After announcing the results from the University Capital Campaign yesterday, organizers of the huge fundraising effort seem wise for raising the goal two years ago: The current total, announced yesterday at $970.9 million, is a far cry from the original goal of $750 million.
"We are operating in one of the best departments for philanthropy in America," Vice President for Development Robert D. Sweeney said. "Right now, our efforts have given us the opportunity to become one of the preeminent philanthropic American universities."
The Campaign's $970.9 million total is comprised of $852.9 million in gifts and pledges and $118 million in bequests and other future support.
Campaign efforts helped to raise about $10 million throughout the month of August. However, September was an even better month for the Campaign, with an increase of almost $14 million.
"What's nice is that momentum is being sustained in the later stages of the Campaign," Director of Development Communications Bill Sublette said. "The Campaign is still steaming along at full speed."
Sweeney said it will be a remarkable accomplishment once the Campaign reaches its goal.
"The University of Virginia is only one of 20 institutions in the world to have set a $1 billion goal, and we will be one of the top 12 or 13 to actually reach that goal," he said.
In most campaigns, fundraising reaches a plateau after the funding sources are exhausted. But according to Sweeney, at the University, there are even more potential donors now than when the Campaign began in 1995.
"Many of our alumni have gone on to great success ... other donors were just too young seven years ago to give. Now, they have reached an age when they can," he said.
The Campaign's success and seemingly unlimited funding base has made organizers rethink the deadline for the $1 billion goal.
Originally, the deadline was set for December 2000. However, with less than $30 million to raise in two months, there is the opportunity to reach the goal one year sooner.
"It certainly looks good to get this close to our goal a year before the deadline," Sublette said.
Sweeney agreed, saying, "We're excited and encouraged over the opportunity to achieve the Campaign total in one less year."
The Campaign total is compiled from the fundraising totals of individual schools within the University. Larger schools, such as the College of Arts & Sciences, Darden, the Medical School and the Law School, have each raised over $100 million.
"The University contains the environment to create many great alumni," Sweeney said. "Because of this, we've been blessed for a long time"
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