|
|
|
|
|
IU Bloomington endowment campaign sets records; IU first among Big Ten public universities in endowed faculty
April 26, 2001
NOTE: More specific information is available on the IU Foundation's Web site at http://iufoundation.iu.edu/bec/
BLOOMINGTON, Ind. -- Indiana University is in first place among Big Ten public universities in number of endowed faculty positions after the largest fund-raising campaign ever conducted at IU.
IU leads the Big Ten public universities with 333 chairs, professorships and curatorships.
The number of endowed faculty positions on the Bloomington campus alone increased by 178 percent, from 72 to 200. Endowments supporting students on the Bloomington campus also increased dramatically, from 888 to 1,543.
"The Endowment Campaign for Indiana University Bloomington lays a solid foundation for IU's future. Since endowments are invested, they create an ongoing, permanent source of funding for faculty and student support," said IU President Myles Brand. "A strong endowment base enables IU to attract -- and retain -- outstanding faculty. It also allows us to provide scholarships for the nation's brightest graduate and undergraduate students. The campaign was a genuine triumph, and it will enable the university to reach new heights of excellence," Brand added.
The Bloomington campaign, which was launched in July 1994 and concluded last December, focused on increasing endowed support for faculty and students and raised $504 million, far exceeding its goal of $350 million, Brand said. The Bloomington campaign total includes gifts and pledges for endowment, annual support for current spending, and non-governmental grants. Endowments enhance rather than replace state support.
"This campaign is remarkable in a number of ways," said Bloomington Chancellor and IU Vice President Kenneth R.R. Gros Louis. "First is the unprecedented level of support from faculty and staff, who contributed more than $27 million. According to IU Foundation President Curt Simic, this is, to our knowledge, the highest 'insider' total contributed to any public university campaign to date. Indiana University's faculty and staff, along with alumni and friends, have certainly done their part to step up to the challenge of providing for quality education at IU.
"Second, every college and school, plus the Art Museum and Athletics, exceeded its individual goal, which is very rare for a comprehensive campaign," Gros Louis added. "Finally, this campaign is remarkable for the enormous and enduring effect it is having, and will continue to have, on the Bloomington campus. Most campaigns target specific areas. This campaign has raised the quality of the campus across the board."
According to Simic, an important factor in the success of the Bloomington campaign, and of fund- raising for IU as a whole during this period, was an innovative program established by Brand. "The president and the trustees of IU set aside $6 million to match the income generated by new endowment gifts of $500,000 or more," Simic said. "This was a great incentive to prospective donors since it doubled the immediate impact of their gifts."
One hundred twenty-four endowed faculty positions university-wide benefitted from the match.
The IU Foundation's board of directors also were very generous donors, Simic said. "The 73 current, lifetime and honorary members created 25 endowed faculty positions and dozens of scholarships. As a group, they contributed $78 million to the campaign."
Four IU Foundation board members chaired the volunteer national steering committee for the campaign. The four, who also are IU alumni, are Barbara B. Jacobs of Cleveland; John F. Kimberling of Palm Springs, Calif.; Donald C. Danielson of Indianapolis; and William P. Carmichael of Chicago.
More information is available at the IU Foundation's Web site at http://iufoundation.iu.edu/bec
BACKGROUNDER:
The campaign:
A $504 million campaign, called the Endowment Campaign for Indiana University Bloomington, has dramatically increased endowed support for faculty and students on the campus. The campaign, which began in July 1994, concluded in December 2000.
What is an endowment?
(1) Gift funds that are invested. Only a portion of the earnings is spent annually; the remainder of the earnings is reinvested to maintain the purchasing power of the endowment over time.
(2) One of the best vehicles a university can use to keep tuition costs affordable.
(3) A good strategy to offset the effects of inflation and pressures on state appropriations.
(4) An important aid in attracting and retaining today's outstanding faculty as well as tomorrow's brightest scholars.
Campaign results:
Indiana University now ranks first among Big Ten public universities in the number of endowed faculty positions with 333 chairs, professorships and curatorships.
The Bloomington campus saw a 178 percent increase in the number of endowed faculty positions, from 72 to 200.
The number of endowments on the Bloomington campus supporting undergraduate and graduate students, including scholarships, fellowships, prizes and awards, increased from 888 to 1,543, or 74 percent. In the first 174 years of the University's existence, 888 endowed student support funds were created for the Bloomington campus. Another 655 were added during the campaign.
The campaign exceeded its $350 million goal by 44 percent for a total of $504 million.
All areas participating in the campaign exceeded their individual goals. This is rare for a comprehensive fund-raising campaign in higher education.
Four academic units -- the School of Education; the School of Health, Physical Education and Recreation (HPER); IU Libraries; and the School of Library & Information Science -- established their first endowed positions ever. The IU Art Museum endowed all seven of their curatorships.
An important factor in the success of the campaign was an innovative program established by IU President Myles Brand and IU Trustees, who set aside $6 million to match the income generated by new faculty endowments of $500,000 or more. The match was a tremendous incentive to prospective donors.
Faculty and staff contributed more than $27 million to the campaign. To our knowledge, this is the highest "insider" total contributed to a campaign at a public university.
The IU Foundation's volunteer board of directors established 25 endowed faculty positions and dozens of scholarships. As a group, they contributed $78 million. The board numbers 73, including 47 current, 18 lifetime and eight honorary members.
More information is available on the IU Foundation's Web site at http://iufoundation.iu.edu/bec/ concerning:
Big Ten public universities: number of endowed faculty positions as of December 2000
Endowed faculty positions, by academic unit, before and after the campaign
Dollars raised and percent of goal achieved, by unit
Campaign progress: goals and totals achieved for endowment and ongoing support
Endowed student support, by academic unit, before and after the campaign
FAQ: What is an endowment and how does it function?
(Barbara Coffman, IU Foundation, 812-855-1422, coffman@indiana.edu or Susan Dillman, IU, 812-856-9035, sdillman@indiana.edu)