By Jaci Schneider, Copy Editor
Fundraisers have raised about two-thirds of their goal for the Centennial Campaign but need to raise $50 million more to reach their goal by Dec. 31.
The campaign, which began in 2001, has a goal of $150 million, said Brett Magner, director of development for the university.
“As of right now we have a little over $100 million,” Magner said.
Since the early ’90s, the university has raised money with campaigns, Magner said. Every gift a donor makes counts toward that campaign’s goal.
The Centennial Campaign divides into three categories: the annual fund, which is what helps run the university on a day-to-day basis; capital, which includes building projects and library acquisitions; and an endowment fund, which provides reliable income and scholarships for the university every year through interest.
Each category has its own goal and its own typical kind of donations, Magner said.
When people write checks to the university or make smaller donations, the money goes into the annual fund, which goes toward the operation budget.
“It’s like a checking account for the university,” Magner said.
Its goal is about $21.5 million, and it is divided into many smaller categories. So far, the university has raised about $18.4 million, Magner said, and that money pays for professors’ salaries, athletics, departmental budgets and equipment.
The capital fund has a goal of about $34.6 million and so far has about $7.4 million. This money pays for building projects, such as the Burford Center renovations and the planned Welcome Center. When people make donations specifically for certain projects, it goes into this category.
Finally, the endowment fund has a goal of close to $94 million and generally receives the largest donations of the campaign, often through peoples’ estates, Magner said. The fund currently has $74.6 million.
With one-third of the goal still to be collected in one-sixth of the time frame, Magner said fundraisers will work hard to reach the goal by the end of the year.
“Between now and then there will be many conversations with friends of the university and alumni,” Magner said.
“We’re still shooting for [our goal],” he said. “It’s going to be quite a stretch, and it’s going to take a lot of concentrated effort from lots of folks and lots of prayers.”