Ohio University is almost half way to the new $450 million goal for its Promise Lives campaign, according to a report presented to the Board of Trustees today.
The board approved a resolution today increasing the campaign's goal from $350 to $450 million. OU has raised a little more than $214 million during the Promise Lives campaign, which began in July 1, 2007 and will end on June 30, 2015, according to the presentation.
Alumni have given the majority - $151.3 million or 70.7 percent - of the donations thus far, according to the presentation.
The generations yet to come through the gate being supported by those who have gone through the gate
said Trustee David Wolfort.
OU received the remaining $62.8 million from corporations, foundations, organizations and non-alumni.
Many of the donors who have given during the current campaign are earmarking their gifts for specific departments, professors or scholarships, said Howard Lipman, vice president for University Advancement.
People have become much more sophisticated in their giving he said. They want to see the impact of that gift.
Lipman said he hopes to use the fundraising campaign to increase OU's endowment, which funds scholarships, research and professorships.
The current unaudited endowment contains $278 million and is projected to increase to $612 million by the end of the Promise Lives campaign, according to the presentation.
One thing we have been focusing on is increasing Ohio University's endowment Lipman said. We feel the endowment is kind of our fund for the future ... We want all our students to be on scholarships.
The endowment should reach $1 billion by the conclusion of the next campaign
according to the presentation.
OU's endowment currently pays out $5.7 million but the presentation projected that endowment payouts will reach about $24.5 million by June 30, 2015.
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Caitlin Bowling
