Stability and Growth 169
topped the national average of 21 percent for the first time, as Wake
Forest reached 24.4 percent. In the last year of Dr. Tribble's admin-
istration the Development Office was responsible for raising
$650,835.
A breakdown of that figure showed that 3,541 alumni had given
$251,674; 158 businesses and industries contributed $169,369; 30
foundations, $58,216; 71 members of the faculty and administrative
staff, $8,539; 125 parents, $5,332; 1,134 friends, $172,298; bequests,
$3,000; memorial gifts, $3,450; and from 25 companies which
matched employee gifts, $14,954.
In Dr. Tribble's seventeen years as president, alumni giving
amounted to a total of $3,951,291.
Under the 1946 contract with the Reynolds Foundation, the Baptist
State Convention was obligated to give Wake Forest 7.5 percent of its
distributable income. In 1946 that amounted to $100,508. In Tribble's
first year Wake Forest's share had climbed to $121,989 and in his last
year to $386,303. The latter figure was nearly four times the amount
given in 1946 and bespoke the increasing membership and affluence
of the Baptist denomination in North Carolina. For the seventeen
years of the Tribble regime the convention supplied $2,371,867 for
operations and $1,562,429 toward capital needs, for a total of
$3,934,296.
Wake Forest's budgetary needs increased sharply over that time
span, of course. In Tribble's first year the budget for the undergrad-
uate college and the Law School was $1,018,341 and for the Medical
School, $555,102, making a total of $1,573,444. By 196o that for the
college and the Law School was $3,561,529 and for Bowman Gray,
$4,010,526, making a total of $7,572,055. In 1966-67 the undergrad-
uate and Law School requirements had risen to $7,304,964 and the
medical branch went to $7,283,373, making a total of $14,588,337.
For the entire Tribble administration the operating budgets totalled
$118,091,827.
Part of the increase in costs was made up from endowment income.
In 1950 the endowment stood at $5,600,000. In 1967, Dr. Tribble's
final year, the endowment was more than $34 million; total assets of
the college had risen from $10.4 million to 91.2 million. Total
construction costs for the campus as it existed in 1967 amounted to
about $23 million. The following table gives the cost of the various
structures built during Dr. Tribble's presidency:
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