A Message to Alumni
from Dean's Desk, Alumni E-Newsletter
September 13, 2004
Dear Yale SOM Graduates,
Many of you have heard me speak about my vision for Yale SOM to realize its full potential through strengthening our links to Yale University, and more recently, our development of global centers of excellence. To underwrite the associated costs, the school made a renewed investment in its development and alumni relations program. Thanks to many of you, we are seeing the results.
I am thrilled to report that after five years of steady declines in new gifts and commitments, the school saw a 43% increase in giving, from $4,028,449 in FY03 to $5,769,944 in FY04. A number of alumni and friends of the school stepped forward with major gifts to support priorities including faculty research, scholarships, and programs. Most notable is a $1 million gift from George Wyper ’84, Managing Partner, Wyper Capital Management, for endowment to support research in finance. George’s generous commitment will help our momentum in supporting finance scholarship including areas of particular interest to him such as research in securities, real valuation, and other issues in applied economics and finance.
There is other great news about this year’s fund raising. Under the able leadership of Bo Hopkins ’86, the Alumni Fund achieved an all-time record for gifts and pledges, raising $571,927 for the unrestricted needs of the school. Of all the professional schools at Yale, SOM saw the largest increase in giving from alumni. This record exceeds last year’s results by 30% and can be directly attributed to the alumni volunteers – Class Agents – who contacted their classmates. SOM continues to lead all business schools except Tuck at Dartmouth in the percentage of alumni who make annual gifts. These unrestricted dollars are used to underwrite the costs of financial aid for needy students, faculty travel to conferences, and many other expenses essential to the school’s mission.
For the first time in the history of the school, Yale SOM will be publishing a philanthropy report. The report will focus on the impact of private gifts and volunteerism on the school. It will include stories about special initiatives, including the Class of 2004’s amazing success in raising $169,000 for its departing gift for the school’s facility needs. The report will list all donors to the school, with an invitation to all alumni to invest in the school’s future. Look for this publication in the mail in November 2004.
In the coming years, we will ask our alumni to do even more. Not just in giving back financially, but in getting more engaged in the life of the school. To help build stronger ties between the school and our alumni, we have reorganized our Alumni Relations efforts, and hired a new Director of Alumni Relations, Patricia St. Germain. Pat is the former director of regional alumni clubs and councils at Wesleyan University and brings 22 years of experience in alumni relations and student affairs to SOM. She will work closely with Nevin Kessler, Rita Chepulis and the leadership of the SOMAA to develop and execute a strategic program for engaging and serving the SOM alumni community, with special focus on our regional chapters in the U.S. and abroad, and our growing reunion programs.
So as you can see, there is much happening to strengthen our outreach efforts with alumni and friends. The best years are yet to come – I welcome you to become an active partner in helping the school achieve its mission of educating leaders for business and society.
Jeffrey E. Garten, Dean