Donors' Report

Exeter College Donors’ Report 2012 EXETER COLLEGE DONORS’ REPORT | 12 EXETER COLLEGE DONORS’ REPORT | 12 From the Rector Our Annual Fund success owes much to to endow one of our History posts and It has been an astonishing year. Never before in the history the tireless work of Emily Watson (2003, an English post respectively. And a large of the College have so many of our Old Members made a Lit Hum), our Development Officer, and anonymous gift will help to endow the donation to the Annual Fund. And never has the College had the whole Development team, together cost of bursaries, which the College will with our students, who participated in support to help students from poor homes such a remarkable year of large gifts and pledges. three telethons last year (and loved the with the huge increase in tuition fees. reminiscences you shared with them). The Annual Fund raised £675,308 in Even more impressive than the overall Now we have to do even better in the It’s moving to see such affection and 2012, by far the largest amount it has ever sum is the number of alumni who coming year. After all, it would be great to support for the College, especially received and a staggering £145,000 more contributed. We are now the top College get from 29th into the World’s Top Ten, during tough economic times. We are than it raised last year. This will help us in Oxford in terms of participation with and if anyone can do it, it’s Exonians. enormously fortunate in the affection and support the tutorial system, help students 36.7% of alumni giving (and 40% of support of our Old Members. Thank you! in financial hardship, and contribute undergraduate alumni giving). We have Meanwhile, we have had some wonderful to the building of our new campus on this year achieved our ambition to get large gifts which will enrich and benefit FRANCES CAIRNCROSS Walton Street. to the top of the Oxford participation College life in the years ahead. Most RECTOR league – which almost certainly means remarkable is a £4m pledge by Sir we have the highest participation rate Ronald Cohen (1964, PPE) towards outside the United States. We are now the cost of building Walton Street. This ranked the 29th institution in the world magnificent gift, added to his previous in terms of alumni participation. What an generosity to the College, makes him achievement and what a testimony to the our largest single donor in 700 years. generosity of the Exeter family! We have also received a splendid gift of £160,000 from Henry Kloppenburg And the future looks brighter still. More (1968, Jurisprudence) and a further than half our former students in the four pledge of £1m from an anonymous Old youngest years (those who came up in Member. Both these gifts will also help 2006, 2007, 2008 and 2009) made a with the cost of Walton Street. gift to the College. And 95% of leaving undergraduates pledged a gift in response Two generous donors will allow us to to the Leavers’ Gift appeal. As you might benefit from the Teaching Fund, through expect in these tough times for young which the University matches large people, the amounts were often small – but endowment gifts for shared academic what we treasure is the commitment which posts. Gifts from William Jackson (1983, sets the example for both those in other Geography) and Peter Thompson, a years and the next generation of alumni. Friend of the College, will make it possible 2 3 EXETER COLLEGE DONORS’ REPORT | 12 EXETER COLLEGE DONORS’ REPORT | 12 College Finances Income Statement by Eleanor Burnett, College Accountant 2011-12 The financial support of alumni over the past 700 years, INCOME (£,000) and their on-going generosity over the last 12 months, has Academic Tuition Fees 2,350 generated over a third of the College’s income this year. Accommodation and Catering 2,001 Conferences and Functions 1,132 The philanthropy of our predecessors has have secured over £11m in philanthropic provided us with a modest endowment gifts and pledges towards this work already. Income from Endowment Return 1,573 which yielded £1.6m, while donations We continue to ensure that all expenditure Donations (Including Annual Fund) 1,675 made this year raised over £1.6m. Together is closely monitored, and to identify new Income from College Assets 385 with income from tuition fees (26%), potential supporters who wish to help the TOTAL INCOME 9,116 accommodation and catering (22%), and a College secure its new quadrangle. steady conference trade (12%), the College has succeeded in securing the funds required Our careful budgeting and restrained EXPENDITURE (£,000) to provide the outstanding education to investment policies are paying dividends Tuition and Research 3,292 which we are committed for another year. as the markets continue to fluctuate. Student Support 586 Restricted funds have generated a surplus We have worked hard to manage our of over £600,000 to be carried over into Accommodation and Catering (Including Conferences) 2,646 expenditure this year to ensure that our 2013, ensuring that we will continue to be College Administration 759 core activity of tutorial teaching is not able to offer full funding for the restricted Development Office 508 affected by the reduction in government scholarships and teaching posts that they College contribution 23 funding prior to the rise in tuition fees. support, even in difficult years ahead. Interest payments on Walton St site 441 Forty per cent of our budget is allocated either directly towards tuition or towards We will need to continue to manage our TOTAL EXPENDITURE 8,255 the costs of supporting the infrastructure finances carefully in the year ahead. The of a collegiate education. This includes IT introduction of £9,000 fees will only net SURPLUS FOR THE YEAR (£,000) and library provision, maintenance of our us approximately £300 per capita extra Unrestricted* 863 physical environment of student bedrooms, after the removal of the HEFCE funding † teaching rooms, and public spaces, and and the costs of the generous financial aid Restricted 626 generous financial aid for students in need. packages Oxford now offers are taken into TOTAL SURPLUS 1,489 account. Exeter and Oxford will therefore This year the Walton Street site continue to subsidise the education of * Surplus unrestricted funds act as a buffer should future years be more financially challenging and enable redevelopment saw its first full year of students, just as they have done for the last the College to pursue its capital expenditure programme. This year a College property was sold enabling the expenditure on design consultants, as 700 years, but this is a challenge we know College to reinvest that income in the upgrade of staircases 10 and 11. well as payments towards the original we can face with confidence thanks to the † Surplus restricted funds are carried forward to spend in future years on the appropriate restricted projects. purchase of the site. We are fortunate to generosity of our alumni supporters. 4 5 EXETER COLLEGE DONORS’ REPORT | 12 EXETER COLLEGE DONORS’ REPORT | 12 HISTORIC ANNUAL FUND INCOME HISTORIC PARTICIPATION RATE AT EXETER COLLEGE The Exeter College 700 40 650 35 600 30 550 Annual Fund 25 500 20 450 15 The 2011–12 financial year has been, by a long way, the 400 Participation rate % most successful year the Annual Fund has ever seen. Gross amount (£000’s) 350 10 300 5 With a fantastic £675,308 raised in overwhelming generosity this incentive 2008 2009 2010 2011 2012 2008 2009 2010 2011 2012 unrestricted income from 2,247 Exonians, prompted, and after just one year we College Financial Year College Financial Year This valuable source of unrestricted income has grown This year has seen an extraordinary rise in the number of alumni the College is able to continue to provide are indeed not only the institution with significantly over the last five years to provide a sum equivalent choosing to support the College. outstanding academic and extracurricular the highest proportion of alumni giving to the annual return on an endowment of over £20m. facilities to all students, irrespective of their in Oxford, but we are in fact 29th in the AVERAGE GIFT TO THE ANNUAL FUND 2011 AND 2012 PARTICIPATION RATES BY DECADE 2011 AND 2012 personal means. While donors are invited world, according to global participation 900 50 to express a preference as to where they rankings, and first outside the USA. The 800 2011 45 2011 2012 2012 direct their gift, 89.4% of monies donated pledge of £131,400 has now been released. 700 40 35 were directed to ‘wherever the need is 600 30 greatest’ or were unspecified, underlining In total, 36.7% of all undergraduate and £s 500 25 the trust our alumni have in Exeter to graduate alumni made a gift between 400 20 300 Participation rate % utilise the money in the best possible way. August 2011 and July 2012. Williams 15 alumni also gave generously. Perhaps 200 10 Almost every Exonian will have heard most encouraging of all, almost 50% of 100 5 of our special participation challenge Exonian undergraduates who matriculated Pre- 1950s 1960s 1970s 1980s 1990s 2000s Pre- 1950s 1960s 1970s 1980s 1990s 2000s 1950 1950 for 2012. Ten generous alumni pledged between 2000 and 2009 chose to support Decade of Matriculation Decade of Matriculation The average gift in 2012 was just 6% lower than in 2011 despite Outstanding increases in the number of undergraduate and graduate to release a gift of £131,400 if Exeter the College last year.

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