Middlebury Initiative raises $338 million

Despite the effects of the economic downturn in the past two years, the Middlebury Initiative has raised approximately $338 million and is well on its way to its goal of $500 million.
The Initiative is a fundraising campaign that is designed to raise money for the priorities of the College. The money raised consists of donations made by alumni, parents, faculty and others.
This iteration of the Initiative in particular is focused on raising money for global opportunities and global outreach, according to Associate Vice President for Development in the College Advancement Office Risé Wilson.

“Our tag-line is really ‘Liberal arts, global action,’” said Wilson.

First, collected money is spent on students and faculty through things such as financial aid and paychecks. Once these areas have been covered, the rest of the money is put toward advancing the College’s commitment to sustainability and other environmental goals, expanding the C.V. Starr Schools Abroad, expanding programs at the Language Schools over the summer and supporting students in applying their liberal arts education globally through internships and research.

The Initiative began in 2005 and was publicly announced and launched in the fall of 2007, but the recent economic downturn has delayed the $500 million goal.

“We are probably anticipating June of 2014” as the date the College will reach $500 million, said Wilson. “Originally we were hoping 2012. We think we probably lost about two years because of the economic downturn, so it will probably take an additional two years. But time will tell.”
Specifically, the College saw a decrease in the number of donors willing to make multi-year commitments. Long-term gifts are less common because people are unsure of where the economy will be in the years to come.

However, recent months have seen donors increasingly willing to consider making long-term gift commitments. President of the College Ronald D. Liebowitz has worked hard to continue to encourage donors to make these long-term pledges to the College.

“I’ve taken more trips in the last 18 months than in the previous 18 months,” he said. “I would say that in the last six to nine months the prospects that I see — those in the top of the giving spectrum — are much more willing to have gift discussions. So it’s getting better and I’m optimistic.”

Liebowitz is not the only one who has worked to keep funds high. In order to accommodate those who would normally be long-term donors, members of the College Advancement Office accept a donation for the year, but ask to continue conversation with the donor later in the year in hopes to encourage them to continue donating.

These are all tactics for higher-end donors, but the College also has a continued focus on smaller donations that help with participation and really add up.

In light of the recessed economy, the Initiative has needed to be flexible, but this seems not to have shaken the attitudes of those in the College Advancement office. Though the date of completion for the Initiative has been pushed back, the mindset of those leading the campaign is focused on the successes of the fundraising instead of the difficulties.

“Certainly the downturn in the economy for two years has made fundraising more difficult,” said Wilson. “The climate has changed and probably changed forever. So really we feel more strongly about the impact that the money we have raised will have than about reaching a certain dollar goal. So we certainly want to reach $500 million, and we will, it’s just a matter of how long that will take.”