The Columbia Capital Campaign is significantly ahead of schedule, having reached over 93 percent of its goal as of Tuesday.
Created in 2006, the Capital Campaign started with a goal to raise $4 billion by the end of December 2011, only to increase that goal to $5 billion after nearly reaching $4 billion a year ahead of schedule. To date, the campaign has raised $4.68 billion dollars.
“We are encouraged by the strong alumni response to the chance to connect with Columbia in such a meaningful way,” Fred Van Sickle, executive vice president for university development and alumni relations, said in a statement.
Van Sickle noted that over 93,000 Columbia alumni have donated to the campaign—roughly one-third of all alumni worldwide.
The campaign funds new initiatives around Columbia and continues to support financial aid for students and faculty salaries.
Jerry Kisslinger, CC ’79 and chief creative officer for the Office of Alumni and Development, said that the campaign will continue to support tangible results on campus for current students, including renovations to athletic facilities and academic centers.
“The Campaign has always been about the cornerstones of Columbia education—financial aid, faculty, program and other operating costs,” Kisslinger said. “Growth in annual giving to the schools … remains a goal.”
Since the campaign’s inception in 2006, annual giving to the College has increased 34 percent, which Van Sickle attributes in part to the involvement of graduating Columbia seniors.
“The record-setting participation of the College and SEAS senior classes is very heartening,” Van Sickle said. “We are eager to build on momentum among recent graduates.”
While the majority of money raised from the campaign funds research initiatives, support for student financial aid accounts for the second largest portion of the pie. In addition, donors have committed to endow 134 new faculty positions.
And although the campaign has reached 93 percent of its goal, University President Lee Bollinger left open the possibility of upping the goal again.
“Six billion sounds better and better,” he said in a December interview. “Fundraising is going extremely well—last year was the second highest year in our history.”
Bollinger noted that during the recession, Columbia was still raising at least $400 million annually, significantly more than other peer institutions.
“I am really happy with that,” he said. “In terms of actual dollars, I think we will come out third or fourth in the country, which is where we want to be. But we still have quite a ways to go.”
Even if the official target does not increase, Bollinger said that the campaign would continue until December 2013 in order to surpass the $5 billion mark.
“My personal feeling would be that we will probably go through that—there’s no reason to stop,” he said. “We’ll continue on and really exceed that significantly. You never stop.”
Kisslinger echoed similar sentiments when asked what was in the future for the campaign.
“Looking beyond 2013, we will keep raising funds after the campaign to keep Columbia moving forward in doing more for students—and for the world,” he said.
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