Dear Alumni and Friends:
I'd like to thank you, on behalf of the Foundation, for your extraordinary support of The Citadel in 2005. Through the generosity of the many donors and friends listed within the pages on this site, The Citadel Foundation has continued to make great strides towards its vision while continuing to lay the groundwork for the successful public launch of the Campaign for The Citadel in March 2006.
I am proud to report that 2005 ranked among the best fundraising years in the Foundation's history. During this period, we secured cash, pledges, and planned gift commitments totaling $16,341,495 toward the $100 million campaign goal.
Perhaps most worthy of note, in 2005 The Citadel Foundation transferred an endowment grant totaling $6,178,742 to The Citadel, in addition to over $4 million in other gifts and grants to the college.
To put this philanthropic support exceeding $10 million in the proper context, consider that The Citadel received a total of $14.8 million in South Carolina state appropriations toward its fiscal year 2005 operating expenses of $71 million. The day is not far off that contributed support and endowment returns will outpace state assistance in underwriting the daily operations of the college. Such a solid financial footing is precisely the foundation The Citadel needs to secure its continued success well into the 21st century.
As you locate the names of donor and classmates listed within this site, you will also note that the Foundation has advanced another step into the digital age. As promised in the 2004 print publication, we have successfully migrated to the web our annual honor roll listing The Citadel's many generous donors. In place of a printed report that it is virtually outdated by the time of publication, all Citadel alumni, donors, and friends will now have convenient and lasting access to financial information and the Honor Roll of Donors online at www.citadel.edu/tcf.
This form of reporting offers numerous advantages, including increased accessibility, an essentially infinite capacity for content, and fully searchable text. The transition from print to the web also enables the Foundation to publish a diverse array of information in a more accurate and far more timely fashion than in previous years. In fact, we aim to have the 2006 Honor Roll of Donors posted in the early spring of 2007, as quickly as possible after year-end gifts are tabulated and our financial statements are audited.
Additionally, this move permits the Foundation to produce more frequent and more focused print newsletters and periodic reports to keep you better informed of the ongoing progress of the capital campaign.
But ultimately, and perhaps most importantly, the resulting reduction in publication costs will enable us to serve as better stewards of your contributed dollars, allowing more funds to flow directly to the intended recipients, The Citadel and the Corps of Cadets.
On behalf of the many cadets and graduate students who benefit each year from the generosity of the college's alumni and friends, it gives me great pleasure to thank you and all of the donors whose names are listed here. Your contributions truly enable The Citadel to equip tomorrow's principled leaders for a lifetime of selfless service.
Sincerely,
Dennis P. Bergvall
Executive Director
