It's not easy to explain the nuances of an annual fund that stretches across the entire University and Johns Hopkins Medicine. But Constance Caplan, A&S 1978 (MA), is up to the task. The Annual Fund chair for The Johns Hopkins Campaign: Knowledge for the World, Caplan is chairwoman of The Time Group, a Baltimore property management firm, and a University and Johns Hopkins Medicine trustee.

With annual funds being applied a bit differently at each school or division at Johns Hopkins, is it possible to explain the Annual Fund in an all-inclusive way?
The Annual Fund represents the base of Johns Hopkins support from alumni, friends, faculty, grateful patients, and others associated with Johns Hopkins. Giving Annual Fund money is a simple process, really. There is no need for complicated paperwork, and gifts can be of any size. These gifts are available to be used right away, either as the donor specifies, or in an unrestricted way, at the discretion of deans and the university administration.

Why are unrestricted gifts important?
Unrestricted money can frequently be used in the most productive way possible because it comes with no strings attached. It's a matter of being able to place trust in the deans and those who really know the schools best.

I am so impressed by the quality of the leadership—deans, faculty, and administration—and the overall dedication of people who work at Hopkins. Johns Hopkins is recognized worldwide for excellence, and I have confidence in the quality of the people who are leading the institution, so I trust them to spend wisely.

However, if a person wants to designate Annual Fund money for something specific, he or she can do that.

How is most Annual Fund money spent?
Historically, most Annual Fund money is used to provide students with financial aid. That's true across the institution. Hopkins' scholarship endowment is less than that of peer institutions, so Annual Fund money is absolutely vital if we are to continue to compete for the best students year after year. With some funds, like the Hopkins Fund—the undergraduate annual fund for Arts & Sciences and Engineering—there are additional priorities. Money from the Hopkins Fund is designated to support scholarships, teaching, and the Milton S. Eisenhower Library.

How might you respond to donors who have the impression that smaller gifts don't make a difference in a place like Johns Hopkins?
No matter how small a gift is, it's important. It represents a decision. Smaller gifts are often catalysts for larger gifts, and the Annual Fund is the perfect place to put gifts of all sizes to work by pooling them during the fiscal year. It's a fact that great accomplishments often result not from a single act, but from the accumulation of many smaller acts. The same is true with gifts. It's the accumulation of smaller gifts that gives them a significance they would not have individually.

Also, people need to keep in mind that many large gifts are targeted for large capital projects or are designated for very specific purposes. Annual Fund money provides much more flexibility to respond to needs as they arise.