Donor's fundraising challenge nets $6.5M

There is something to be said for leading by example, according to University Trustee George Weiss.

Weiss, a 1965 Wharton graduate, challenged Penn alumni to donations of $2 million or more after his surprise donation last November of $14 million for financial aid.

So far, four alumni have stepped up and met his challenge, giving a total of $6.5 million.

According to Penn President Gutmann, Penn has received three gifts of $1.5 million and one gift of $2 million since Weiss' gift.

Weiss helped the $1.5 million gifts meet his requirements by paying the additional $500,000 to help them reach the $2 million marker. At that point, donors become members of the "Men and Women of Pennsylvania,"a title for those who participated in the program.

Weiss' donation "has been just terrific in itself and also has had a great multiplier effect as we had hoped it would," Gutmann said.

University officials say that Weiss' initial donation has been key to garnering support among potential donors.

"I think it has a huge galvanizing effect," said Vice President for Development and Alumni Relations John Zeller, calling Weiss a partner in a larger University fundraising plan.

Weiss' campaign comes at a time when the University is already doing well on a national scale in terms of fundraising.

According to a report issued last week by the Council for Aid To Education, which performs research related to higher education, Penn ranked fourth in the nation for university fundraising in the 2005 school year.

The University raised over $394 million over that period, much of which was made up of grants to Penn's School of Medicine. Most of the universities ranked near the top in the report have large health systems as well.

Stanford University led the pack, with over $600 million in donations. The University of Wisconsin at Madison and Harvard University were ranked second and third, respectively.

Gutmann said she is hopeful that Weiss' drive will maintain the momentum into next year.

But as the trustee is attempting to galvanize graduates to give, the number of alumni donating to American universities is on the decline, according to the report.

While overall fundraising for universities nationwide went up nearly 5 percent in 2005 compared to 2004, fewer alumni are generally donating larger gifts. Gifts from foundations, however, increased by almost 13 percent, according to the report.

Zeller said that the trend has been reflected at Penn.

Alumni donations this year are double what donors pledged by the same time last year, but fewer alumni donated to the University -- 28 percent compared to 30 percent last year.

The University is currently planning a capital campaign which will begin within the next two years. Weiss will be a leader in that campaign, Executive Vice President Craig Carnaroli said.

He added that Weiss' donation helps lay the groundwork for the donation drive.

Zeller said that while donations of $2 million or more are important, smaller donations make up a quarter of the money Penn raises.

"People say, 'If I give $20, will that help?' Absolutely," he said, noting that Penn raised about $112 million last year from donations ranging from $1 to $100,000 that came from over 125,000 individuals.

Several larger donations to the University have also recently made the news -- the Annenberg Foundation gave $5 million to the School of Nursing and $10 million to the Annenberg School for Communication earlier this month.

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