After raising about $9 million more than its goal of $18 million last year, Ohio University's Division of University Advancement has created a new goal for next year, and has taken steps toward beginning a university-wide fundraising campaign.
The division hopes to acquire $20 million in fiscal year 2009, which began July 1. Although this is only $2 million more than last year's goal, OU can't expect to receive as much in unplanned gifts, said Larry Lafferty, assistant vice president for development. Advancement raised $27,041,000 last year.
The $7.5 million from Steven Schoonover and the $5 million from the Stocker family helped Advancement raise an excess of funds last year, but the division does not plan to have the same type of donations from the same people, Lafferty said.
He added that the division aims to build its expectations to a $30 million annual goal within four to five years.
Advancement did not have as many fundraisers as it wanted soliciting alumni and other donors in recent years, said the division's Vice President, Howard Lipman in a previous interview.
Recently, Advancement hired five people, including a new assistant alumni director, Graham Stewart. It soon will hire a handful of senior-level fundraisers, Lafferty said.
The easiest way to raise money is to get as many people out there as possible
Lafferty said. It all starts to add up.
The division also continues to move toward a capital campaign. The campaign is a university-wide effort to raise a specific amount of money in a designated period of time.
The last capital campaign began in July 1999 and ended in June 2004 under former OU President Robert Glidden. It raised $221 million dollars.
OU hasn't named a start date or monetary goal for the campaign. Lafferty said OU will wait until the economy becomes more secure to do so.
In mid-July, Advancement met with the OU Foundation Board of Trustees, the first time both parties discussed the campaign together. The division also is working with Bentz Whaley Flessner, a consulting firm that performed a comprehensive analysis of the department in January 2007. In September, Advancement will meet with the executive committee of the board to discuss the campaign's goals and a timeline.
Lafferty acknowledged that OU isn't moving quickly toward beginning the campaign, but he said he believes slowly chipping away will pay off in the end.
If you take too big a step too soon you can really set yourself back Lafferty said.
So far, Lipman said Advancement mostly has been making the administration, deans, faculty and staff aware of OU's desire to begin a capital campaign. From this, all parties involved can then hold formal conversations regarding the campaign's objectives, including increasing OU's endowment, which currently totals $240 million.
There are a lot of discussions that need to be had with our university community before we can even begin moving forward
Lipman said. Our ability to be a success in fundraising is also about our ability to include as many people as possible in the process.
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