EXETER COLLEGE Donors’ Report 2006 Donors’ Report Contents 2006 From the Rector 2 The Exeter College Annual Fund 4 Student Support 6 Tutorial Support 7 Leavers’ Gift 8 A Huge Thank You 9 Totals Raised in 2006 History Fellowship Campaign 10 Annual Giving £306,954 Major Gifts 12 Major Gifts Table of Benefactors 14 £684,426 Legacies List of Donors by Matriculation Year 15 £28,552 Supporting the College 25 Total Participation Rate Accounts and Disbursements 26 of Old Members 23% Including Exeter in your Will 28 Donors’ Report 2006 Dear Old Members, Fellows, Parents and Friends From his booklet is a long thank-you letter. Your generosity and support have Tallowed us to do many things in this past year that would not otherwise have been possible. We have, for instance, endowed a new Fellowship the in Modern History, securing teaching of 9th and 20th century history for our undergraduates. We have created a portfolio of undergraduate Rector bursaries to help able students who are suffering financial hardship, often because of difficult family circumstances. We have launched new graduate scholarships to attract the brightest and best from around the world, and especially from developing countries. And we have transformed the appearance of the Chapel, by cleaning the dingy grey stonework to reveal creams and golds of astonishing beauty. Thanks to your generosity, we are able to help students who want to attend academic courses or conferences abroad or to buy expensive textbooks for their courses. We have extended our range of travel scholarships. And we have set up an ambitious programme to offer career guidance and internships, many of which are linked to bursaries to ensure that it is not just students from privileged backgrounds who can afford to take up work experience places in the long vacations. Our students have a host of small needs that your support allows us to “This booklet is meet: a pair of rugby boots for a student who could not otherwise afford a long thank- them and therefore could not play for the College; a new set of drums for the (well insulated!) Music Room; funds to subsidise the annual choir you letter. Your tour; the cost of holding a seminar for students, addressed by an eminent generosity and speaker. All these real examples add to the richness and excitement of support have College life. They allow students to learn and experiment and develop allowed us to outside and beyond their formal courses. Even a very small donation is often enough to make wonderful things happen that might otherwise do many things not take place. in this past year that would not Important tasks lie ahead, as we begin to plan in earnest for our 700th anniversary in 204. We will need to increase our support for teaching otherwise have and tutorials. We will need more space for teaching, and we are looking been possible” at ways to refurbish and expand the space in the Back Quad. We need to upgrade the Library, where many students spend so much of their Frances Cairncross time. We need to build more student accommodation. Rector 2 Donors’ Report 2006 We have been fortunate at Exeter College to enjoy nearly seven centuries of philanthropy and we are tremendously grateful to all the Old Members, Fellows, Parents and Friends who have been generous to us over the past year. But I wonder whether, in the next few years, we can do even better. I notice that 23% of our Old Members have made a donation in the past year. That is about the average for Oxford Colleges, although less than half of what many American universities achieve. However, I am struck by the fact that nearly half of our final year of undergraduates have contributed philanthropically. This is an inspiring sign of their belief in the need for each generation of Exonians to give back something for the benefit of those who come after them. Our students know the value of what they have received from the generosity of past generations, and are happy to continue the tradition. It would be wonderful if all our Old Members could match their faith and commit to supporting the College in the years leading up to our 700th birthday. A College is a remarkable institution, with some of the best characteristics of a club, but also those of a family. Each generation plays its part in supporting those who come after. For the sake of posterity, and for the future of scholarship, thank you for your support in the past and the promise of continuing encouragement in the future. Frances Cairncross Donors’ Report 2006 ast year, gifts to the Old Members’ is encouraged to express a LFund accounted for one third of preference regarding the area our philanthropic income. Made of College life about which they The Exeter up of regular and single gifts, from feel most strongly. Gifts to the College Old Members and Fellows, Parents Old Members’ Fund are pooled and Friends, this annual fund is a and then disbursed by the Annual Fund vital resource for financing annual Development Board which takes projects. As a direct result of your into account these preferences. As generosity, we have been able to we do not take an administrative fund bursaries, travel and career charge off the gifts we receive, grants, provide extra tuition where Old Members, Parents and Friends ‘As a direct required, and undertake essential can be assured that 00% of their result of your refurbishment of the JCR and some gift is being used for these projects generosity, of the residential staircases. which would otherwise be under- funded, or simply not happen. we have been hen there are so many able to fund Wrequests for support coming y continuing to underpin core bursaries, travel from so many worthy causes, we Bareas of College activity, the are very grateful that over 20% Old Members’ Fund enables Exeter and career of our Old Members consider to stand out amongst other Oxford grants, provide Exeter a priority in their personal Colleges through the enviable extra tuition philanthropy. Without this regular level of support we are able to offer where required stream of income we would not students. As the number of gifts to be able to guarantee the high the Old Members’ Fund increases, and undertake level of student and tutorial with Fellows, Old Members, essential support we offer each year. Parents and Friends each regularly refurbishment As a middle-ranking College, contributing a sum with which they financially speaking, we currently feel comfortable, we will ensure work’ have enough resources to be that Exeter continues to flourish confident of carrying on in one and excel in every area of College form or another. But we are not a life for many more years to come. rich College and without this vital source of support to augment our endowment income, we will lose Special congratulations to those that margin of excellence that who matriculated in 945, 48% makes Exeter College so special. of whom made a donation last year - the highest proportion veryone who makes a donation for any year Eto the Old Members’ Fund 4 Donors’ Report 2006 The Statistics Endowment of Undergraduate Colleges (2005/06) College Sources of Income for Spend (2005/06) 300,000,000 Fees - 34% Accommodation and Catering - 20% Conferences - 6% 250,000,000 Endowment Return - 26% Donations (from Annual Fund) - 7% 200,000,000 College Investment Income - 7% £ 150,000,000 100,000,000 50,000,000 Exeter 0 As a middle-ranking College, financially speaking, we cannot rely on our endowment income and our thriving conference trade alone. The costs of supporting and teaching students, retaining top Fellows and maintaining our buildings are continuously increasing and we are becoming ever more dependent on the generosity of Old Members, Parents and Friends. Breakdown of Donations Received Philanthrophic Streams of Income (2005/06) Over the Past Six Years 1,400,000 Annual Giving - 30% Major Gifts - 66% 1,200,000 Legacies - 3% Major Gifts Legacies Trusts & Foundations - 0% 1,000,000 Old Members Fund Corporates - 1% 800,000 £ 600,000 400,000 200,000 0 2000 2001 2002 2003 2004 2005 2006 Most of the gifts given to the Old Members’ Fund are used in the same financial year in which they are received to support projects that would otherwise be under-funded or simply would not happen. In addition to gifts made to build up our endowment, other major gifts are often used to fund specific projects such as endowing a bursary or Fellowship, or to enable us to undertake major building works. Donors’ Report 2006 5 ith the increase in “top- Wup-fees” implemented in September 2006, student financial hardship is an even greater issue. Student All our poorest students receive Support some financial help. But Oxford is an expensive place. Inevitably, there are still many students who will struggle during their time at as parents and students are College. expected to contribute to the cost of taking a degree. “The incredible here is now a system of grants sense of and loans for maintenance, T hanks to the generosity of community we which is supplemented by loans for Old Members, Parents and achieve within fees and various bursary schemes. T Friends, Exeter is now able to offer But for some students, particularly these walls is due financial support to any student those from families whose income in no small part experiencing hardship. In addition, is just above the cut-off thresholds, we are able to ensure that no to the provision it is still very difficult to make student is excluded from the of hardship ends meet.