ZANESVILLE— Ohio University is about halfway toward its $450 million capital campaign goal and hopes to find a new vice president for Advancement by July 1.
The campaign, called “Promise Lives,” began about four years ago, and OU increased its goal from $350 million to $450 million at the September Board of Trustees meeting. The campaign had raised about $219 million by November, and now that figure has increased to $231 million.
“We still have 600 prospects at a high level for the campaign that we still have to get out there and talk with and visit with, so I’m really excited about this campaign,” said OU President Roderick McDavis at the Board of Trustees Resources Committee meeting yesterday.
About two-thirds of the money raised from the campaign will be used to increase OU’s endowment, which pays for scholarships, research and professorships, according to a report from the board’s meeting last April. OU’s endowment is projected to increase to $612 million by 2015 and was at $278 million as of September.
Money not allocated toward OU’s endowment will fund the construction and renovation of university buildings, study-abroad programs and learning communities, according to the report.
McDavis estimated that about two-thirds of the money raised from the campaign will come from alumni.
The university is also searching for a replacement for Howard Lipman, OU’s former vice president for University Advancement and chief fundraising officer, and will be conducting airport interviews in Columbus during the second week of March. Since Lipman left at the end of Fall Quarter, McDavis has taken over his position.
“The (search) committee will determine next week who it wants to grant interviews to,” said Kent Smith, vice president for Student Affairs and head of the search committee.
The committee hopes to have the position filled by July 1.
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