With $394 million raised from July 2010 through September 2011, Penn State’s current fundraising effort, For the Future: The Campaign for Penn State Students, ranks second among the capital campaigns of major North American universities, according to the Chronicle of Higher Education. Twenty institutions with recently completed or ongoing campaigns reported their progress over the past 15 months to the Chronicle.
“This ranking highlights the enduring loyalty of Penn State’s generous alumni and friends,” said Rod Kirsch, senior vice president for development and alumni relations. “The success of our campaign so far shows that our mission of providing a world-class education to students from every background really resonates with donors. We are extremely grateful for every gift that has gotten us to where we are in the campaign.”
“It is very encouraging to see how well our capital campaign compares to those of so many other fine institutions,” said Peter Tombros, volunteer chair of For the Future. “But we have much work ahead to ensure that we maintain our momentum. This campaign provides the opportunity to profoundly impact the educational experience of our students and to continue Penn State’s growth as a premier institution.”
For the Future has so far raised more than $1.45 billion of its $2 billion goal and is slated for completion in June 2014. Surpassed only by Columbia University in the Chronicle’s most recent rankings of reporting institutions, Penn State ranked ahead of such public institutions as the University of Virginia and the University of Illinois, and private institutions such as Brown University and Cornell University. All of the institutions have a campaign goal of $1 billion or more, and Penn State was one of only five reporting universities in the Chronicle’s rankings with a goal of $2 billion or more.
For the same 15-month period, Penn State’s Office of Annual Giving, which administers the University’s direct mail, phone, e-communication and faculty fundraising efforts, received nearly $21 million. That figure represents a strong increase compared to the previous 15 months, in which Annual Giving raised slightly more than $18 million.
“The fact that we continue to see this level of generosity in giving to our Annual Fund really shows the strength of our donor base,” said Kirsch. “Considering that we are still living in tough economic times, this support is very gratifying.”