The University of Vermont brought in a record $29,069,046 in gifts during the year that ended June 30, the university announced Monday.
The latest total compares with a previous annual high of $28,615,707, four years ago, but it pales in comparison to the yearly amounts that will have to come in over the next decade for the university to fulfill the most ambitious fundraising goal contemplated for its next major campaign.
UVM is gearing up for the most robust comprehensive fundraising effort in the institution’s history. A private foundation, with its own board of directors and its own bylaws, has been established to spearhead that effort. On Dec. 31, the university will eliminate its Development and Alumni Relations Office, and most of those employees and functions will be taken over by the foundation, which will be headed by Rich Bundy, UVM vice president for development and alumni relations.
Bundy, the foundation’s CEO and president, will leave UVM’s employ when the new organization goes into full operation.