By Greg Forester, Staff Writer
Princeton University probably won’t meet the goal for its 2009 Annual Giving fundraising campaign, school officials said Tuesday.
The school had announced a goal of $56 million for this year’s effort, to conclude on June 30, with the money earmarked for instruction, research, and student activities, among other programs. As of Friday — roughly three months until the end date — the campaign had more than halfway to go, having received approximately $20.5 million.
Justin Harmon, the assistant vice president for development relations, said the numbers were a function of the current economy and its impact on alumni who make especially large donations, sometimes in excess of $500,000, on occasions like class reunion years.
”In these difficult financial times individual alumni have fewer dollars to contribute,” Mr. Harmon said.
Last year’s Annual Giving campaign raised $54.1 million from donors.
School officials said recent alumni who usually make smaller donations were participating in the program despite the economy.
Of the three most recent graduating classes, 36.9 percent of the Class of 2006, 45.2 percent of the Class of 2007, and 40 percent of the Class of 2008 have contributed to this year’s campaign.
Overall, 29.3 percent of Princeton alumni have made a donation, compared with a rate of 31.6 percent in March of 2008.