The Wharton Class of 2005 has already begun to demonstrate its dedication to its alma mater by pledging the largest dollar amount ever among US institutions of higher education.
The class raised $1,288,267 for its class gift and registered a participation rate of 98.5 percent.
This is an increase from last year's gift of $776,690 and 98.3 percent participation rate.
Most notably, the class boasts the largest number of donors in Wharton class gift history, with 962 individuals contributing.
Broken down by program, the traditional MBAs raised $883,284 and the Executive MBAs raised $305,983.
The donors consist of graduating students from the Philadelphia and San Francisco executive MBA programs, as well as the traditional MBA students.
Funds also came from Wharton alumni who had been invited to provide "challenge gifts" in order to encourage student participation. Four challenge donors contributed a total of $154,000.
These challenge donations were structured to increase with greater student participation, thus acting as an incentive.
The two alumni challengers for the MBA program were Rodney McLaughlan, who received his master's from Wharton in 1978, and Ronald Haft, who holds both undergraduate and graduate degrees from the school.
There has also been a strong commitment on the part of Wharton's international students, with 97 percent of them donating to the 2005 Wharton class gift.
Furthermore, 43 countries around the world achieved 100 percent participation.
This includes 100 percent participation from the entire Latin American region.
Wharton Dean Patrick Harker called this a "monumental accomplishment" that "mirrors the great character [the students] have shared with the school over the last several years" in a statement.
Wharton spokesman Steven Oliveira said, "An impressive new standard has been set by the Class of 2005. ... Their gift sets the benchmark for business schools and higher education."
In order to ensure maximum participation on the part of the MBA graduates, the 2005 Class Pledge Planning Committee developed a linear program in which 80 Pledge Committee members were recruited.
These volunteers contributed two to four hours a week to receive special training in fundraising by Legal Studies professor Stuart Diamond.
Each of these 80 volunteers then held face-to-face discussion sessions with fellow classmates, in order to encourage donation as a means of fostering pride in Wharton and securing Wharton's future.
"We didn't want people to donate for the sake of donating. We wanted them to feel enthusiastic about the school," said Mona Bijoor, a member of the MBA program's 2005 Class Pledge Planning Committee.
The committee also enlisted the help of many alumni, such as Alfred West, Philip Darivoff and Gloria Rabinowitz, each of whom came in to speak to the MBA graduates.
The most vital impetus behind this kind of campaign to foster a long-term vision of alumni-giving is Wharton's $436 million endowment, which ranks only 12th among other business schools on a per-student basis and amounts to roughly a quarter of Harvard Business School's endowment.
"Wharton has been successful doing a lot with a small endowment, but we have to realize the importance of donating," Bijoor said, adding that this type of donation from graduates "motivates the alums to donate."
