Public Higher Education at the Tipping Point

From Tipping Point to Successful Turning Point

Alumni Philanthropy Is Part of the Solution

Baruch College Fund (BCF) support has soared from $1.1 million annually in 2000 to more than $13 million and accounts today for nearly one-tenth of the College’s budget. During those years, we have benefited from new buildings, millions in departmental endowments, a doubling of scholarships, and the addition of 78 new faculty at the Zicklin School of Business alone. It is hardly a stretch to attribute Baruch’s consistently high rankings by such opinion makers as the Princeton Review, Kaplan/Newsweek, and U.S. News & World Report in part to donor support.

The most generous gifts—those that register the greatest impact—have usually been earmarked for specific purposes. Consider William and Anita Newman’s 2001 Vertical Campus naming gift, or Lawrence and Eris Field’s 2005 gift naming 17 Lex, or, mostly recently, Lawrence and Carol Zicklin’s second major gift, creating a strategic impact fund at the school that bears their name. The infusion of these alumni dollars makes it possible to initiate new academic programs and fulfill departmental objectives otherwise unattainable.

Smaller, unrestricted gifts, which support students and faculty in myriad ways, are just as important. Unrestricted donations pay for scholarships and other financial aid for thousands of students as well as programs like the Starr Career Development Center and the Writing Center. On the faculty side, unrestricted gifts enable the hiring and retention of the best teaching talent in their respective fields and provide research grants for junior faculty. “While the College has discretion over how unrestricted dollars are spent, the money is not used to pay down debt or close budget gaps,” explains Mark Gibbel, vice president for college advancement. “It is used to bolster our support of student services and faculty.”

The goal isn’t simply to ‘survive’ the next round of state budget reductions but to continue to improve and expand Baruch’s academic offerings without imposing financial hardships on students.”

—Baruch President Mitchel Wallerstein

These are difficult times. This year the BCF’s support of the College declined from its record 2009 levels. But these are not the first challenges that the College has weathered in its 164-year history, and optimism and generosity remain strong. As the BCF moves into the final phase of the Baruch Means Business campaign, every Baruch graduate has the opportunity to help the College achieve its target of $150 million by 2012. The economic crisis may not be over before then, nor is government funding likely to rebound. But, if the generosity and loyalty of Baruch’s alumni continue, the College will be able to remain true to its historic mission of access and excellence.

Have you been inspired to help your alma mater continue to offer a high-quality education to talented, deserving young people? Learn more about what you can do to support the Baruch Means Business campaign by going online at www.baruch.cuny.edu/campaign or by calling 646-660-6060.