The 1953 Alumni Fund
ANOTHER Dartmouth Alumni Fund has become history. The 39th, in a long succession of distinguished achievements, produced new highs in alumni generosity and participation. All previous records were broken in a truly remarkable performance.
In Summary
17,376 alumni, parents and friends contributed $671,147 both new records.
This represents an increase of 1,230 givers over the previous year and $59,616.
Alumni participation reached a new high at 66.6% which not only is a new record but also exceeds the participation of any other college alumni fund. Two out of three living alumni participated.
The average gift increased from $37.88 to $38.63. This is the figure which is used in comparing the performance of the various college alumni funds.
More classes attained their objective than ever before - 35 out of 60.
Finally, more classes exceeded any previous dollar total. 39 out of 60, or 65%, achieved new dollar records.
The charts and tables accompanying this report present these statistics in greater detail and warrant careful study.
How Funds Were Used
After deducting campaign expense of less than 8%, $551,543 was applied to operations, converting a deficit to a small operating surplus. Following the practice of the past two years, the $70,000 excess over objective was earmarked for scholarship aid, making a total of $220,000 so used in three years. $30,000 was appropriated to provide a second endowed Alumni Fund scholarship. $40,000 was added to the Alumni Fund Scholarship Reserve which now exceeds $200,000. (See chart on next page.)
To quote from the annual report of the College Treasurer "the 1953 Alumni Fund again not only made it possible for the College to go through another year with its financial strength unimpaired, but for the third successive year provided additional resources for improvement of the student financial aid program."
As recently as 1950 the Alumni Fund produced a total of 1415,000 —no mean accomplishment, but dwarfed by the startling achievement of the following year when the Fund reached $577,000. That this extraordinary increase of 40% in one year did not represent a seldom attainable peak is evidenced by the result of succeeding years $611,000 last year and $671,000 currently. The Alumni Fund has established a new level of giving.
The marked improvement in recent years is due to increases in both average gift and participation in short, a greater realization of individual responsibility.
The 1953 Fund and its predecessor last year witnessed a pronounced improvement in the performance of the younger alumni generation. 1951 set the pace last year with 98% of objective. This year, 1951 two years out of college and with the majority of its membership in the service reached an amazing 126% of objective. 1950 followed closely with 107%, and 1952 with 102%.
These results are heartening because traditionally the younger alumni have not appeared to take a realistic view of their financial responsibility as measured by their annual giving. Indeed, the classes which have been out of college 25 years or less still represent the greatest potential for continued fund growth. For example, 15 of the 25 classes which failed to make their objective in 1953 (see chart on page 8) were younger classes graduated during the past 25 years. This group includes those who are just getting started after graduation and also those approaching their greatest earning power. The Fund will require the thoughtful support of this important group if it is to meet its future objectives.
A New Level of Giving
Older alumni, as usual, did their full share despite the retirement of many with attendant reduction in income. The median alumni dollar was contributed by the Class of 1924, out of college 29 years last spring. Twelve classes exceeded $15,000, nine of them past their 25th Reunion. The Class of 1925 set a new dollar record, giving $22,688, and the Class of 1923 also exceeded $22,000.
Parents again contributed substantially with a total of $46,479 from 771 families, an average gift of $60. Their enthusiastic and generous support of the College is a gratifying development of long-range importance. All alumni would join me, I know, in congratulating William H. Coulson and his Parents Committee on the splendid result they achieved last spring.
The emphasis on scholarship aid and the promise that any income over and above the current needs of the College would be diverted toward the support of needy students undoubtedly caught the interest of many alumni. In the current freshman class some 25% of the students are receiving aid as against a total for all undergraduates of 19% only a year ago. We are approaching the 25% level which President Dickey has indicated is the minimum need and which is still far short of the figure attained by many of our sister institutions.
Secondary Benefits
Many benefits accrue from the practice of annual giving in addition to the central purpose of financial support. For one thing, alumni are given the chance for self-expression. Many take that opportunity to write to the Fund Chairman, Class Agents, or Hanover expressing opinions on a wide variety of subjects such as the administration of the College, the political complexion of its faculty and the caliber of the undergraduates; and also conduct the fund solicitation and the need for such supplementary income. It is healthy to rid one's self of doubt and misgiving, and the Fund organization has frequently been able to correct misunderstandings and dispel false rumors.
The Fund also gives an increasing number of alumni more than 1400 this year the opportunity to serve the College as head agent, class agent, newsletter editor and regional worker. Active participation by some 5% of Dartmouth men cannot fail to increase alumni interest in the things the College is doing as these workers become better informed. Recurring annual contact with the College through the Alumni Fund fans the spark of enthusiasm into the glow which we all recognize as the Dartmouth Spirit, a unique attribute possessed by Dartmouth men.
Our Fund Unique
Dartmouth's is the oldest college alumni fund. It was born of necessity, for Dartmouth, unlike many other colleges, was not blessed with a large endowment. Alumni recognized the need for supplementary income and hit upon a happy solution "living endowment." The Fund has contributed $7,250,000 to Dartmouth's resources since its inception in 1915, 25% of this total in the last three years. Certainly this is a ringing answer to the problems of the financially vulnerable small liberal arts college which plays such an important role in developing intelligent leadership in a world which so badly needs it. It should reassure those who feel that the only possible answer is federal aid.
The methods and procedures of the Dartmouth Alumni Fund are open to all, and indeed have been widely imitated. Dartmouth, however, has maintained an enviable reputation in this field. Its success may be attributed to its three-point program: a worthy cause and a recognized need; a generous, informed and enthusiastic alumni body; and a devoted and tireless organization, both volunteer and staff.
No one can participate in Fund activity without being tremendously impressed with alumni generosity and the basic soundness of this form of support. The great majority of Dartmouth men recognize some obligation to the College and are eager to do something about it. Recurring evidence of this attitude, and its tangible expression, constitutes one of the rewarding aspects of the Chairman's job.
My sincere appreciation goes to the remarkable group of devoted souls who constitute the Fund team. They have given unstintingly of their time, which was frequently not convenient, they have used tact and judgment to accomplish difficult assignments gracefully and without misunderstanding. It has been a distinct privilege to be a member of their winning team, and I thank each and every member of it for the important part he played in accomplishing a most gratifying result.
Special appreciation should be expressed to the classes and their head class agents who set the pace in their respective age brackets and emerged Green Derby winners. The full record appears on pages 4-5 but it is worth mentioning that Marvin Frederick '15 and Roger Wilde '21 in 1953 led their classes to seventh and sixth consecutive victories respectively. These two men and the other four have done much to encourage all workers.
Eleven head agents have retired following the 1953 campaign and we take this opportunity to thank them publicly for their devoted service to the College: George Steele '13, Howard A. Stockwell '17, Philip H. Bird '19, Roger C. Wilde '21, Spencer S. Cook '27, James D. Corbett '32, Alan W. Bryant '37, Wright Mallory '38, John R. Vincens '39, Theodore R. Hopper '43, and Vail K. Haak '49. We shall greatly miss two other agents, Frank E. Rowe '91 and John R. Spring '98, both of whom died during the 1953 campaign.
No Fund report would be complete without a nod to the ladies. If there were almost 1,500 masculine members of last spring's organization, no doubt there were almost as many unsung heroines in homes and offices throughout the land for whose interest in Dartmouth we can be deeply grateful. My heartfelt thanks go to Nick Sandoe Jr. '45 who as Executive Secretary has handled a difficult administrative task with skill and understanding. The Fund is fortunate in having him at the head of his efficient staff of professionals.
And now, in completing this assignment, I again want to record what a satisfying experience it has been. The contacts with alumni and administration, the frequent opportunities to visit the campus with increasing understanding and appreciation these have been rare privileges and more than adequate compensation. I turn the job over to Rog Wilde '21 with my best wishes and the knowledge that in his experienced hands the Alumni Fund will continue to grow in stature and in value to Dartmouth.
KENNETH M. HENDERSON '16
The names of alumni contributors to the 1953 Alumni Fund will be found listed in the class-notes section of this issue.
