Record-Breaking Philanthropy
A BOTTOMLESS CUP OF COMMUNITY
Setting a record for the University, we closed FY2023 with $273M in donations from our alumni and friends, a 12.3% increase over the prior year.
Much of that success can be credited to the University’s Strategic Plan, our road map for growth that articulates BU’s top priorities—from impactful research and vibrant academics to diversity efforts and global engagement.
“Donors have been inspired and encouraged by the plan and want to support our new initiatives,” says Senior Vice President for Development & Alumni Relations KAREN ENGELBOURG. “At the same time, we have maintained and even increased momentum around core priorities, such as undergraduate financial aid, faculty and research, and student life.”
We are engaging more alumni, parents, and friends in many more ways.
— Karen Engelbourg, Senior Vice President for Development & Alumni Relations
Our year of giving started off with a bang. The late philanthropist EDWARD AVEDISIAN (CFA’59,’61, Hon.’22) gave $100 million to benefit the University’s medical school—since renamed the Aram V. Chobanian & Edward Avedisian School of Medicine—with funds designated for research, endowed faculty chairs, and student scholarships. As part of his gift, the former professional clarinetist established two $1 million scholarships in music and the visual arts, one honoring Chobanian’s wife, Jasmine, and the other Avedisian’s wife, Pamela (Hon.’23). Recently, the College of Fine Arts received an additional $2 million from his estate for scholarships in performance. BU received 35 gifts of $1 million or more, including several eight-figure gifts from anonymous donors in support of key University initiatives last year, as well.
Donors flocked once again to the CENTURY CHALLENGE, the undergraduate scholarship program in which the University matches the scholarship awards distributed from new endowed scholarship funds for 100 years. The program is especially popular with those looking to make their first major gift, Engelbourg says.
It’s not just the dollar amounts that command attention—it’s the participation. Boston University’s ninth annual GIVING DAY brought in gifts from a record-breaking 12,000 donors from 48 countries and all 50 states, supporting more than 450 causes across campus. And our newest alums were fast out of the gates too—nearly 2,500 donors from the Class of 2023 contributed to their class gift.
“We are engaging more alumni, parents, and friends in many more ways,” Engelbourg says.
