January 26, 2007
UW Foundation raises campaign goal by $500 million
The University of Washington Foundation decided today (Jan. 26) to raise its fundraising goal by $500 million, to $2.5 billion. Campaign UW: Creating Futures began in 2000 with a goal of raising $2 billion by June 2008. The $2 billion goal was reached Friday, 17 months ahead of schedule.
“We reached our goal far more rapidly than we ever could have imagined,” said Orin Smith, president of the foundation. “Our contributors—alumni and friends of the University, as well as foundations and corporations—have been amazingly generous in their decisions to support the great work of this institution. We now have the opportunity in the next 17 months to raise additional funds to meet remaining needs, including substantial support for student scholarships. One of the highest priorities is our Students First campaign, an effort to ensure that a UW education remains affordable for all those qualified to attend.”
Students First offers a 50 percent match on gifts of at least $100,000 targeted for undergraduate scholarships or graduate fellowships. The new campaign goal includes $50 million for Students First.
“Campaign UW already has had a huge impact on the UW, by assuring that the university remains competitive with its peer institutions and is able to sustain high-quality education and research,” said UW President Mark A. Emmert. “We are tremendously grateful to everyone who has helped us reach this point in the Campaign and a bit overwhelmed by the generosity of our donors. At this point in the effort, as we review our original campaign goals, we realize there is still a lot of work to be done and important areas of need that we would like to address in the remaining time. We are very gratified that the members of the Foundation Board remain committed to the effort and have renewed their commitment by increasing the goal today. The money we raise for Students First in the next 17 months will have an impact on the University for generations to come.”
So far, the campaign has created 32 additional endowments for chairs, 81 for professorships, 131 for fellowships, 231 for scholarships and 73 for student support. Of the $2 billion raised thus far, a total of nearly $460 million has been contributed to endowments that will generate support in perpetuity.
More than 226,000 donors have contributed to the campaign, with gifts ranging from a few dollars to more than $100 million. Alumni have accounted for about 18 percent of donations in the current fiscal year, with corporations and foundations giving 20 percent and 19 percent, respectively.
“By contributing to the campaign, individuals feel part of something that enhances our community,” said William Gates, Sr., chair of Campaign UW. “Programs such as global health provide solutions to health care problems around the world. Support for Nursing, Medicine, Pharmacy, Dentistry, and Public Health translates into cures, better health care today, and excellent training opportunities for practitioners of tomorrow. And UW research is an engine for jobs and continued economic growth in our region.”
“The core of our fundraising goals for the remainder of the campaign,” Gates said, “will be money for scholarships for the neediest students. Extending the campaign goal allows us to reach out to a greater number of students who otherwise would not be able to afford higher education. Reaching these students is a simple of matter of equity for the university, and our way of guaranteeing that the state provides economic opportunity for a larger share of our citizens. I can’t think of a better investment in all of our futures than an investment in the future of the talented students who will be helped by these funds.”
More information about Campaign UW is at www.uwfoundation.org.
