As the University of Kentucky and other educational institutions have experienced
reductions in state funding during the past decade, philanthropy has played an increasingly important role in supporting a sizable chunk of the capital investments and academic initiatives on UK’s campus.
In the past fiscal year alone, the number of donations given to the University of Kentucky topped 100,000 for the first time, with 101,277 gifts received from 54,275 separate donors. It was also a record year for UK in terms of gift receipts, which totaled $118.2 million, and new commitments received, which topped $168.3 million. UK’s two largest gifts, which came last year from UK alumni and philanthropists Bill Gatton and Tom Lewis, amounted to almost $44 million.
In recognition of this growing reliance on philanthropic giving, the university’s chief fundraising arm, formerly known as the Office of Development, has now officially changed its name to the Office of Philanthropy, making it possibly the first to bear that moniker among the country’s major public research institutions.
“Philanthropy is assuming a greater leadership role at the University of Kentucky as it has played a significant part historically funding the Markey Cancer Center and more recently the Gatton College of Business Building, Student Center, Academic Science Building, the future Lewis Honors College and many more capital projects and academic programs, and will provide noteworthy and measurable resources toward funding UK’s recently approved Strategic Plan,” said UK President Eli Capilouto. “In light of this enhanced role, UK’s philanthropy program is evolving as a voice of philanthropy for the university, our community and the commonwealth of Kentucky.”
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D. Michael Richey, UK vice president for philanthropy
D. Michael Richey, UK vice president for philanthropy
The name change means more than simply new words on the letterhead, said D. Michael Richey, UK vice president for philanthropy and chief philanthropy officer. First and foremost, it better reflects the department’s focus on not simply gathering dollars for university initiatives but serving the altruistic interests and intents of today’s philanthropic investors, Richey said.
“Philanthropy means the highest level of giving and engagement and volunteerism,” said D. Michael Richey. “We think it better embodies who we are and what we do. ... It defines the way we want to do development, which is very donor-centered and principle-driven and takes care of the philanthropic aspirations and goals of the individual, not just raising funds for the university.”
The name change also strengthens the department’s efforts to create what Richey calls a “culture of philanthropy” both on and beyond the university’s campus, he said.
Richey said the philanthropy focus will help the department to engage with the roughly 500 student organizations on campus in their own philanthropic efforts and to assist students, parents and other community members in finding their own ways to give back.
The department will also look to be a resource for other nonprofits in the community that may be looking for help or advice with their own fundraising efforts, Richey said. In September, the department hosted 100 attendees of the Bluegrass Chapter of the Association of Fundraising Professionals for a conference at the university’s Hilary J. Boone Center centered on philanthropy and charitable giving.
“Most major donors will have multiple interests, not just one,” Richey said. “I believe that we need to help encourage philanthropy throughout the state and be a resource for that to be done.”
The formal announcement of the department’s name change came on Nov. 11, in conjunction with the celebration of National Philanthropy Week. Guest speaker Karl Zinsmeister, vice president of the Philanthropy Roundtable in Washington, D.C., and the featured speaker at the event, discussed the pivotal role of philanthropy throughout American history, noting that the nonprofit sector encompassed 11 percent of the nation’s workforce and roughly 6 percent of its GDP in 2015.
“I’m so happy that folks here at UK have recognized the size and importance of [philanthropy’s] role, because the reality is that a lot of academics and a lot of journalists and a lot of the public at large really haven’t kept up with this rising force,” Zinsmeister noted during his presentation. “Voluntary giving is not just a sideline. It is not just a cute hobby. It is right at the center of our country’s success.”