The Board of Visitors met yesterday to approve and outline the goals and events related to the public launch of the Capital Campaign and to reveal the campaign CASE statement.
The External Affairs Committee outlined for the Board the five major objectives of the campaign, which included: the promotion of the public segment of the campaign, an effort to increase philanthropic donations, increased relations between the Board foundations and the University, the prospering of constituent engagement efforts and the improvement of University marketing communications.
"We are very much committed to the goals," said Bob Sweeney, senior vice president for development and public affairs.
Sweeney also emphasized the need for more "elite" level funding by way of philanthropic donations, in order to enhance the perception of the University.
"We will no longer compare ourselves to top public universities ... but [to] a handful of the elite private universities," he said.
Committee members commented that, while the University is currently ranked within the top 10 of other peer institutions for philanthropic capital, it still lags behind schools such as Stanford, Cornell and Johns Hopkins.
According to Sweeney, the University endeavors to earn $300 million in philanthropic gains on a yearly basis. This breaks down to about $1 million a day. The University's fiscal calendar runs from July to June.
The Capital Campaign, as a whole, however, aims much higher. The University seeks to raise at least $3 billion by the end of the campaign's run in 2011.
According to Board member Gordon F. Rainey, the University is currently ahead of its "$1 million a day" and is 33.6 percent of the way towards the annual $300 million goal.
In addition to philanthropic funding, the Board hopes to improve the perception of the University through a new marketing plan.
Promotion of the University is led by the firm of McCann Erickson. Eric Keshin, a 1980 Commerce graduate, chief operating officer of McCann WorldGroup and regional director of McCann Erickson North America, stressed the need "to differentiate" and "change the perception" of the University.
A key component of the Committee's financial outline is the campaign CASE statement, a representation of the University put forth to potential donors. Director of Development Communications Bill Sublette briefed the Board on the Case's contents.
Dressed with the slogan "Knowledge is Power," the plan aims, according to Sublette, to inform prospective Campaign contributors about the "three buckets" of the University -- student experience, dynamic research and service to society.
The CASE statement will be updated throughout the campaign, which kicks-off Sept. 29. A printable version of the report will be made available online, in October.
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