Campaign nearing $500 million goal with 18 months still to go
The Campaign for the Next Century has passed the $450 million milestone and is well on its way to achieving its $500 million goal, according to campaign leaders.
As of Dec. 31, the campaign has raised $455,951,526. The University's goals are to increase endowment for faculty support and student aid and to raise funds for numerous building projects and renovations. Launched during the University's Centennial celebration in 1991, the campaign is scheduled to run through June 30, 1996.
"We are tremendously pleased with the progress of this campaign," said Randy Holgate, Vice President for Development & Alumni Relations. "It is the largest campaign ever undertaken by the University, and even if we were to stop today, it is already the most successful in terms of money raised. Our success is due to the generosity and leadership of alumni and friends of the University, who believe Chicago is a place that deserves enthusiastic support."
As has historically been the case at Chicago, a majority of fundraising support has come from individual donors. To date, individuals have donated more than $275 million through the campaign. More than $62 million of that total has been given by Trustees of the University. Foundations have made gifts or grants of nearly $106 million, and corporations have donated more than $41 million.
Each year of the campaign, donations to the University have risen steadily higher, with last year's gifts and grants surpassing $100 million for the first time in the University's history.
"The momentum of the campaign is such that we may meet our goal a year early," Holgate said. "In fact, we are consulting with the Trustees about the feasibility of raising our goal so we can harness this positive energy to accomplish even more for the University."
A major goal of the campaign is to increase the University's endowment by nearly 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 upcoming expansion and improvement of the Oriental Institute Museum and the construction of the Duchossois Center for Advanced Medicine, the Biological Sciences Learning Center and Jules F. Knapp Medical Research Center Complex, the University of Chicago Downtown Center and a new athletics center.
The Campaign for the Next Century is one of approximately 140 university or college campaigns currently under way around the country; it is one of 16 campaigns with goals of $500 million or more.