I want to share with the rest of campus that, starting with this new fiscal year, the Ithaca Fund will be renamed the Ithaca College Annual Fund or, as you will often see it, the IC Annual Fund.
Our goal is to build the broadest possible base of regular, consistent supporters that give to the greatest needs at Ithaca College. The IC Annual Fund is the vehicle through which the majority of our donors support the College -- so the case for annual support needs to be strong, consistent, and clear. Moving forward, we want to firmly establish the IC Annual Fund as the brand for unrestricted annual gifts to the college and use this term in place of the word "unrestricted."
These donors form the foundation of any fund-raising program and are essential to developing our overall donor participation rates. These gifts should also provide the discretionary dollars that will be essential for implementing core aspects of the IC 20/20 strategic plan in the years ahead.
Our intention is to grow the IC Annual Fund to significantly increase the operating revenue available to support the budget as well as special new initiatives. The impact of these gifts can be dramatic. For example, a $1 million annual fund has the same purchasing power as a $25 million endowment. It is our hope to reach the $1 million mark by fiscal year 2014 and develop a plan for further growth after that.
The communications, advancement services, and IC Annual Fund teams within Institutional Advancement are all working on the branding, messaging, and reporting as they impact the program in the months ahead. I am confident that, with our collective focus, we will be able to provide a significant resource for Ithaca College’s future.
Vice President, Institutional Advancement