so far this year. Especially since the last part is so hard. I'm wondering if Heckler being out on the road more has helped with the pace.

[VUGrad1314]

I wonder what the next drive will be for... Dorms? New academic buildings that haven't been updated yet? Athletics? How about a targeted campaign to raise everything needed for these things by 2030? Then we can do another endowment drive... I really think exciting times are ahead for Valpo on all fronts.

[crusader05]

My guess is it will be focused on 1-2 new academic building sand athletics. But, I'd imagine it will be under a new president. Heckler has been here for 10 years now I believe and is getting older. I can see him wanting to see this endowment drive through as well as the development of some of the newer programs, especially the new OT PhD and then it will be time to turn the page again.

[VUGrad1314]

If we must seek a new president in the future I want that person to be a good energetic financial steward who is staunchly pro-athletics. Would this be a good role for Homer?

[Valpo2013]

If we must seek a new president in the future I want that person to be a good energetic financial steward who is staunchly pro-athletics. Would this be a good role for Homer?

Perhaps if Bryce were still HC
I assume the Drew family have no involvement with Valpo any longer

[bbtds]

My guess is it will be focused on 1-2 new academic building sand athletics. But, I'd imagine it will be under a new president. Heckler has been here for 10 years now I believe and is getting older. I can see him wanting to see this endowment drive through as well as the development of some of the newer programs, especially the new OT PhD and then it will be time to turn the page again.

That's only half the time that President Harre served from 1988 to 2008. I don't think Heckler retires in the near future.

[crusader05]

While that is true that Harre was here for a long time the average tenure of a college president is around 6-8 years in today's environment. So if Heckler stays until the completion of the Fundraiser which is at Spring 2021 He will have outlasted the high range by several years.

Harre retired in 2008 at approximately 69 years of age. If Heckler stays until '21 he will have been here 13 years and be around 67.

[crusader05]

https://www.valpo.edu/news/2019/02/01/valparaiso-university-alumnus-establishes-endowed-business-professorship-and-scholarship/

Another announcement a gift through the campaign

[crusadermoe]

Crusader05, you said on the NACUBO thread that you believe that the "Hilltop Stuff" may have been counted in the campaign.   

I have been wondering in the last couple of months how we moved so fast from $170 million in July to $200 million in January.  That gain looks very impressive.  Such a big jump would probably have to include 10-15 million dollar gifts.   But we have not seen donor gift press releases at nearly that pace since July.

What is the Hilltop stuff? 

[VUGrad1314]

My guess is that it includes the Kempf Practice facility nutrition rooms and possibly the AC that was put in awhile ago.

[crusader05]

The hilltop stuff could be a part BUT my guess is that they count estate plans in their count toward 250 but do not announce it until the money is officially in hand. That is what happened two years ago when the Counseling Center got their endowment. It had been promised several years earlier at the start of the campaign but there was no public announcement of the money until the donor passed and the money moved to the university. The other pieces are that announcements lag donations or they have money promised to fund something but they need more to fully cover it so they won't announce it all until it happens. (speaking really hopefully if there is a large donation out there to account for that jump it could potentially be the lead donor for a larger renovation project. I have heard they are looking for lead donors for both updating older labs in Gellerson and for ARC renovations which means those are two projects they are explicitly pitching to people

[VUGrad1314]

I would hope baseball also works its way in there but first things first. Take care of the academics the dorms and the flagship sport.

[crusader05]

I thought Baseball has gotten recent upgrades but I'm not sure how much. I think they probably are good with academic buildings for a bit unless a lead donor pops up for one. The major needs have been addressed and the rest is just to move towards a more centralized campus. Something nice, but not necessarily a "need" vs the ARC upgrades.

[vu72]

New official total posted at $200,631,376

[VUBBFan]

Crusader05, you said on the NACUBO thread that you believe that the "Hilltop Stuff" may have been counted in the campaign. I have been wondering in the last couple of months how we moved so fast from $170 million in July to $200 million in January.  That gain looks very impressive.  Such a big jump would probably have to include 10-15 million dollar gifts.   But we have not seen donor gift press releases at nearly that pace since July. What is the Hilltop stuff?

According to this article the endowment fund increased by over 10% thru investments. 10% of 170M is 17M. That could be a pretty good chunk of the increase. I doubt it increased that much from July but the larger the fund increases the larger the gross dollar gain there is. Good investing will help the endowment grow quicker than just by donations.


https://www.valpo.edu/news/2019/02/08/valparaiso-university-endowment-returns-10-7-percent-ranking-in-upper-decile-of-nacubo-tiaa-study/

[crusader05]

There is also a difference between the actual Endowment: which is what money we currently have, and the endowment campaign: which is a goal to get 250 million in new money but some of which will be estates and not in our current possession yet.

So jumps in the campaign may not be replicated in jumps in the endowment and vice versa.

We had a 10% return on our current endowment funds which was very good, but when the university publishes we are now at XXX amount of dollars they are referring to how much money has been raised for the fundraising campaign.

[crusadermoe]

George W Bush once complained of fuzzy math ( I don'r remember the context).   

It sounds like "campaign math" is a 3-credit course.   Maybe Crusader05 begin our curriculum with the elements of the campaign goal and what counts? And when did the first dollar count?   

[crusader05]

Sorry Crusadermoe if you don't like my posts as this seems to be the second sarcastic response I've received from you.

Please let me know which answers you would find satisfactory? I don't mean to come across as condescending but I was just trying to explain why there is a difference between what's listed on the campaign vs what is listed as our actual endowment.

[crusadermoe]

Ok....I can see the sarcasm perception.  My apologies.  You actually explained the difference between NACUBO and the campaign total well.  Keep up the good work. 

I was baiting you a little  It's not a 3-credit course.  But comprehensive campaigns are a bit of an oddity and I thought you might just lay that out. The count the estate once concept is a big asterisk. 

I realize it has become the national norm, but I wonder at times if the race nationally and regionally to have the biggest campaign total sometimes backfires on colleges.  Valpo is not responsible in any way for that trend.  When annual money and estate pledges are wrapped into totals, those numbers  can breed envy, misinformation, and confusion even within a campus. That is only compounded in the general public as the board has shown. 

[crusader05]

apologies than for taking it the wrong way.

I really don't know the gritty(heh) details of it all but just knew about the estate planning part as I have a friend who's grandfather (a legacy) donated to the fund through his estate plan but is still currently alive and having a good time. as well as hearing about the counseling center donation well before it was ever announced.

I think it can be a bit odd in regards to how these are simplistically branded and how they are actually run for sure, We raised 250 mil for the endowment is a lot more concrete than "we have raised received x amount plus also we gotta wait for these guys to die and also here's a basketball court."

I think with NACUBO coming out and then the University putting out the 10% return piece it got even more confusing as well.