How are we doing?
Number of 2010 classmates that have given: 79
Participation Goal by June 30: 25%
Participation Met: 12%
Dollars Received: $3,114
Pledge Balance: $320
Total: $3,424
Thanks so much to everyone who contributed this year! 2010 did a solid job in the FebruMary Challenge. But we have a ways to go before we can meet our goal of 25% participation. Can we get there by the end of the fiscal year?
For many of us, the idea of giving money to MHC can feel a little premature. After all, most of us are still paying back loans and will continue to do so for quite some time. Additionally, we are in a stage of attending graduate school, starting families, buying homes, and all sorts of expensive stuff. But it’s important to remember that the size of the gift is not necessarily what matters – the important thing is participation. While every dollar counts so that MHC can continue to operate and provide aid to 70% of its students, the participation rate is also a very important indicator of institutional health. It even factors into our rankings in the US News and World Report, which, for better or worse, remains a big player in drawing new students to the school, as well as the kinds of grants MHC will receive.
In recent years, 40% of the 30,000 living alumnae gave to the college, raising a total of $8.7m (more on this here). While this compared favorably to our sisters at Smith and Wellesley, colleges like Amherst and Williams typically have participation rates in the 60-70% range. Of the 9,000 young alumnae, the giving rate reached 20%.
So what will your money be going to? By giving to the Mount Holyoke Fund, your money supports our enormous financial aid budget, bringing in top students regardless of income. It goes to establishing new programs like Nexus, our Curriculum to Career minor option, and keeping us on the cutting edge of technology. It funds faculty salaries so that we can attract and retain the best professors, and it also allows us to keep our buildings and grounds in good shape so that we don’t have leaky ceilings and environmentally-unfriendly buildings. At this time, tuition – the amount of money being paid by students and their families – accounts for only 59% of the operating cost of the school. That means that Mount Holyoke relies on alumnae, family, and friends, as well as grants and returns on the endowment, to cover the other 41%. And while our endowment is sizeable at $588m, we must do more with less than many of our peers, including Smith and Wellesley, whose endowments both top $1billion.
If you would like to make a gift to MHC, there are lots of ways to do so. Mail a check using the form you received recently, or use PayPal or a debit or credit card here: https://www.mtholyoke.edu/giving/givenow.html