Last modified: Friday, February 6, 2009
IU raises fundraising campaign goal
FOR IMMEDIATE RELEASE
February 6, 2009
BLOOMINGTON, Ind. -- Indiana University and its fundraising partner, the IU Foundation, today announced that they are raising the goal of the university's "Matching the Promise" fundraising campaign for the Bloomington campus by $100 million, or 10 percent, to $1.1 billion.
The seven-year campaign, which runs through 2010, already has realized 95 percent of its initial $1 billion goal, according to IU President Michael A. McRobbie.
"We recognize that this is a bold move in the current economic environment," McRobbie said. "That environment has prompted us to reduce our budget, increase revenue and reallocate resources to priority areas. These efforts have enabled us to continue to move forward boldly yet realistically in the face of these economic challenges. At a time when many in higher education may be scaling back, we are redoubling our efforts to enhance the educational and research environments that serve the citizens of Indiana and beyond."
McRobbie noted that more than $300 million of contributions and gifts raised so far in the campaign are being used for scholarships and fellowships at IU Bloomington, much of which is significantly reducing out-of-pocket tuition costs for Hoosier students from low- and moderate-income families.
"Affordability and accessibility are key elements of the Matching the Promise campaign," McRobbie said. "By pushing toward a higher goal -- $100 million dollars higher -- we are also pushing toward even greater opportunity for talented Hoosier students."
Gene Tempel, president of the IU Foundation, pointed out that challenging economic times call for creative approaches to philanthropy, but that the Matching the Promise campaign "has maintained its momentum, even during the downturn of the past six months.
"Now we need to -- and can -- do more," Tempel said. "We have faith in our donors, who have demonstrated over and over again their commitment to philanthropy in support of education. It is not a time to stand still."
As examples, Tempel cited the recent $35 million gift to the IU Maurer School of Law--Bloomington from Mickey and Janie Maurer for scholarships; the Lilly Endowment's $15 million gift for the Pervasive Technology Institute; and William R. Fry's gift of $15 million for scholarships in the Kelley School of Business, all made late in 2008.
In addition to student support, the Matching the Promise campaign is raising funds to attract and retain top faculty and to construct facilities for research and teaching.
McRobbie also announced that James T. Morris of Indianapolis, president of Pacers Sports and Entertainment, will become a co-chair of the campaign. Morris is known nationally and internationally as executive director of the United Nation's World Food Program. He will join campaign co-chairs Clarence W. Boone Sr. of Gary, Ind.; Cynthia Simon Skjodt of Carmel, Ind.; and Kathryn Ryan Booth of New York. All are graduates of IU and members of the IU Foundation Board of Directors.
Richard L. Johnson, chairman of the board of Johnson Ventures in Columbus, Ind., will be named honorary chair of the campaign in recognition of his "tireless efforts as co-chair since the campaign's inception," said McRobbie.
IU Foundation Vice President for University Wide Programs and director of the principal gift program, Thomas W. Herbert, is directing the Matching the Promise campaign.
Herbert leads fund development efforts for the Indiana Life Sciences Initiative. He has previously served as assistant vice president for development at the University of Michigan, executive director of development and alumni programs for the IU College of Arts and Sciences, and director of planned giving at the IU Foundation.
For more information about the Matching the Promise campaign, James Morris, Richard Johnson and Thomas Herbert, go to: http://iufoundation.iu.edu/Newsroom/archive/2009/matching-the-promise.html