The Campaign for Mississippi State shatters a $78 million goal and raises its sights to $110 with three years to go

Campaign leaders announced on Oct. 1 that gifts, pledges, and deferred gift commitments to the university's first comprehensive fund-raising drive had reached $82 million. The campaign officially began on July 1, 1992, with a goal of $78 million, and will continue as scheduled through June 30, 1997.

Thousands of students will benefit for generations to come from the scholarships and financial aid that will be made available as a result of the success of The Campaign for Mississippi State.

"Thanks to the generosity of many, many friends of Mississippi State and the hard work of a group of very dedicated volunteers, this campaign has achieved a level of early success that few would have thought possible when we began this effort just over two years ago," said James K. Ashford, national general chairman of the campaign.

Of the $82 million total, more than $24.3 million, or about 30 percent, is in the form of outright gifts received through campaign contributions. Another $24.3 million is in the form of pledges payable over a five-year period from the date of the commitment. And about $33.3 million, or just over 40 percent, is in the form of deferred gifts that will be realized at some unspecified time in the future.

"To everyone who worked so hard to bring us to this point, and to all who have made financial commitments already to help strengthen the university, Mississippi State owes a profound debt of gratitude," Ashford said.

"Already we have raised more in private support for our university than any such effort in the history of higher education in Mississippi. But we have the potential to do much more. The campaign to date has given us a glimpse of the depth and scope of affection and support for Mississippi State that is to be found across the state and throughout the country. What we have seen and heard from hundreds of supporters gives confidence that we will be able reach the next level and attain the new goal of $110 million before this campaign is through.

The Joe Frank Sanderson Center will be made possible in large part by a gift to The Campaign for Mississippi State. It one day will provide students and faculty for the first time with a much-needed indoor recreation center.

"I believe that all alumni owe it to themselves and to future generations to stop at some point in their lives and take stock of what they have achieved, and think about what part the university has played in their success. And then, when people realize, as I believe they will, how much the university has meant to them, they should consider giving back something so that others down the road will have the same sort of opportunity."

The campaign already is helping Mississippi State to expand scholarship and financial aid offerings, with more than $18 million of the total commitments targeted for that purpose. Thousands of students will benefit directly for years to come.

Already, for example, engineering students have received scholarships resulting from a cash gift by Mississippi Power Company, and the first Stanley M. Rundel Memorial Scholarship, honoring a former professor, will be awarded this fall in the Department of Physics and Astronomy. Also awarded for the first time this year will be the Harold Smith-Baldwin Piano & Organ Company Scholarship for an industrial technology student in the College of Education. And 14 students in various disciplines from archaeology and biology to art and English received financial assistance in support of academic projects through the Anna McLean Undergraduate Awards established last year.

Campaign commitments by type Total to date: $82 million

A variety of educational programs are being enhanced, with more than $31 million of total commitments designated by the donors for such needs.

The College of Business and Industry, for example, has received gifts to expand its electronic classroom and upgrade the computer lab for accountancy students. Civil engineering laboratories are being improved with a gift already received from the Kelly Gene Cook Sr. Charitable Foundation. The fifth-year program of the School of Architecture in Jackson is occupying a new home in the landmark turn-of-the-century Elks Club building, furnished and equipped through campaign contributions.

Brick and mortar projects will be among the most visible products of the campaign, with about $17 million committed for that purpose. Among the building projects receiving major boosts from campaign contributions:

• The John H. Bryan Athletic Administration Building is under construction, thanks in large part to contributions from family members of the late West Point businessman and founder of Bryan Foods.
• The Joe Frank Sanderson Center, a $19 million indoor recreation facility, is on the drawing boards. A substantial portion of the cost will be covered by a gift from Laurel alumnus Joe Frank Sanderson Sr., which also was helpful in securing additional funding from the state Legislature.
• The historic university cafeteria, now Perry Hall, will be renovated and preserved thanks to a gift from Mrs. Jane Perry in honor of her late husband, alumnus George D. Perry.
• A new chemical engineering building will be constructed near the central campus with the aid of a $7 million commitment from alumnus Dave C. Swalm. Additional funding will be requested from state sources.

Among the contributors to the campaign so far are several hundred staff and faculty members whose gifts and pledges totaled almost $700,000 by the end of the fiscal year. That total continues to rise.

The John H. Bryan Sr. Athletic Administration Building is being constructed adjacent to Chadwick Lake, just across the street from Dudy Noble Field and Humphrey Coliseum, with the aid of campaign contributions.

Much of the impact of the campaign lies in the future, says Dr. Billy Ward, vice president for institutional advancement. "Private support of the university is at all all-time high, and obviously one big reason for that is The Campaign for Mississippi State, which has been wonderfully successful to this point," he said.

During 1993-94, the university's total of cash contributions received was by far the largest amount ever in a single year, and most of that was attributable to the campaign. The bulk of campaign commitments, however, are in pledges payable over a five-year period from the date of the commitment, and in deferred gifts that will be realized at some indefinite time in the future, usually at the death of the donor.

Also, a large portion of the commitments to the campaign so far, as expected, have taken the form of endowed gifts. Endowed funds provide a permanent source of income for the designated purpose.

The immediate effect of an endowed gift is not as dramatic as that of a donation which is to be spent upon receipt, but its benefits are long lasting.

"An endowed gift is a gift to the future," Ward says. "Its impact on the university grows stronger over time, and will be felt for decades or generations to come."

Perry Hall is the new name of Mississippi State's historic cafeteria, which will be preserved and renovated with the aid of a gift from Mrs. Jane Perry in honor of her late husband, former Alumni Association President George D. Perry.

Current policy of the Mississippi State University Foundation, which administers endowed funds, is to limit spending to 5 percent of the endowment each year. With a total return on investment of 9 percent a year, for example, 5 percent would be spent and 4 percent would be reinvested. An endowed gift of $1 million, therefore, could be viewed as a $50,000-a-year source of income. That is the initial spendable revenue on a $1 million fund at the current spending rate of 5 percent. The annual expendable amount should increase each year and keep pace with inflation as a portion of endowment earnings are reinvested.

As of June 30, 1994, the total university endowment stood at about $70 million. That total is projected to grow to more than $100 million by the end of The Campaign for Mississippi State.