Alumni give millions over weekend

Paying back the institution where they may have found their spouse, career, or higher calling, University alumni gave millions of dollars to their alma mater during Alumni Weekend. Alumni from all schools and centers gave approximately $10.8 million in unrestricted funds this year to the University's Penn Fund, Jerry Condon, the fund's director, said this week. And the quinquennial reunion classes -- those graduating in years such as 1987 and 1992 -- donated more than $15 million in restricted and unrestricted gifts, Condon added. The University may spend the unrestricted Penn Fund dollars in areas where University administrators determine the money is needed. Those areas include student financial aid, faculty salaries, library books, classroom and laboratory equipment, campus maintenance and programs in research and education. The reunion classes presented ceremonial checks to University President Sheldon Hackney at a ceremony after the alumni parade on Saturday, said Joanne Hanna, the director of the 25th reunion class gift drive. Condon said that Penn Fund contributions are "running ahead of last year" and that class contributions "compare favorably" to previous years. But he added that there were some stand outs this year as well. The classes of 1927, 1952 and 1977 set records for amounts given by a class in their respective years with respective donations of $171,000, $6.4 million and $367,000, said Condon. Condon also noted that the class of 1967 set a record for most people contributing from a single class. He added that the amount of money on the checks presented to Hackney is the amount of money given and pledged by members of the class at that time only. More money could be donated for the campaign year, which does not end until June 30. Earmarked gifts donated by the reunion classes include $1 million courtesy of the class of 1967 for a lobby in the new Revlon student center, the new 37th Street walk donated by the class of 1962, and a term chair donated by the class of 1942. Condon said that the University's development office presents potential donors with a list of suggestions for class gifts, emphasizing areas where the money is most needed. Hanna added that although the primary focus of Alumni Weekend is "to bring people back to Penn," it is "true that we highlight class giving since it is the end of Penn's fiscal year." She also said that all the money that was donated to the Penn Fund and in the form of class gifts will count additionally towards the Campaign for Penn, the University's five-year, $1 billion fundraising drive that is progressing toward its target.

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