Thus it appears that Radcliffe is flush with money—it brought in nearly four million more than it spent last year.

However, almost all of that surplus was part of the merger payments guaranteed to Radcliffe from the University—start-up payments which are slated to sunset in 2012. After that, Radcliffe will be responsible for its own funding as one of the University’s 10 autonomous schools. But unlike the other schools, which gain revenue from tuition and have growing alumni bodies, Radcliffe’s alumnae base will only decrease over time—and the Institute must plan accordingly.

“I think alumnae who feel a loyalty to the Institute as a successor to Radcliffe College will continue to contribute,” says Biloon. “But in the long-run, an institute has to look to different sources of fundraising, because we’re all dying off.”

Associate Dean for Advancement and Planning Tamara Elliott Rogers ’74 says that in recent planning efforts, the Radcliffe Institute has done just that, turning to some of the same sources of funding as its peer institutions, such as foundations and corporate contributions.

And Faust says the Institute’s recently-begun “financial modelling exercise” takes the fact that merger payments will cease in 2012 into account.

“We are defining our mission to fit within our means,” she explains.

In addition, the Institute is also positioning itself to appeal to a new constituency—one that includes younger alums, Harvard men and individuals unaffiliated with the University.

“The fundraising will be a very difficult and more challenging situation once the core constituency [of alumnae] is gone,” Rogers says, noting that the “magnitude of graduating classes of alums” will be difficult to replace.

According to Faust, new constituencies to court include “younger alums and people excited about the new Radcliffe identity.”

But in the meantime, its core alumnae supporters remain a very important part of the Institute’s fundraising efforts, according to Radcliffe officials, who declined to specify the percentage of total gifts that came from alumnae last year.

What Alumnae Want

Since the merger, Faust and other Radcliffe administrators have charted a clear course as an institute for advanced study, leaving many in the Radcliffe Association to wonder where they fit in.

And so, when the annual meeting of the association rolled around in April 2002, its board of management decided the time had come to take a fresh look at their relationship with Radcliffe.

The 10-member “Futures Committee,” charged with creating a strategic plan for the group every five years, was selected in June 2002—a year ahead of schedule.

Over a period of six months, the group of alumnae hashed out a series of recommendations and concerns.