Word: reardon
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...this is in the effort to tap Harvard's 234, 136 alumni, including 81,000 graduates of the College, for donations. "We hope every alum will give as much as they can every year and periodically more than that," says Thomas M. Reardon, director of the University development office. With a $650 million annual budget, "Harvard is a large business," says Reardon. "If you look at what Harvard tries to do, we need all the support we can get and we need to get over the stereotype that we're rich. It's costly and time-consuming...
...Giving used to be a once in a lifetime thing; cycles are going to be shorter," says Reardon. Harvard's last major campaign before the recent five-year drive was in 1956; Reardon predicts that "it is not seriously out of proportion" to assume that the next fundraiser will come in 10 years...
...endowment was never intended to provide a majority of funding for the institution," says Reardon. "If the purpose of the endowment is to provide a stable base for the University to grow on for the future, then we cannot raise the endowment's [share of the budget] to meet growing operating costs...
With a nationwide network of 4000 volunteers, the development office has kept in contact with 90 percent of the best Campaign solicitors, says Reardon. Their ranks were augmented by "new, strong people uncovered by the Campaign who emerged through exercise," he adds...
...number of alumni donors, which had been "disappointing in the past," found a "broader basis for support" as it hopped from a 35 percent participation rate to a 60 percent high during the Campaign, says Reardon...