 | Board of Visitors minutes September 29, 2006 |  |
REPORT BY THE PRESIDENT
Noting that the most important item of business of both the Board meeting and the weekend was the public launch of the Capital Campaign, the President limited his remarks to the customary Gifts and Grants Report.
GIFTS AND GRANTS REPORT
Figures for the fiscal year which ended June 30th, are in - the philanthropic cash flow was $230.1million, an increase of 25.4% over the previous year.
The figure for the first two months of the current fiscal year, which is to say, through August 31st, stands at $23.4million, or 1% below the figure for the same period last year. Nonetheless, the Medical School, Arts & Sciences, the College at Wise and Rector and Visitors all show increases over last year.
Among the gifts cited by the President was the $45million pledge payment from the Ivy Foundation to the Medical School (see Professorships and Namings, below); a $4,970,763.13 pledge payment to the McIntire School Foundation for the School's building campaign; a gift of $2,500,000 from Anheuser-Busch; a $2million bequest to the Medical School from the estate of David Allen Mayhugh; and a $2million grant from the Wallace Foundation, to be divided between the Curry School and the Darden School for the Executive Leadership Program for Senior- Level Educators.
Significant new pledges included $2,750,000 from John L. Nau, III, and Mrs. Barbara Elizabeth Nau to Arts & Sciences for the South Lawn Project; $2,500,000 from David E. Gibson, also for the South Lawn Project; and $2million from Terrence D. Daniels and Mrs. Courtney S. Daniels for the South Lawn Project.
And finally, a pledge of $1,987,052 from Wachovia Bank, N.A. for the John Paul Jones Arena.
On motion, the Board voted to accept the Gifts and Grants Report.
- - - - - - - - - -At 10:15 a.m., the Board recessed to move to the Dome Room of the Rotunda.
| Board of Visitors minutes September 29, 2006 | |