Fundraising campaign tops $500 million early

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February 9, 2007

1:26 PM

p. The Campaign for William and Mary, the largest fundraising campaign in the College’s history, reached its $500 million goal six months ahead of its June 30 closing date.

p. As of Dec. 31, the seven-year campaign raised $502.7 million, a benchmark College President Gene Nichol is expected to announce at today’s Board of Visitors meeting.

p. According to the Office of University Relations, 58,303 people donated to the campaign, contributing $101.2 million for academic, athletic and research scholarships, $43.3 million for faculty support, $57.8 million for improvement of facilities and $75.9 for unrestricted funds.

p. “Reaching this milestone reminds us, unambiguously, that none love more, care more, or are more powerfully committed to the cause of their college than the alumni and friends of William and Mary,” Nichol said. “I join [former College President] Tim Sullivan, the campaign’s inspiration and prime steward, in pride and gratitude beyond ready description.”

p. The press release said that the campaign will continue raising funds until its scheduled closing date.

p. “[This is] an incredible success story for the College,” Vice President for University Development Sean Pieri said. “As higher education becomes more and more competitive, fundraising is going to be very important.”

p. Pieri said that over $200 million from the campaign would be directly added to the endowment.

p. Publicly announced in 2003, the campaign’s half-billion-dollar goal was more than double the goal of any other College fundraising initiative.

p. Two years ago, when Nichol was a candidate for the College presidency, he said in a student forum that when the campaign ended, a larger one would be needed. Pieri said that there are no plans for a larger campaign at this time.

p. “We are very pleased by the amazing results of the campaign thus far,” campaign chair James Murray Jr. (’74) said. “But there is definitely more to do.”

p. Recently, the University of Virginia announced that its $3 billion fundraising campaign, scheduled to end in 2009, had raised $1.12 billion, The Daily Progress reported.

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