Fiscal Year 2023 Results Highlight Dedication of VMI Family

Thanks to the dedication and sustained generosity of members of the VMI family, the VMI Alumni Agencies concluded Fiscal Year 2023 on a high note.

The $42.5 million raised in support of the Institute and the Corps of Cadets was higher than the five-year average, a notable achievement. This figure includes cash gifts, pledges, and planned giving. Of that $42.5 million, $22.7 million came in the form of cash gifts supporting the mission of the Institute.

“Success in fundraising isn’t just measured by the funds raised; it’s about a shared passion and vision that inspires actions leading to a greater impact,” said Andrew Deal ’12, Alumni Agencies director of development and VMI Keydet Club chief operating officer. “I am thankful to our team and loyal partners who have joined us on this journey. VMI is a better place because of it.”

More than 4,600 individuals made VMI one of their philanthropic priorities, and of those, just under 600 were first-time donors. Ten percent of alumni donors came from the Classes of 2010–2023, underscoring the fact that young alumni recognize the value of a VMI education and are willing to support current cadets just as they were once supported.

The importance of unrestricted funds cannot be overstated. “Those who provided unrestricted dollars helped VMI find leverage where leverage was needed,” said Meade King ’85, Alumni Agencies director of advancement and VMI Foundation chief operating officer.

Support for faculty salaries is a key example. Several years ago, King noted, the Institute stood 12th in salary rankings among Virginia public colleges and universities; today, VMI ranks seventh and is rapidly approaching sixth.

The Keydet Club, which provides scholarship support to cadet-athletes and operational support to the Institute’s 18 NCAA athletic teams, raised approximately $8.6 million in FY 2023, the third-highest cash total in Keydet Club history. The generosity of Keydet Club donors provided more than $6.2 million in scholarship aid, setting dozens of cadet-athletes on a path to success both on and off the field.

Highlights of the Keydet Club’s FY 2023 included the opening of the John E. Kemper ’68 Film Room, a renovation of the Luck Family Weight Room, improvements to Gray-Minor Stadium, and establishment of a basketball enhancement fund. Compete to Win, the Keydet Club’s annual crowdfunding campaign, raised over $250,000 toward operational enhancement resources to improve the cadet-athlete experience.

“We are thankful for the members of the VMI family whose generosity directly impacts the Corps of Cadets,” said David L. Prasnicki, VMI Alumni Agencies chief executive officer. “Their support is instrumental in ensuring that the Institute continues to fulfill its time-honored mission of producing the leaders our nation needs.”