 Development
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| For the third consecutive year, private giving to Johns Hopkins set a record, up almost 13% from the previous year. Gifts from private sources totaled $185 million, including cash receipts from new gifts and payments on pledges. The Fund for Johns Hopkins Medicine received more than half the total, $96 million, topping by more than 19% the record set last year for the Fund. Gifts from individuals accounted for $94 million; from foundations, $51 million; from corporations, $17 million; and from other organizations, $23 million. The Johns Hopkins Initiative surpassed its original $900 million goal in April, less than four years after its public announcement in October 1994. In May, the University Board of Trustees set an expanded goal of $1.2 billion for the campaign, to be completed in the year 2000. The top priority of the new goal is endowment for scholarships and fellowships to enable Hopkins to maintain its competitive position among international research universities. "Our tradition of academic excellence has always been coupled with a commitment to make a Hopkins education affordable for all qualified students," President William R. Brody said in announcing the expanded goal and new priority. "We must increase our endowment for student financial aid so that no student-graduate or undergraduate-will turn down an invitation to Johns Hopkins for lack of funds, and to ensure that our graduates are not burdened by unreasonable debt." Hopkins is also seeking major support for the University's libraries and will continue to seek gifts for facilities not yet completed. The Initiative is co-chaired by Lenox D. Baker Jr. and R. Champlin Sheridan, both trustees and alumni, who took over leadership from Michael R. Bloomberg two years ago on his appointment as chairman of the University Board of Trustees. As of June 30, campaign commitments-that is, both cash received and pledges of future gifts-totaled $954 million or 80% of the expanded goal. The total for endowment and facilities stood at $553 million, and $73 million had been committed for student aid. The fiscal year's largest commitments were from individuals and provided support for facilities. A significant number of donors made planned gifts. Hopkins continued to receive support from a broad mix of local, national, and international foundations. An earlier gift of $20 million from R. Champlin Sheridan and Debbie Sheridan for endowment and extensive improvements to the Milton S. Eisenhower Library included a $5 million challenge. During the year, the challenge attracted nearly $1.3 million in matching commitments, bringing the total of matching gifts to $4.4 million, 88% of the goal. Zanvyl Krieger's earlier $50 million challenge gift attracted $4.7 million in new commitments to the School of Arts and Sciences' endowment during fiscal 1998, bringing the total of matching gifts to $49 million, 98% of the goal. Nearly 54,000 alumni, parents, patients and other friends, and faculty and staff made annual contributions in fiscal 1998. This included nearly 18,000 alumni, an increase of more than 1,000 over the previous year. Many of the gifts were made in response to the Trustee Challenge, issued by members of the Board who pledged $1 million to match new and increased annual gifts in fiscal 1998. Gifts received during the year directly benefited teaching, research, student life, and patient care. In addition, these gifts helped to increase the financial stability and provide the flexibility the Johns Hopkins institutions need to ensure continued excellence and innovation.
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