Harvard University Wants To Raise $6.5 Billion
It's an aggressive fundraising campaign for the richest university in the country.
On Saturday, Harvard University announced its largest-ever fundraising goal of $6.5 billion in order to support the school’s ambitious academic initiatives.
Known as â€śThe Harvard Campaign,â€ť the aggressive, university-wide fundraising effort aims to bring in billions of dollars in order to fuel â€śnew approaches to teaching and learning,â€ť as well as â€śadvance discovery and learning.â€ť
Drew Gilpin Faust, president of Harvard University, said the campaign comes at a time when the higher education field is being challenged to reinvent itself. â€śWe embrace this opportunity for a campaign that aims to do more than merely extend or reinforce long-standing strength and eminence,â€ť said Faust. â€śThe Harvard Campaign calls upon us to articulate and affirm the fundamental values and purposes of higher education in a world transformed by globalization and technology, a world filled with promise for improving human lives, a world in which talent recognizes no boundaries, and in which creativity and curiosity will fuel the future,â€ť she said.
According to a statement from school officials, the university has already raised $2.8 billion, representing gifts from more than 90,000 alumni and friends during the campaignâ€™s pre-launch phase.Â Here is a breakdown of where all that money will go, once the additional $3.7 billion is secured:
â€˘Â 45 percent of the money raised will support teaching and research.
â€˘Â 25 percent will support financial aid and the student experience.
â€˘Â 20 percent will fund capital improvements.
â€˘Â 10 percent will be allocated for flexible funding to foster collaborations and initiatives.
The campaign was unveiled over the weekender during a ceremony with Bill Gates. Gates attended the school for three years before dropping out to start Microsoft.
Source URL: http://www.bostonmagazine.com/news/blog/2013/09/23/harvard-university-sets-ambitious-fundraising-goal/