By Mallory Schlabach, Editor in Chief
With two and a half months to go, the Centennial Campaign sits at $114 million, $36 million shy of its $150 million goal, said Phil Boone, director of the Centennial Campaign.
The campaign, which was announced in Feb. 2004, is on track to have the money raised-just not by Dec. 31, as was originally planned, he said.
“We expect to reach our goal. It may be Feb. 28 instead, but it will be close,” he said.
The funds raised in the Centennial Campaign will be designated into three categories: $95 million for the endowed scholarship fund, $39.9 million for capital projects fund, and $16.4 for the “margin of excellence” fund.
Boone said the endowment fund, which was listed at $238 million as of Thursday, helps students receive money for more than 100 scholarships offered by the university. He said the capital projects fund covers money needed for building renovations, new buildings and anything that a person can physically see on campus. The final category covers money needed when “unexpected opportunities to attract or bring new students arises.” He said having money available in this category puts the university in the position to respond.
As soon as the all the money is raised, new projects on campus can begin.
“We lack about $6.7 million on the Hunter Welcome Center,” Boone said. “We want to be able to break ground on the Welcome Center as soon as possible.”
Although the Campaign has not reached its goal yet, Boone said it is not too late.
“The Centennial Campaign has raised the most money of any campaign in the history of the university,” he said. “Alumni can still participate in the most successful campaign.
“Alumni and students can celebrate in thankfulness to God because ACU is in the greatest financial position in its history because of the gracious donors we have today.”