Ohio University is about halfway toward its $450 million goal in the Promise Lives campaign, according to a presentation to the Board of Trustees Thursday.
OU has already raised about $219 million and expects to surpass $220 million by the end of November, said Howard Lipman, vice president for University Advancement. The campaign, which began July 1, 2007, is right on track to finishing by June 30, 2015, he said.
Most of the dollars have come from alumni, who have donated about $160.9 million so far, according to the presentation. OU has received donations for all academic units as well, which is very encouraging, said Larry Lafferty, vice president for Development.
Lipman attributed much of the campaign's success to the 17.2 percent return on the endowment last year, a strong recovery from the 19.8 percent loss the year before. Although those dollars aren't counted in the campaign total, Lipman said a properly invested endowment sends a message to donors that [OU] takes good care of their dollars.
After the campaign presentation, Lipman, who will leave OU for Florida International University at the end of the quarter, thanked the trustees for working with him during the past four years. Reflecting on his time at OU, he said he was proud of the OU Foundation Board, the success of the endowment, and the volunteer-driven campaign.
Lipman also emphasized OU's need to move toward a private school model, adding that he and Vice President for Finance and Administration Stephen Golding share the desire to eventually raise $50 million a year and reach a $1 billion endowment.
I think people understand that the budget issues we're facing are a result of the lack in state support
Lipman said. It's becoming incumbent on our alumni and friends to give back to our university.
He does not think his departure will affect the capital campaign because no one person is irreplaceable. However, he acknowledged that OU President Roderick McDavis was not entirely happy. After spending four years leading Advancement and traveling together, he didn't want me to leave Lipman said.
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Kristina Hauptmann
