Record Results for the Annual Fund
The Cooper Union community has demonstrated its passion and commitment in supporting the Annual Fund, which has raised the highest total in its history.
At $3.1 million, we have exceeded our $2.5 million goal and increased our total Annual Fund dollars by 41 percent in FY 12 compared with FY 11. The Annual Fund provides unrestricted dollars to help cover Cooper’s operating expenses (which were $70 million in FY 11 according to the audited financial statement).
Alumni, parents, students, staff and friends of Cooper should take pride in this response to the financial challenges facing this institution, and in their generous support towards the education of our extraordinary students. We are heartened by the increased participation rates of our three major constituencies:
- Alumni participation rose 3 points to 25 percent, a 15 percent increase over last year, generating $2.1 million (a 42 percent increase in contributions).
- Parent participation rose 7 points to 36 percent, a 24 percent increase over the previous year, generating $360,000 (a 64 percent increase).
- Student participation was 69 percent, with more than 9 in 10 graduating seniors taking part, generating $25,600 (a 360 percent increase).
The above Annual Fund totals are part of the overall total of $9.7 million that was received in fiscal year 2012. The $6.6 million non-Annual Fund portion includes gifts, grants, and payments on outstanding pledges from the last capital campaign. Of such $6.6 million, $900,000, or 14 percent, comes from corporations and foundations. Representing gifts for the endowment or current programs, the $6.6 million is allocated as follows: $2.5 million in scholarships and awards; $1.8 million in academic programs; $1.3 million in physical plant funding; and $1 million in additional operating support.
Thank you for your commitment to Cooper. We are confident that with continued support we can build on this foundation in fiscal year 2013 and beyond.