CAMPAIGN REPORT 2016
Anjali Agarwalla ’16
“ This is the college that was launched by a small group of smart, struggling women in 1889. The college that decided to retain its autonomy in 1982, and one that has joyously and resolutely carved its own path ever since. We are, and have always been, bold.� — Debora L. Spar, President, Barnard College
A Letter From The President
W H E N C O N S I D E R I N G B A R N A R D —its history, students,
alumnae—“bold” is an inescapable descriptor. It is a powerful word. And a wholly accurate one. Barnard women are many things: researchers, builders, corporate leaders, community activists, creators of art and causers of trouble. What ties our disparate qualities and behaviors together, though, and connects generations of Barnard students and alumnae, is a certain audacity of spirit. A willingness to speak up and find a different voice. A propensity to engage in activism, adventure, and whatever ails the world around us. A penchant, as Anna Quindlen ’74 poignantly put it, for “majoring in unafraid.” With The Bold Standard / A Campaign for Barnard, we are taking this audacity to new and different heights, adding “financially bold” to our arsenal of hallmarks. If Barnard is to prosper in the future as it has over the last 127 years—if, to be justifiably audacious, we aim to get stronger and stronger over time—we need to build an appropriate financial foundation. Thus The Bold Standard aims to raise an ambitious $400 million for three critical areas: - Building our endowment to support a robust financial aid program, our acclaimed faculty, and our renowned academic programs - Reinvesting in our campus by constructing a new teaching and learning center - Strengthening and expanding annual giving from a broad and steadily growing base of alumnae, parents, and friends, to benefit every aspect of the Barnard experience I am proud to say that we have raised $268 million to date. This report will provide you with a look at what brought us to this point as well as what remains to be done to achieve our goal. I hope that you will join us. Giving to The Bold Standard means taking a stand for women, for opportunity, and for the power of education to change lives. It’s the right thing—the bold thing—to do.
Debora L. Spar, President, Barnard College 1
As of June 30, 2016
— Campaign Progress
Campaign Goal $400 Million $268 Million 67% Raised
The Bold Standard / A Campaign for Barnard is an ambitious $400 million fundraising initiative that will be invested solely in the excellence of our faculty, the brilliance of our students, and the quality of the physical environment in which they teach and learn. For all who take pride in the education they, their daughters, or other family members received, this is the moment to invest in Barnard and to strengthen the College for the students of today and tomorrow. Every gift to the College is a gift to the Campaign.
Endowment
Annual Giving
Goal $175 Million
Goal $75 Million
$62.6M Raised
$57.6M Raised
36% Raised 77% Raised
Planned Giving Goal $50 Million $38.4M Raised
Teaching and Learning Center Goal $100 Million $98M Raised
77% Raised Totals do not include gifts yet to be designated. 2
98% Raised
Message From The Vice President for Development
A S P R O F E S S I O N A L F U N D R A I S E R S , my colleagues and I in Barnard’s Office of Development spend a lot of time asking what success looks like. The answer, of course, includes our financial goals—and we are extremely pleased to share good news about The Bold Standard / A Campaign for Barnard in this report. But, more importantly, success is defined by what contributions to the College make possible. So when we really want to understand the importance and impact of our capital campaign, we lift our heads from our charts, graphs, data, and reports and take a walk around campus.
Within moments we see an inclusive community of driven, fiercely intellectual thinkers, teachers, and learners who have come together from myriad backgrounds to share in the rigors of a Barnard education. We see a women’s college as relevant as ever—to the Columbia University community, to New York City, and to global society. And we see a small but beautiful campus, currently being enhanced by a brand new building that will soon be a hub of innovative academic activity. Indeed, a short stroll from 116th to 120th shows us the fruits of our labors and inspires us to work harder, better, and smarter every day to propel the College forward. We also are fortunate to spend much of our time saying thank you. It is wonderful to have this space to express Barnard’s gratitude to you—the thousands of enthusiastic alumnae, parents, and friends who give generously and have taken The Bold Standard so far down its path. Thank you for everything you do to make Barnard the premier institution that it is, always has been, and of course will continue to be. I look forward to sharing The Bold Standard’s progress during the coming months and hopefully to seeing you at a Barnard event soon.
Bret Silver, Vice President for Development
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Impact of Philanthropy
— A Look at the Numbers
Throughout the Campaign, donors have made bold and meaningful gifts that will help transform the Barnard of today and tomorrow. Leadership gifts to The Bold Standard Campaign From the start of the Campaign through June 30, 2016
$25,000,000 > 2 Gifts $20,000,000 > 1 $15,000,000 > 1 $5,000,000 > 4 $2,500,000 > 13 $1,000,000 > 30 $500,000 > 20 $250,000 > 33 $100,000 > 99 Below $100,000 > Thousands
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Impact of Philanthropy
— Leading the Way
The College received the largest gifts in its history— totaling $70 million—from three loyal Barnard families. Cheryl and Philip Milstein’s $25 million gift for the new teaching and learning center is their largest to Barnard. Cheryl Glicker Milstein ’82, who serves as co-vice chair of Barnard’s board of trustees, says “Two generations of our family—including our daughter Toby Milstein ’14—have benefited enormously from Barnard, so Philip and I wanted to be part of this singular opportunity to ensure that its physical campus matched the learning needs of the thousands of future women leaders who will walk through Barnard’s historic gates.” The $25 million gift from The Tow Foundation on behalf of Leonard Tow and daughter Emily Tow Jackson ’88 is also the family’s first of this magnitude to Barnard and one they hope will inspire others. Emily serves as a Barnard trustee and leads the Foundation, which has funded a number of the College’s important faculty and student programs. She says of the Campaign, “Despite being the most selective women’s college in the country, Barnard hasn’t necessarily been as bold in asking for financial support. This is Barnard’s moment to dream big, to say ‘What if?’ and think beyond the way it’s always been.”
For Diana ’55 and Roy Vagelos, Barnard has always been one of their top giving priorities. When they learned that the College was embarking on the most ambitious fundraising campaign in its history, they were inspired to make an additional leadership gift: $20 million for the teaching and learning center’s computational science center, as well as a chair in the Department of Chemistry. Says Diana, “At Barnard in the 1950s, I was a scholarship student encouraged to study the exciting and challenging field of economics. It is especially satisfying for us at this time to be helping Barnard students enter the age of “Big Data” where the potential benefits will come from computational analyses in such disparate areas as human health and climate change.”
Above, From Left — Emily Tow Jackson & Leonard Tow, Roy & Diana Vagelos, Philip & Cheryl Milstein
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Impact of Philanthropy
— Distinguished Artist-in-Residence Established at Barnard
The fund supports a newly created chair that will be awarded on a rotating basis to a prominent artist. Dr. Lida Orzeck ’68, co-founder of successful lingerie company Hanky Panky, has been involved with Barnard in a variety of ways throughout her life. Today, she is one of the College’s most loyal supporters.
The inaugural Artist-in-Residence is worldrenowned ballerina Wendy Whelan, who led a variety of artistic and academic activities as a part of Barnard’s Department of Dance during the 2015 – 2016 academic year.
Last year, Lida presented Barnard with a gift of $2.5 million to endow The Lida Orzeck ’68 Distinguished Artist-in-Residence Fund. The fund supports a newly created chair that will be awarded on a rotating basis to a prominent artist working in visual arts, theater, architecture, music, and/or dance.
Says Orzeck, “I’ve got the coolest chair. Although I was a psychology major, my interests are much more eclectic. When I heard Wendy Whelan would be the first Artist-in-Residence, I was falling off my own chair I was so excited—I realized what a huge appointment that was. This was practically a household name within certain circles, and a tremendous draw for Barnard and anyone interested in the College’s dance program.”
The endowed professorship appealed to Lida for several reasons, including the fresh mode of instruction it invites. Artists, she notes, “are not necessarily people who teach or who are tutored in teaching, or who come in with certain specific formats for imparting their gifts and their knowledge. This is not a note-taking setting, not a classroom. Students are getting exposed to different ways of imparting and receiving information.”
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Above — Lida Orzeck and Artist-in-Residence Wendy Whelan
Impact of Philanthropy
— A Lifetime of Giving
Hilma Ollila Carter’s family instilled in her the importance of being a thoughtful, helpful, active participant in the world around her. It is no surprise, then, that from age three she felt her calling was to teach. Her Barnard education laid the groundwork and opened many doors that led to a fulfilling career as a Spanish teacher. The richness and rigor of her Barnard education are the qualities she wants to sustain and cultivate for the generations who follow her through Barnard’s gates. Hilma also understands how important access to a Barnard education is and what it can mean for young women who have the intellectual curiosity and passion for learning and sharing knowledge that she did—and still does. In her early days as a teacher, she started by giving small donations to support her alma mater. As she could, she gave more, and ultimately created the Hilma Ollila Carter ’45 and Benny Carter Scholarship Fund, also honoring the memory of her late husband.
Hilma has chosen to make Barnard a giving priority because she knows that the College’s tradition of excellence is strong and only growing stronger. Over the years, Hilma has found a variety of ways to weave her devotion to Barnard into her personal financial planning. As part of The Bold Standard, she set up a charitable remainder trust, which she sees as a beneficial and reassuring way to help diversify and consolidate her own resources. She has also made Barnard the primary beneficiary under her will and living trust. A profoundly thoughtful planner who is always considering others, Hilma has chosen to make Barnard a giving priority because she knows that the College’s tradition of excellence is strong and only growing stronger. Her commitment is helping to make this possible.
Above — Hilma Carter and scholarship recipient Esther Kang ’18
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Impact of Philanthropy
— Investing in Students
Lois Champy ’67 has always believed in the value of a Barnard education. During her time as a student, she took advantage of all the resources New York City has to offer and felt that the borders of campus extended past Broadway and throughout the five boroughs. Lois believes her Barnard education prepared her well for her graduate courses at MIT en route to her career as an architect, and cherishes the strong bond she still feels when meeting other Barnard graduates.
If we want Barnard to continue its needblind admission practice, we need to support worthy students now more than ever.
Today, Lois gives back to the College through service as a trustee and the Lois Golden Champy ’67 and James Champy Scholarship Fund. She and “If we want Barnard to continue its need-blind admission practice, we need to support worthy her husband Jim each fund a scholarship at their students now more than ever,” says Champy. respective alma maters, and feel strongly about “I think there is a time when all of us start to keeping Barnard accessible to all. They started their scholarship fund nearly 25 years ago and have give back and prioritize our philanthropic goals. Education has always been the number one thing continued to contribute to it ever since. As part for Jim and me, since it is the simplest way to of The Bold Standard, they chose to add to their fund once again with a very generous commitment fund all the other things we care about such as the future of the environment, healthcare, so that their scholarship could have an even and social justice. By giving to Barnard, we give greater impact. to all these fields.” Above — Lois and Jim Champy 8
Impact of Philanthropy
— Strengthening the Sciences at Barnard
An outpouring of support during the Campaign has enabled Barnard to develop extensive new science programs, bolstering the College’s already strong reputation as an outstanding institution for undergraduate women interested in pursuing these fields. Grants from several major foundations have helped Barnard launch the new Summer Research Institute (SRI), a 10-week faculty-student summer research program. Through close work with faculty mentors, students in the SRI gain deeper insight into the scientific process, hone critical lab skills, and develop their personal and professional networks. In 2015, Barnard received the highly prestigious Beckman Scholars Award from The Arnold and Mabel Beckman Foundation—the first time the College has received this honor. The grant offers four of Barnard’s top science students ongoing mentorship and training opportunities with Barnard’s science faculty, participation in the SRI, and trips to conferences. A substantial grant from the Henry Luce Foundation is enabling eight Barnard students to pursue data-driven scientific research as recipients of Clare Boothe Luce Undergraduate Research Awards. Funding for the SRI also comes
from important new endowments including The Mellon Fund for Enhancing the Sciences at Barnard (established by The Andrew W. Mellon Foundation in 2014) and another established by an anonymous donor. Barnard has also received two major grants from an anonymous foundation: a three-year grant to support compensation for students participating in the SRI and a grant to launch the Science Pathways Scholars Program, a highly selective, four-year program designed to support talented young women from underrepresented backgrounds, including first-generation students, who have a strong interest in the sciences. Support from these generous institutions continues to make a significant impact on Barnard students, who often refer back to their first research experiences as the transformative events that led them to scientific careers.
Above — Haley Fica ’17 presents her research at the Summer Research Institute 9
Financial Aid
— Make Success Accessible
We have set an ambitious $100 million goal for endowed financial aid in order to maintain our levels of support to all deserving students.
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Financial Aid
Rob Goldberg, Chief Operating Officer
As Barnard’s Chief Operating Officer, I am always looking at the “big picture.”
Providing financial support on a “need-blind” basis is one of Barnard’s core values. We want the best students at Barnard—financial circumstances should never be a barrier when qualified young women seek an education here. Our challenge is to figure out a way to maintain that commitment and protect the College’s long-term financial health. Right now, Barnard provides financial aid to about 1,000 students each year, with an average grant of nearly $40,000. This is an extraordinary commitment, and it is worth every penny. However, $40 million is a great deal of money—in fact, the financial aid budget is almost a quarter of our operating budget and has been for years. While Barnard does have a pool of designated endowment funds for financial aid, it only typically yields about $6 million annually. Having to fund $34 million from the operating budget forces the College to make difficult trade-offs.
Gifts to increase our financial aid endowment are immensely important. It is my responsibility to consider how Barnard will maintain its fiscal well-being far into the future. We’ve done all that we can to keep expenses down, but the reality is that to deliver on our mission is expensive. Raising more endowed funds for financial aid will reduce annual operating budgets’ reliance on tuition. To me, the single most critical thing we can do is raise money. An expanded financial aid endowment will allow us to put a higher percentage of our operating budget into other projects and programs that the College seeks to expand and develop. And, most importantly, it will help us maintain Barnard’s longstanding commitment to need-blind admissions—a value that continues to make the College extraordinary for every student.
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Financial Aid
Nanette DiLauro, Director of Financial Aid
As the Director of Financial Aid, I see the tremendous impact of Barnard’s need-blind admission policy year after year.
Barnard typically receives over 7,000 applications for each entering class—more than 10 applicants for every spot. This represents an enormous pool of brilliant, highly qualified students. Our need-blind policy means that each application is reviewed without considering a student’s financial profile. With admission comes Barnard’s promise to meet each student’s demonstrated financial need. Today, four out of 10 of our admitted students receive financial aid in some form. Each entering student’s need is carefully assessed through my office following a standard formula. We then offer a package of support that requires a specific parental contribution plus what we call “self-help”—typically a combination of a loan and student earnings. Support is provided to families who have virtually no assets and to families who have some assets but who are struggling to meet their obligations— families with multiple children in college or who are covering the expenses of an ailing relative, for example. We look at a huge range of factors and offer as much as possible. As a result, Barnard women graduate with an average student loan burden well below the national average.
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The undeniable truth is that for many families college is costly and difficult to afford. We have seen the financial aid needs of Barnard students increase at a tremendous rate. The average grant from the College has grown by over 40% since 2008, which translates to an additional $10,000 or more per student. I’ve been at Barnard since 2008 and know that the College’s commitment to remaining need-blind has stood the test of time. However, the reality is clear: this commitment costs a tremendous amount of money. Adding $100 million to the endowment for financial aid will help ensure that Barnard can continue to attract and support students of all economic backgrounds.
Financial Aid
Avis Hinkson ’84, Dean of the College
As a Barnard graduate, I am deeply proud that the College has long embodied a fundamental principle: access to education.
In my role as the Dean of the College, I know firsthand that Barnard is increasingly out of reach for many college-bound young women. As one of the country’s top institutions—one with a firm dedication to need-blind admissions— Barnard is able to offer enrollment to students with astonishing diversity in many respects: they hail from myriad states and countries, attend public and private high schools, possess varied academic interests, and—perhaps most importantly—have a wide range of cultural, racial, and socioeconomic backgrounds. Barnard students thrive in this diversity. They learn from one another as roommates and classmates, learning and developing side by side. But, right or wrong, the fact remains that the cost of college is often a driving factor in how students select their undergraduate college.
Barnard offers enrollment to students with a wide range of cultural, racial, and socioeconomic backgrounds. I came from a family that believed strongly in education, but one that could not afford to send me to Barnard on their own. For me, receiving financial aid made all the difference. While my family was more than willing to do their part, they needed assistance to make it possible for me to graduate from college. When I look back over the 30-plus years since I graduated, and the doors that a Barnard degree have opened for me and for so many others, I know that financial aid can—and does—change the trajectory of lives.
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Financial Aid
Maeve Duffy ’17
Maeve is majoring in theatre and minoring in chemistry
“When you benefit from a fund set up by alumnae who came before you, you gain a sense of connection to prior generations of Barnard women—a sense that you are now part of a meaningful legacy at an institution that has taught us each so much.”
Terry Newman ’79 “Both of my grandmothers were incredibly smart women who valued women’s education, but neither had the opportunity to graduate from high school. That’s why I endowed a scholarship in their names—so that young women can be given the opportunity to continue their higher education.”
Terry is President of the Alumnae Association of Barnard College
Jareline Maxiel Guerrero ’15
Jareline is currently working with Uncommon Schools as a teacher 14
“My acceptance to Barnard is one of the proudest moments of my life, and I think intelligent, hopeful, hard-working women who did not choose their economic status deserve to feel that kind of validation.”
Financial Aid
— Fund the Future
Keeping the Barnard experience accessible to all students depends on strong financial aid powered by a growing endowment. And a healthy endowment depends on donors like you.
How You Can Help E ND O W A S C H OL A R S HIP
S UP P OR T A B A RN A RD C OL L E GE S C H OL A R
Ensure that funds are available in perpetuity to help Barnard students afford tuition costs by endowing a scholarship in your name or to commemorate or honor a graduating daughter, family member, or other important individual.
Make a gift of $10,000 or more and provide a one-year scholarship for a student selected by the College. M A KE A NN U A L GIF T S T O B A RN A RD
Meet a critical need by designating your annual gift for financial aid.
To learn more, visit theboldstandard.barnard.edu 15
Planned Giving
— Thoughtful Planning with Far-Reaching Impact
Planned gifts have been a significant source of support throughout our history. Expanding this tradition of remembrance strengthens Barnard’s financial future and sustains its hallmark academic excellence. Planned gifts offer a wide array of attractive features for donors who want to make the most of their resources. Alumnae and friends can take advantage of tax benefits and flexible support opportunities, aligning their gifts with their financial and philanthropic goals. Many planned gifts are eligible to be counted in The Bold Standard as well as in reunion giving totals. To date, planned gifts amount to over $38 million of the Campaign effort.
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Planned Giving
Judith Daynard Boies ’59 “I decided to include Barnard in my estate plan because I believe strongly in the College, and because doing so enables me to make a far more significant gift than I could comfortably give now. I take great pride in the role my gift will play in the future, helping sustain the standard of excellence that a Barnard education exemplifies.”
Judith is the Planned Giving Chair for The Bold Standard and a member of The Athena Society
Dorothy Chen-Courtin ’66 “A generous donor made my four transformative years at Barnard possible. I was a foreign student from ‘far-away’ China via Malaysia on a Barnard scholarship. Including the College in my estate plan is my way to thank that anonymous donor, as it is now my turn—no, my privilege—to help support the next generation of students.”
Dorothy is a member of The Athena Society
The Bold Impact Challenge Thanks to a generous estate gift, we have established The Bold Impact Challenge to encourage even more alumnae and friends to include Barnard in their long-term plans.
– Name Barnard in your will or trust, as a beneficiary of your retirement plan, or set up another type of planned gift – Notify Barnard of your plans – A contribution equal to 10% of your planned gift (up to $100,000) will be made in your name now to The Bold Impact Scholarship Fund, supporting current Barnard students
The Bold Impact Scholarship Fund will be a separate named fund designated for the support of students who are able to attend Barnard only with the help of financial aid. Barnard will select the students who will benefit from the Scholarship Fund each year, and all donors participating in the Challenge will receive annual updates about the scholarship recipients. To learn more, visit theboldstandard.barnard.edu/boldimpactchallenge 17
Annual Giving
— All. Together. Now.
Throughout the Campaign, we will call on every member of the Barnard community to make the College an annual giving priority. Every annual gift to Barnard will be a gift to The Bold Standard. Since tuition covers only a portion of the true cost of a Barnard education, annual gifts provide critical funding for all the programs, activities, and services that enhance life at the College. Annual support impacts every aspect of our campus and the student experience, every day. It bolsters what is important about Barnard in areas including financial aid, student travel and internships, scholarly research, faculty-student research collaborations, career development programs, and a vibrant campus life.
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Annual Giving
Linda Sweet ’63
Linda is an Alumna Trustee
“Barnard does so much with so little money, and needs so much more. It’s impossible for me to choose students over faculty over a new building over infrastructure. That’s why I give to the annual fund. I let Barnard choose where it needs my money most.”
Jyoti Menon ’01 “I believe in giving back to Barnard because Barnard gave me so much. I want to support an institution that gives us future women leaders who I know will pay it forward.” Jyoti is the Co-Chair of the Athena Center for Leadership Studies Council and a former Alumna Trustee
How You Can Help S UP P OR T E VE RY A S P E C T OF C A MP U S L IF E
S UP P OR T P RO GR A M S A ND P RI ORI T IE S
Annual gifts have immediate impact. Allow us to direct your gift where it is needed most.
Direct your annual gift to one of the Campaign’s priorities: financial aid, faculty support, or campus renewal.
F UND A B A RN A RD C OL L E GE S C H OL A R
Make a gift of $10,000 or more and provide a one-year scholarship for a student selected by the College.
To learn more, visit theboldstandard.barnard.edu 19
Teaching and Learning Center
— Raising Academics to New Heights
In 2018, Barnard will open its new teaching and learning center — an academic hub that will provide a diverse range of innovative, essential resources for students and faculty. It will include an expanded library and archives, conference center, computational science center, faculty offices, a variety of study areas, and a digital commons — five innovative teaching labs that will utilize new media and digital technologies.
Giving Opportunities Naming opportunities within the new building are still available at all levels, including:
- Seminar Classrooms: $1,000,000 - Outdoor Terraces: $500,000 - Group Study Rooms: $50,000 – $200,000 - Individual Study Carrels: $25,000 - Computer Workstations: $25,000
To learn more, visit theboldstandard.barnard.edu 21
Teaching and Learning Center
Designed by the award-winning firm Skidmore, Owings & Merrill, the building will offer multi-functional spaces including high-tech classrooms.
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Office of Development B A R N A R D C O L L E G E Columbia University 3009 Broadway New York, NY 10027