Date: June 28, 2024
Today is Friday, June 28. We are just two days away from the end of our fiscal year. The Annual Fund closes at midnight on June 30.
If you’ve already given to the Annual Fund, thank you! If you’ve not yet given but are planning to, please don’t hesitate. Make your gift now! It’s easy to do online.
If you, like some others, are wondering why Virginia Theological Seminary needs annual donations when we can provide such robust scholarship packages to our seminarians, I can explain.
Yes, VTS has an ongoing need for annual funding despite support from an endowment that funds tuition for seminarians. VTS is in a remarkable position to benefit from an endowment managed through the Lettie Pate Evans Foundation. We are fiscally responsible and operate under a four percent draw rate from the endowment based on the number of admitted full-time residential students. The scholarships cover tuition, on-campus housing, and meal plans; however, the funds do not cover all the needs required to support the seminarians. Their needs consistently exceed the available funding.
So, we always have a gap in the operating budget that the Annual Fund fills.
Our endowment provides stability; annual fund gifts are vital for covering some operational costs, supporting initiatives, and enhancing the student experience. Your contribution to the annual fund is not just a donation; it’s an investment. Your gift will help ensure that VTS continues to thrive and provide exceptional opportunities for our students, shaping the future lay and clergy leaders.
Please join me, Dean Markham, our board, and faculty in minding the Annual Fund gap this fiscal year. Gifts can be made online up to midnight on June 30. Checks postmarked June 30 count for this fiscal year no matter when they arrive at VTS.
Linda L. Dienno, MSc
Vice President for Institutional Advancement
P.S. I have thoroughly enjoyed writing this week’s Dean’s Commentary. Dean Markham offers us a gift by letting many of us contribute to his commentary over the summer. Please email me if anything I’ve written sparks an interest or raises a question. I’d love to chat.