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IU Bloomington capital campaign exceeds goal
Oct. 8, 1999
BLOOMINGTON, Ind. -- The largest fund-raising campaign in Indiana University's history has surpassed its goal nearly a year ahead of schedule. As of Aug. 31, the capital campaign for IU Bloomington had shot past its $350 million goal and stood at $373.6 million and climbing.
The announcement will be made Friday (Oct. 8) by National Campaign Steering Committee co-chairs Barbara B. Jacobs and John F. Kimberling. The campaign began July 1, 1994, and will end on June 30, 2000.
Jacobs, of Cleveland, Ohio, is a civic leader and part-owner of the Cleveland Indians baseball team. Kimberling is a retired partner of Dewey Ballantine and now lives in Palm Springs, Calif. Both are IU alumni and members of the IU Foundation's Board of Directors. The Foundation raises funds from the private sector for IU.
"Under the skillful leadership of our national volunteer co-chairs, and volunteer general co-chairs Donald C. Danielson and William P. Carmichael, the generosity of our alumni and friends has surpassed everyone's expectations," said IU President Myles Brand. "This unprecedented level of support will contribute directly and profoundly to the quality of education for which IU is known."
The focus of the campaign is on endowments for faculty and for undergraduate and graduate students. Endowment gifts are invested so that the income can support the featured objectives in perpetuity.
Endowments for faculty can attract and retain outstanding teachers and researchers and help professors develop materials for new classes, acquire research and library materials, conduct research, and support teaching initiatives. Endowments for students provide scholarships and fellowships to make a college education more affordable.
The number of endowed faculty positions on the Bloomington campus has increased from 31 at the beginning of the campaign to 167 and continues to grow, reported Kenneth R.R. Gros Louis, IU vice president and chancellor of the Bloomington campus.
At the beginning of the campaign, IU stood at ninth in the Big 10 in number of endowed faculty positions. "Now we are in the top quartile," Gros Louis said. "The support from the IU family has been phenomenal, because it demonstrates such broad and deep commitment from the faculty and staff who are involved in the day-to-day life of the university."
Gifts from faculty and staff so far total more than $21 million, more than four times the amount contributed by that group during the university's comprehensive campaign in the 1980s.
"The percentage of contributions from faculty and staff may be the highest we know of at any public university," said Curt Simic, president of the IU Foundation. "The Foundation Board of Directors, too, has been extremely generous. The 69 members of our board have contributed more than $65 million."
Simic attributed the success of the campaign to "incredibly loyal and generous support, the commitment of the university to the success of the campaign, and the endowment matching programs for faculty and student support inaugurated by President Brand."
(Barbara Coffman, 812-855-1422 or 800-558-8311, coffman@indiana.edu)