Why can’t the college simply raise more money in order to close the budget gap?
The financial model that we use to understand the current budget gap already includes the anticipated results of an aggressive fundraising effort in its revenue projections. To close the budget gap through fundraising would require setting additional goals at a level that is unrealistic. During the 2008/09 fiscal year the college raised more than $44.2 million in new gifts and pledges – the second strongest year in Vassar’s history. This represented an impressive vote of confidence by Vassar alumnae/i, parents and friends in the college, its core values, its priorities and its leadership. As already noted, these positive results in fund raising have already been factored into the college’s financial planning. Of the total, $16.1 million came in the form of pledges, which will be paid into the college over a period of three to five years. Pledges such as these are vital to the college’s financial health precisely because their multiyear nature allows for advance budgetary planning. In a
