Campaign blazes past $1 billion goal

By Bill Sublette

The Campaign for the University of Virginia has reached its $1 billion goal more than a year ahead of schedule, President John T. Casteen III announced today. The fund-raising effort was taken over the top by the largest gift in the University's history, a $60-million contribution to the Darden School from U.Va. alumnus Frank Batten.

Officially launched Oct. 6, 1995, with a target of $750 million, the campaign raised $350 million in its pre-kickoff phase. In February 1998, as the campaign's growing momentum pushed it beyond $670 million, the University increased the goal to $1 billion. To date, the fund-raising effort has received nearly $1.036 billion in gifts, pledges and deferred commitments.

"We began this campaign with the purpose of securing our centers of excellence and achieving a measure of stability and self-sufficiency in a time of reduced state support," Casteen said. "The campaign has made enormous strides toward fulfilling these goals, but more important, it has given us the confidence to think boldly about the University's future and to envision ways to build on what our donors have enabled us to accomplish."

Nearly 127,000 donors have taken part in the campaign, which has continued to maintain a strong pace. The 1998-99 fiscal year was the best ever for the fund-raising effort, generating $198 million in gifts and pledges. In that same year, the campaign passed its $100 million goal for future support, such as bequests and other estate gifts. Many donors have participated through annual giving, which in 1998-99 provided more than $18 million in unrestricted support for schools and programs at the University. The campaign is making its most visible impact on the University's physical environs. On the North Grounds, it has financed some 550,000 square feet of new and renovated buildings for the Law School and the Darden School. In athletics, it has made possible improved and expanded facilities for football, baseball, lacrosse, soccer and other sports.

In whole or in part, gifts to the campaign are funding such projects as:

a biomedical engineering and medical sciences building now under construction;

• a research wing for the epartment of Environmental Sciences;
  
  
• a new complex that will house the Albert H. Small Special Collections Library and the David A. Harrison III Institute of American History, Literature and Culture;
  
  
• restoration of Pavilion VII; and
  
  
• restoration of student rooms on the Lawn.

The campaign has added $35 million to the University's general endowment, and it has provided another $50 million in entirely unrestricted funds. To date, the campaign has received gifts, pledges and deferred commitments for 161 endowed professorships, 100 endowed fellowships, and 596 endowed scholarships.

Although the $1 billion goal has been achieved, the campaign is not over, said Robert D. Sweeney, the University's vice president for development. He noted that many of the campaign's goals remain unmet, and other fund-raising priorities have arisen since the campaign began its pre-kickoff phase in 1993.

"We can all take pride in reaching this historic milestone, but our job's not done," Sweeney said. "We still have to address pressing needs in the University's core academic programs, and we must ensure that the campaign attracts the broadest possible participation among our alumni and friends. Every gift counts, from annual contributions to gifts like Frank Batten's that are transforming the University. We want everyone who values this institution to share in the success of this effort."