Campaign reaches $305 million at second anniversaryThe Campaign for the Next Century marked its second anniversary by reaching $305 million, or 61 percent of its goal of $500 million.
The five-year campaign was announced on Oct. 5, 1991, with a nucleus fund of $117 million already in hand. As of Oct. 5, 1993, the work of trustees, volunteers and friends had brought the campaign to more than three-fifths of its goal.
"I am enthusiastic about the campaign's progress in its first two years," said Trustee B. Kenneth West (M.B.A.'60), chairman of the campaign. "Our volunteers have been working against a sluggish economy, but they have built real momentum and success so far in encouraging the generosity of our alumni and friends."
Most of the campaign's support has come from individual donors, who have contributed $171 million, including more than $39 million from the University's Trustees. Foundations have provided an additional $81 million, and corporations have contributed $31 million.
The Campaign for the Next Century is the largest in the University's history. A major goal of the campaign is to increase the University's endowment by almost 25 percent in order to increase support for faculty positions and research, College scholarships and graduate fellowships, and funds for library acquisitions and enhancement. Other goals include $75 million for building projects, including the new Biosciences Learning and Research Complex, the new downtown center for the Graduate School of Business and Continuing Studies, the new wing for the Laboratory Schools, expansion and improvement of the Oriental Institute Museum, and a new athletics center, which will include a swimming pool and a gymnasium.