2008 Woodie Awards
Video related to this article is available below.Issue date: 10/22/07 Section: News
Looking Ahead | University launches $3.5 billion capital campaign
Officials announce that Penn has already raised 46 percent of overall financial goal
Paul Richards
It's $3.5 billion.
On Saturday night, Penn President Amy Gutmann officially announced the goal of the multi-billion dollar campaign that the University began two years ago.
She also revealed that in the past two years - the quiet phase of the campaign - the University already raised $1.6 billion.
This figure amounts to 46 percent of Penn's goal, and University officials say fundraising efforts to date have exceeded their expectations.
"We were looking to be at least at 40 to 43 percent, and to be at 46 percent was a really remarkable achievement," Vice President for Development and Alumni Relations John Zeller said. "It's a real testament to the people who stepped up to show support."
Penn administrators were more than pleased with the weekend.
"The messaging was clear, the case was made and people seem very energized by the whole weekend," Executive Vice President Craig Carnaroli said.
Though the campaign will have its "peaks and valleys," Penn isn't expected to slow down much over the next five years, officials say.
"It's kind of like a marathon - this isn't a sprint, it's a five-year initiative," Zeller said.
"We only pick up momentum," Gutmann added. "Even this weekend, people were making pledges to the campaign."
This marathon, however, won't necessarily end at $3.5 billion.
"My goal is not only to make $3.5 billion but to blow by the goal, which, at the pace we're going, we have a real shot at that," Gutmann said.
After five years of a focused campaign, Penn's goal is to maintain its fundraising at that elevated level, Zeller said.
Officials also explained where the capital campaign fundraising dollars will go.
$1.75 billion will go to the endowment in the following areas:
n Student aid will come in at $700 million, making up 20 percent of the campaign.
n $625 million will be given toward faculty support through programs like endowed professorships
On Saturday night, Penn President Amy Gutmann officially announced the goal of the multi-billion dollar campaign that the University began two years ago.
She also revealed that in the past two years - the quiet phase of the campaign - the University already raised $1.6 billion.
This figure amounts to 46 percent of Penn's goal, and University officials say fundraising efforts to date have exceeded their expectations.
"We were looking to be at least at 40 to 43 percent, and to be at 46 percent was a really remarkable achievement," Vice President for Development and Alumni Relations John Zeller said. "It's a real testament to the people who stepped up to show support."
Penn administrators were more than pleased with the weekend.
"The messaging was clear, the case was made and people seem very energized by the whole weekend," Executive Vice President Craig Carnaroli said.
Though the campaign will have its "peaks and valleys," Penn isn't expected to slow down much over the next five years, officials say.
"It's kind of like a marathon - this isn't a sprint, it's a five-year initiative," Zeller said.
"We only pick up momentum," Gutmann added. "Even this weekend, people were making pledges to the campaign."
This marathon, however, won't necessarily end at $3.5 billion.
"My goal is not only to make $3.5 billion but to blow by the goal, which, at the pace we're going, we have a real shot at that," Gutmann said.
After five years of a focused campaign, Penn's goal is to maintain its fundraising at that elevated level, Zeller said.
Officials also explained where the capital campaign fundraising dollars will go.
$1.75 billion will go to the endowment in the following areas:
n Student aid will come in at $700 million, making up 20 percent of the campaign.
n $625 million will be given toward faculty support through programs like endowed professorships
Viewing Comments 1 - 2 of 2
Mustafa
posted 10/22/07 @ 4:43 PM EST
Wow! This video is fantastic. Especially considering it's the first.
Carol Heller
posted 10/22/07 @ 9:57 PM EST
Unless these donors have one or more vanishing points, I think the word you want to use is "prospective."
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