Members of the VMI family signaled their continued and strong support for VMI’s mission in Fiscal Year 2024, contributing a total of $20,460,630 in support of the Institute and the Corps of Cadets. Of that amount, approximately $12.9 million came in the form of cash gifts, $5.3 million were new pledges, and $7.2 million were new commitments from estate and planned giving.
This is no small achievement. The healthy mix of current and future commitments will impact the VMI experience and the Corps of Cadets in a significant way. Of course, we want to first acknowledge the number of donors who step forward to support VMI. This year, both the Keydet Club and the Foundation experienced an increase in donors.
Among several highlights from the recently concluded FY24 were $10.6 million in reunion giving, a figure that includes both present-year and pledged future gifts. Donor generosity was also showcased by an excellent response in two annual online “days of giving” campaigns: Compete to Win, the Keydet Club’s fundraising effort for NCAA athletics, and the VMI Foundation’s Day of Giving for all other VMI fundraising, such as academic and merit scholarships, faculty salaries, and cadet clubs and activities, to name a few.
The Day of Giving, held Feb. 29, leap day, was billed as “an extra day for VMI” and attracted 1,145 donors and raised $272,646.34 for the benefit of the Corps of Cadets. By 11 a.m. on the Day of Giving, the VMI donor base exceeded the day’s goal of 500 donors and expectations for funds raised. Compete to Win, the Keydet Club’s three-day initiative to raise funds for VMI’s NCAA Division I athletics program, brought in $308,249.34. It was the Keydet Club’s most successful crowdfunding campaign yet, with 618 individuals making gifts in support of cadet-athletes.
The Call to Duty Scholarships, deemed a game-changer for VMI by the Office of Admissions, provide room and board funding for cadets already receiving federal ROTC scholarships—and often make the critical difference in a cadet’s decision to attend VMI. In admissions interviews, one of the top reasons appointed prospective cadets hesitate to secure a seat at matriculation is the very real issue of family finances. The opportunity for VMI Alumni Agencies donors to make up the difference of room and board for all four years for very well-qualified cadets is immeasurable in the outcomes of our graduates. In FY24, the VMI Foundation provided $874,000 toward this key recruitment and retention tool, which then supported more than 80 cadets in the 2023–24 academic year.
Class pride and unity have always been a driving force in fundraising success at VMI. The VMI FY24 graduate participation rate was 21%, with 47 VMI classes showing a participation rate higher than 21% and 17 classes boasting 40% participation or more.
For FY24, our endowment fund has demonstrated remarkable growth, reflecting the robust investment strategies and meticulous fiduciary attention applied throughout the year. The fund’s impressive performance, valued at $749,086,848 as of June 30—representing net market growth of more than $83 million—is a testament to the strategic vision and diligent efforts of the management team, who have consistently focused on both maximizing returns and preserving capital.
Ultimately, everything we do is focused on the current and future Corps of Cadets. We could not celebrate this success without the full cohort of those who choose to demonstrate their love for the Institute through giving of their resources. It is truly extraordinary.
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Mary Price Development Writer/Communications Specialist
The development writer plays a key role in producing advancement communications. This role imagines, creates, and produces a variety of written communication to inspire donors to make gifts benefiting VMI. Utilizing journalistic features and storytelling, the development writer will produce content for areas such as Annual Giving, stewardship, and gift planning.
