The 2006-07 Webb Alumni Fund (WAF) Campaign is underway, and as always, we need your financial support. In the current economy, Webb's income is not sufficient to meet operating costs, and the use of some endowment assets is necessary to make up the difference. Webb's budget for 2006-07 projects an operating deficit of over $2.5 million that must be offset by transfers from the endowment. Your support of the annual WAF campaign is vital to minimize those transfers, and enable the endowment to grow at a rate that will provide for Webb's long-term financial security. Despite the challenging economy, Webb must still spend for costly improvements, including upgrades to the school's electrical and IT systems, a new 10-passenger van, a new viewbook for recruiting, and new software for the registrar and admissions office. In light of these pressures, Webb is depending on the generosity of its alumni more than ever.

Last year's campaign was very successful. We achieved new records of $598,186 in regular contributions, and 76.1% participation. Webb is #1 in participation of all colleges nationwide. Details are provided in the 2005-06 Annual Giving Report. The goals for the 2006-07 annual campaign are $600,000 in regular contributions with at least the same participation as last year. We have not set more ambitious goals for the annual WAF campaign, as we want to encourage all alums to also pledge and contribute to the concurrent multi-year Capital Campaign, which will fund major improvement initiatives that are not affordable within Webb's operating budget. Re-stating what has been said in all solicitations for the Capital Campaign, contributions to the Capital Campaign should be over-and-above your regular contribution in the annual WAF campaign.

The current campaign ends on June 30th, but we urge you to respond right away while it is fresh in your mind. Please mail your contribution check today in the enclosed envelope; or call the Development Office at 516-759-2040 to charge your donation on Visa, MasterCard or Discover; or contribute online using Visa or MasterCard. We strongly encourage all alums to consider setting up a plan whereby your annual contribution is made in automatic monthly installments. To do so, contact the Development Office staff, who can also help you with stock transfers, bequests and other forms of planned giving.

Thanks in advance for your continued generosity. With your support we will see Webb get through these difficult economic times, and we will make the 2006-07 Webb Alumni Fund Campaign the most successful ever!