Athletic Administration Building is being constructed adjacent to Chadwick Lake, just across the street from Dudy Noble Field and Humphrey Coliseum, with the aid of campaign contributions. Much of the impact of the campaign lies in the future, says Dr. Billy Ward, vice president for institutional advancement. During 1993-94, the university's total of cash contributions received was by far the largest amount ever in a single year, and most of that was attributable to the campaign. The bulk of campaign commitments, however, are in pledges payable over a five-year period from the date of the commitment, and in deferred gifts that will be realized at some indefinite time in the future, usually at the death of the donor. Also, a large portion of the commitments to the campaign so far, as expected, have taken the form of endowed gifts.
Endowed funds provide a permanent source of income for the designated purpose.
The immediate effect of an endowed gift is not as dramatic as that of a donation which is to be spent upon receipt, but its benefits are long lasting. Its impact on the university grows stronger over time, and will be felt for decades or generations to come. Perry Hall is the new name of Mississippi State's historic cafeteria, which will be preserved and renovated with the aid of a gift from Mrs. Jane Perry in honor of her late husband, former Alumni Association President George D. Perry. The principal of an endowed gift is never spent. Instead, the funds are invested and a portion of the earnings are directed each year to the program or activity the gift is designated to support.