Virginia Tech breaks fundraising record | Education

About $268.5 million was given to Virginia Tech by alumni, friends, parents, employees and students of the school during the 2021-22 fiscal year that ended June 30, said a news release. That’s compared to a then-record $200 million given the year prior, said President Tim Sands in the announcement.

“Philanthropy is essential for recruiting and retaining world-class faculty and extraordinary staff,” Sands said. “Support from alumni and friends also helps ensure that talented students from all the communities we serve have access to a life-changing educational experience.”

It was not only the highest grossing year for donations to Virginia Tech, but the school also received its largest single gift in history. In December, a class of 1958 graduate donated $35 million to help fund a new college of engineering building.

That donation was part of $78.6 million total raised for the engineering college last fiscal year, the announcement said. Nearly $49.6 million was given to Virginia Tech athletics, which as of April is halfway accounted for with a $400 million fundraising target.

And, during an annual event in February called Giving Day, more than 15,700 alumni, fans, students, faculty, and other supporters collectively gave more than $8.4 million to Virginia Tech colleges, departments, teams and programs, the announcement said.

Vice President for Advancement Charlie Phlegar said Virginia Tech has more plans to grow its culture of philanthropy, and is optimistic for the future, according to the announcement.

“We’re building operations to sustain a $200 million-a-year fundraising operation and aim to grow to $300 million-a-year over the next half-decade,” Phlegar said. “To do this, we’ll keep finding new ways to engage alumni and fans, progress toward our goal to become a top-100 global university, foster innovative partnerships with philanthropic and industry leaders, and ensure the long-term health and success of Virginia Tech.”

The school is continuing its Boundless Impact giving campaign, which since 2019 has raised at least $1.16 billion, with a goal of $1.872 billion, a number referencing the 1872 founding of the university, according to Lynne Doughtie, co-chair of the campaign steering committee, in the announcement.

“The passion and generosity of Hokie Nation has made an impact on countless lives in the form of scholarships, community service, opportunities for students to travel and network in their field, and research that seeks to address the most complex problems facing our society,” Doughtie said. “Virginia Tech achievements on all of these fronts and more are made possible by the thousands of people who choose to invest in our success, and we are extremely grateful to all of them.”