W&L Annual Fund Soars to $10.4M; Overall Giving Nears $71M

W&L Annual Fund Soars to $10.4M; Overall Giving Nears $71M Generous alumni, parents and friends contributed more than $10 million to W&L's Annual Fund in the 2023-24 fiscal year, achieving the largest Annual Fund in five years.

By Emily Innes
July 19, 2024

Thanks to Washington and Lee University's generous community of donors, the 2023-2024 Annual Fund raised $10,431,771 to support all areas of the university's strategic plan to foster a leading liberal arts and legal education. Giving increased by $138,756 over the previous fiscal year, marking the largest Annual Fund in five years and the fourth-highest total in W&L history. The Law Annual Fund, comprising alumni, parents and friends of the Law School, raised $1,433,126, exceeding its $1.4 million goal. Total giving to all areas reached nearly $71 million, the third-highest total in W&L history. The areas receiving the highest level of support in 2023-2024 were scholarships, with $21.2 million for undergraduate and $10.3 million for law.

In the national context of philanthropy, W&L shows growth and is positioned for continued success. Despite a general decline in donor participation nationally and among peer institutions, W&L remains strong. The undergraduate alumni participation rate was 34%, with overall dollars up. Alumni contributed more than $7 million - the highest undergraduate total in five years.

Volunteering is one of the main avenues for alumni to support university initiatives and have a direct impact on student opportunities and success. More than 700 volunteers worked tirelessly throughout the year to garner Annual Fund participation from their classmates and parents.

Susan Wood, vice president for university advancement, attributes this year's success to the dedicated staff and alumni and parent volunteers who make such impressive fundraising possible.

"Each year, the W&L community rises to the occasion and invests in today's students through their generous support," said Wood. "Our remarkable network of alumni, parents and friends make a difference in the lives of W&L students by providing them with outstanding learning opportunities. We're incredibly grateful for their extraordinary ongoing generosity and leadership."

Reunion classes ending in 4s and 9s celebrated their anniversary years, gifting over $1.6 million for this year's Annual Fund and raising more than $5.5 million in gifts and pledges. An impressive $1.5 million of the multiyear total came from the Class of 1994, setting a new overall reunion gift record in honor of its 30th reunion. The Class of 1999, led by Cory Mettee Birdsall and T. Blair, set a new 25th reunion record of $7.3 million in gifts and pledges to multiple university priorities, including the Annual Fund and the class project, the Lindley Center for Student Wellness. Supporting various university priorities including the James D. Farrar Sr. '49 Memorial Scholarship, the Class of 1974 raised more than $4.8 million, the largest 50th reunion gift in four years. Collectively, this year's reunion classes contributed more than $33 million to the Leading Lives of Consequence campaign.

The Parents Fund is a vital component of the Annual Fund and raised $1,568,604.77 for the fiscal year. Wimberly and Richard McPhail P'24 co-chaired the Parents Leadership Council, which had a membership of 181 families in 2023-2024. "The W&L community is truly special," Wimberly McPhail said. "During our four years as parents and as co-chairs of the PLC, we have been impressed time and again by how supportive families are of one another, and the Parents Fund is a fantastic example of the parents' commitment to W&L."

"Our parents are inspiring because they want to ensure the best possible W&L experience, not only for their student, but for all students," Richard McPhail added. "Their gifts are a critical component of the Annual Fund and of the leading liberal arts education W&L delivers."

In addition, the Senior Gift is an almost 100-year-old tradition that allows graduating seniors the opportunity to give back to the university through gifts to the Annual Fund. The Class of 2024 raised $5,244 to support priorities like student success, achieving 53% participation with 232 donors in the class - 23 of them giving $100 or more to join The President's Society, W&L's leadership annual giving society, at introductory young alumni levels. Jules Seay '24 and Nathan Unger '24 volunteered to rally their classmates as co-chairs of the Senior Gift Committee.

Josephine Schaeffer Covington '96, P'24 served as Annual Fund Chair, concluding her two-year term June 30. Covington and her husband, Robert '97, P'24, are loyal supporters of W&L and have volunteered in various roles many times over the years to support the university's mission. "I have always been passionate about the Annual Fund, and my in-depth work over the past two years has only strengthened that passion," Josephine Covington said. "The Annual Fund truly is the grassroots of philanthropy at Washington and Lee University."

Gifts help make W&L's world-class liberal arts education a reality for every student. This year's fundraising results play a crucial role in advancing the university's strategic plan, and the W&L Annual Fund provides the foundation for that work. The university is incredibly grateful for this support and looks forward to welcoming alumni and parents back to campus this fall.