Chris Wood

Chris Wood

By Danae’ Carter, The Whetstone

Compared to the University of Delaware and even nearby Delaware State University, Wesley’s endowment is barely on the radar.

Endowment funds are long-term investments that can be scholarships or other gifts.

As the donations are invested, Wesley spends the interest money gained.

Chris Wood, vice president of institutional advancement, whose job it is to raise money for several funds, including the endowment, said Wesley’s endowment is at about $7 million.

“Ultimately, schools typically have funds ranging from $100- to $200 million dollars,” he said. “The endowment offers about 60 scholarships to be given to students attending the college.”

The University of Delaware reported an endowment of more than $1 billion in 2014. DSU’s endowment is more than $20 million.

“Wesley is a much smaller school, so the additional funding is not available, but the alumni department focuses on raising money to increase Wesley’s funding through donations each year,” Wood said.

Institutional Advancement Office

Institutional Advancement Office

A few ways Wood’s office raises funding is through electronic solicitation to alumni, direct mail, and a phone-a-thon, he said.

“There is a small team that participates in the phone-a-thon,” Wood said. “They make about two to three thousand calls to previous givers over a total of fifteen thousand alumni.”

The department’s fund-raising is measured each fiscal year, which starts in July and ends in June.

“About 15 percent of donations are from alumni donating directly to the endowment,” Wood said. “Any amount is accepted, but there is a minimum requirement of $10,000 for endowment donations.”

Wood’s department of institutional advancement raised $2.78 million in grants for the college, including $400,000 from alumni.

When it came to honoring former president Johnston, many donors helped out.

“There were about 50-60 gifts received total,” Wood said. “In the end, 1 million dollars was raised for Wesley in honor of him.”

Sophomore Quadira Minus said she would have liked that money to have been put toward more student scholarships.

“How about raising money for the students struggling to continue their education here?” she asked. “That would be a good idea to get donors involved in.”

Junior Dieunise Desir said she believes Wesley has the resources to obtain more for scholarships for students.

“Sixty scholarships for all the students that go here doesn’t make sense at all,” she said. “Wesley brings in almost $40,000 per student, I think the funding just isn’t being put to use like it can be.”