Michigan Raises $3.1 Billion in Funds
The University of Michigan's capital campaign has raised $3.1 billion over the course of eight years, the most raised by a public university ever (besting UCLA's 10-year effort that ended in 2006 and earned $3.06 billion), the Michigan Daily reports.
The campaign officially ends Dec. 31, 2008, but the current amount already far exceeds the university's 2004 goal of $2.5 million, thanks to large donations from Stephen M. Ross ($112.5 million for his name on the business school) and Alfred Taubman ($78.6 million), as well as smaller amounts from 364,000 donors.
Although Michigan has raised the most for a public university, a small handful of elite private colleges are also in the midst of capital campaigns with goals that exceed $3.1 billion: Stanford has a five-year $4.3 billion campaign, while Yale is in year two of a five-year $3.5 billion initiative.
Tags: Michigan | colleges | Yale University | University of Michigan | Stanford University | fundraising
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Great For Michigan, Embarassing For New York
I'm happy any college can raise significant capital in this economy, but I can't help but think how embarrassing this is for SUNY. SUNY is the largest comprehensive college system in the world and has thousands of graduates. You mean to tell me they need to cut their budget and raise tuition while other public schools can raise significant capital?
Just a gripe.
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