U. reaches midpoint money goal

The University raised $99.4 million by the end of 1996, nearly half of the $200 million it aims to collect by June. The University has completed nearly half of its fundraising goals for the 1996-97 fiscal year after a record breaking December, University Trustee Alvin Shoemaker reported to the Board of Trustees yesterday. New gifts and pledges totaled $99.4 million at the close of 1996, almost half of this year's goal of $200 million. The figure represents a 5 percent increase over last year. In addition, receipts for the same period totaled $87.7 million, which is a 20 percent increase over last year. Receipts are the actual dollar amounts received from donors, while pledges are merely a commitment from the donor. New gifts and pledges equaled $50.5 million and receipts totalled $46.9 million in the month of December alone. These numbers include former University Trustee Jon Huntsman's $10 million endowment to the International Studies and Business Program, as well as several other large gifts. Gordon Hattersley, a 1954 Wharton graduate, donated $3 million towards the construction of the new Wharton Classroom Building, which will built on the current Book Store site. The fundraising numbers for December also include a $2.1 million contribution from the estate of Louise and Edmund Kahn for an endowed fund in faculty excellence and a $1.5 million donation from James Dunning, Jr., to renovate the William White Training House. A $2 million gift from the Boettner Institute of Financial Gerontology will serve to establish an endowed chair in financial gerontology -- the study of the costs of aging. This is the first endowed chair in the School of Social Work. During two days of meetings, the Trustees voted to allocate $10 million to cover planning and pre-construction costs for the Sansom Commons project. And the Graduate School of Fine Arts received permission to begin four practice professorships. The program -- similar to one already in use by the Law School, the Social Work School and the Graduate School of Education -- will allow GSFA to appoint "practicing practitioners" for an initial period of five years, said Trustees Academic Policy Committee Chairperson Donald Langenberg. The Trustees also heard financial reports indicating that the College of Arts and Sciences is projected to end the year with a $2.1 million deficit. The Annenberg Center is projected to run a $250,000 deficit, although all other schools are expected to break even. The Trustees Committee on Internationalization discussed attracting additional foreign students and foreign donations by strengthening relationships with alumni abroad. Alumni living outside the United States have complained they feel out of touch with the University. Some Trustees expressed dismay with the quality of support for foreign students within the University. "One guy in the Alumni Office just isn't going to do it," Board of Trustees Vice Chairperson Susan Catherwood said. "There needs to be something in each of the schools." The Trustees acknowledged outgoing term Trustee John Harkins, Jr., for his ten years of service to the Board. The 1953 College and 1958 Law graduate will continue to serve on the Executive Committee of Health System and the Health System's Board of Overseers. Five-year alumni Trustee Andrea Mitchell, a 1967 College for Women graduate, was voted to an additional five-year term.