Indiana University Athletics
Varsity Club Annual Fund Update
3/30/2006 12:00:00 AM | Varsity Club
March 30, 2006
BLOOMINGTON, Ind. - The Indiana University Varsity Club and IU Athletics has embarked on one of the most ambitious annual fund campaigns in history. With the generosity of loyal supporters, the Varsity Club concluded last fiscal year in record-breaking fashion. With the cost of scholarships continually on the rise, Indiana Athletics needs your help to make this financial year another success for Hoosier student-athletes.
"There is always an increasing need for annual donations to the IU Varsity Club as scholarship costs rise each year," Assistant Director/Director of Annual Giving Jim Harris said. "We are constantly chasing that moving target in trying to cover the costs. However, with continued loyal support from current donors and the continuous acquisition of new donors, we get closer to that goal every day."
Last Year...
Last fiscal year, the IU Varsity Club raised an impressive $5.57 million in annual giving from donors across our seven annual giving levels. In addition, the Varsity Club earned another $1.47 million in income from our athletic endowment fund. Currently, Indiana boasts the largest athletic endowment fund in the Big Ten. Despite the record-setting year, we still came up short in covering the total university scholarship bill.
The Goal...
This fiscal year it is our goal to raise $6 million in annual giving along with another $2 million in earnings from the endowment fund and other matching income funds.
Well on Our Way...
Two-thirds of the way into this fiscal year, annual fund contributions are up 8 percent over last year. More impressively, last year the Varsity Club raised the most money in the organization's 50-year history.
The Dilemma...
However, private support from our loyal alumni and friends is as important now as it has ever been. Varsity Club donations comprise over 20% of total athletic department income so it is essential that we continue to receive such loyal support. Contributions to the Varsity Club are used to pay the scholarship bill for student-athletes in IU's 24 varsity sports. That scholarship bill includes tuition, books, fees, room and board, etc. Over the last decade, scholarship costs have risen dramatically and will continue to do so. Because the Varsity Club receive no funding from the state or university, donor contributions are essential in allowing our student athletes to compete in their respective sports. The scholarship bill from the university for the current fiscal year is estimated to be near $7.8 million.
The Solution...
If you would like to make a gift to the Varsity Club please click on the following link http://iuhoosiers.collegesports.com/sports/c-varsityclub/spec-rel/make-gift.html or call Jim Harris at 812-855-0866.
