Ohio Athletics has announced a major new fund-raising initiative, the Ohio Athletics Operational Endowment Campaign. With a $2.5 million goal, the initiative will build a foundation of endowment support that is more than 1,856 times the current level to ensure the Department of Intercollegiate Athletics' long-term financial strength.
In support of this campaign, Ohio Athletics already has raised $1.4 million.
"We are excited to announce four alumni leadership gifts," said Ohio Director of Athletics Kirby Hocutt. "It is especially thrilling to have the support of one of Ohio's most recognized honorary alumni, Dr. Vernon Alden. These important contributions from loyal Bobcats will assist us in 'securing the future of Ohio Athletics today' -- which is the theme of our campaign -- by assisting in strengthening our endowment."
Leading the way is a challenge gift made by Dr. Alden, president of Ohio University from 1962 to 1969. Dr. Alden's $600,000 gift -- the second largest cash gift in Ohio Athletics' history -- is contingent on the university securing $600,000 in new gift commitments for the campaign.
"While I was privileged to be at Ohio -- and ever since -- I have believed that we should strive for excellence in every activity of the university -- in academics as well as athletics," Dr. Alden said. "For this reason, I have made my contribution to the Athletic Endowment Program."
Prior to Dr. Alden making his gift, the university received three generous commitments of $250,000 each from Robert D. (BSME '67) and Margaret "Peggy" Walter (BFA '67) of Dublin, Ohio; Alan (AB '52) and Ruby Riedel (BSEd '53) of Houston, Texas; and an anonymous alumni donor.
These gifts continue the Walter and Riedel families' longtime associations with Ohio University. Margaret Walter served on The Ohio University Foundation Board of Trustees, and Robert Walter served on the university's Board of Trustees, including as chair from 2003 to 2005). Alan Riedel also served on The Ohio University Foundation Board of Trustees, including five years as chairman, and currently serves on the Ohio Bobcat Club Advisory Board.
"This incredible support illustrates the Bobcat pride that alumni and friends share in this university and in its athletic teams," said Vice President for University Advancement and President and CEO of The Ohio University Foundation Howard Lipman. "The athletic field is one place where individuals from across the campus can come together as part of this special community. I'm confident that Ohio Athletics will achieve its $2.5 million goal and that countless alumni and friends will make a difference by contributing to this effort."
In fact, Ohio Athletics has secured its first matching gift toward Dr. Alden's challenge -- a $50,000 gift from Perry (BSC '80) and Sandra Sook (BSC '80, MED '82) of Southlake, Texas. Perry Sook is a trustee of The Ohio University Foundation.
"Over the next 12 months, we will focus on improving the long-term financial future of the Ohio University Department of Intercollegiate Athletics," Hocutt said. "By aggressively increasing our Athletics Operational Endowment, we will secure the vital unrestricted resources needed to enhance the student-athlete experience for current and future Bobcats."
The new endowment will provide unrestricted support to fulfill the athletics director's vision for Ohio Athletics.
"Dr. Alden is a longtime supporter of Ohio University's academic and athletics programs. His gift and the other generous contributions made by Bobcats will continue to have a positive impact on the success of our athletics programs," said President Roderick J. McDavis. "We thank Dr. Alden and Bobcats for their support and dedication to Ohio University."
There will be a special presentation and announcement pertaining to this initiative at half-time of the Ohio men's basketball game on Saturday, Jan. 19.
