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Development Update: Looking Back

Fall 2016

According to the Office of Advancement, the College raised nearly $58 million during the 2015-16 fiscal year ending June 30—the second-highest total in the College’s fundraising history for a single year. All told, approximately $27 million was added to the endowment.

Under the leadership of Carroll Stevens, appointed February 29 as CMC’s new vice president for advancement, the Office of Advancement underwent a successful transition, with three new assistant vice president positions created.

“CMC continues to go from strength to strength in every respect and we continue to diligently move forward in terms of raising the necessary resources to meet the College’s many and varied needs,” Stevens said. “This is very fine progress in a challenging time for higher education, and we should all take encouragement and inspiration from what CMC’s supporters have contributed.”

Some of the factors that contributed to last year’s fiscal success were: student support, capital projects, CMC leadership initiatives, and growth in the College’s endowment. Of the $57.9 million raised, $4.898 million came through the annual fund, within which the Parents Fund generated more than $924,727, an all-time record. Also, Planned Giving (annuities) came in at $6.1 million for the year, more than 20 percent over its goal. As part of wrapping up the comprehensive campaign and The Student Imperative, CMC completed a $25 million estate commitment.

The alumni giving participation rate fell from 39 percent to 35 percent, nevertheless a very favorable outcome compared with our benchmark institutions (CMC continues to have the highest participation among The Claremont Colleges). CMC still reached its goals.

The Student Imperative, CMC’s initiative aimed at supporting the total student experience, surpassed its goal of $100 million raised and concluded with more than $105 million to support financial aid and scholarships. The Imperative was first announced to the Board of Trustees in December 2013, and was presented by President Hiram Chodosh in Washington, D.C., in January 2014.