In the face of difficult economic times spurred on by less consumer spending, University parents and alumni are defying the odds by making larger donations than ever to the Wesleyan Fund.
According to Director of the Wesleyan Fund Pam Vasiliou, the average individual gift size this year has increased from $85 to $105, and total gift giving is up by $39,000, or 13 percent.
Assistant Director of the Wesleyan Fund Zachary Webster ’06 believes that the student callers for the Red and Black Society are the reason for much of the Fund’s success this year.
“I would attribute it to the students,” he said. “The program has become more and more organized every year.”
He added that, for parents and alumni on the receiving end of student calls, “It is a pleasant, enjoyable conversation.”
According to a May 1 New York Times article, not everyone is experiencing the same financial growth as the Wesleyan Fund.
“Consumer spending fell for a broad range of goods and services, including cars, auto parts, furniture, food and recreation, reflecting a growing inclination toward thrift,” the article stated. “Areas in which spending rose were predominantly those not considered optional purchases, including health care, housing and utilities.”
As national spending on unnecessary expenses drops, Webster makes sure that student callers stress the necessity of donations. According to the Fund website, contributions are critically important for funding costs to students.
“These gifts help close the gap between tuition, fees and endowment expenditures, and the overall expenses involved in operating our university,” the site reads. “Most importantly, these gifts are helping Wesleyan succeed in decreasing its dependency on the endowment while allowing the University to maintain its high educational standards and commitment to need-blind admission.”
Student callers also stress President Michael Roth’s new financial aid initiative, which will give financial relief to the University’s most needy students. Roth even paid a visit to Red and Black, motivating student callers about the importance of their work.
Economic decline has certainly impacted some individuals’ ability to donate at the same monetary level as previous years. But Webster said that even callers who express financial difficulty often give any amount they can. These donations, referred to as “participatory gifts” by Webster, are contributions from those who may not be able to give as much as they have in the past, but still wish to contribute to the Fund.
For Vasiliou, possible repercussions from the economy have been a point of consideration.
“We’ve thought about it,” she said. “But fortunately we haven’t had to address it.”
However, Webster feels that the success of the Fund will only continue.
“I honestly don’t see us encountering any problems,” he said.
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