Capital campaign expected to reach fundraising goal six months early

Markle Hall of Administration.

The college’s capital campaign raised about $40 million in the last ten months, bringing the total to about $367 million. The college expects to reach its $400 million goal in June 2018, six months before the campaign’s end.

“We will end the campaign in December 2018,” Vice President of Development Kim Spang said. “We are poised to be somewhere in the $400 million mark by June of 2018.”

Out of all 14 categories of fundraising, 11 of which have a monetary goal, financial aid’s target is the highest at $85 million. Spang said the college’s hope is to even surpass this in the six months between when the college plans to meet its $400 million total in June 2018 to when the campaign ends in December 2018.

Financial aid is a “big part of the college’s strategic direction,” Spang said. The college plans to work toward need-blindness with its expansion plan to add almost 400 students to campus. It is currently need-aware and meets 100% of demonstrated need, but only admits students who can pay given the available financial aid.

The goal for financial aid by the end of 2018 was $60 million originally, but when the college realized that goal would be surpassed quickly, the target was raised, Spang said. Nearly $69 million had been raised as of this September.

Some categories of fundraising saw goals decreased in order for financial aid to increase. The Rockwell Integrated Sciences Center started off with a target of $70 million, with the construction costs totaling $75 million. But, the campaign now seeks a total of $60 million for the center, with a little more than half of that money raised as of September.

The technology and innovation fund was decreased from $20 million goal to $15 million, partly because, Spang said, it “wasn’t connecting with donors.” It sat at about $11 million raised according to September totals. Spang said the college will look to support this in other ways.

Having undergone a six year private phase of fundraising before the past three years of a public one, the college has received donations from alumni, organizations and “friends of the college,” which included family members of alumni and Easton residents.

By December, Spang said the campaign hopes to be at $375 million, and pending the timing of three large donations it could exceed that.

“The successes we’ve had through the years go beyond what the original plan was. Ten years ago they never thought we would’ve set $400 million,” said Adam Stauffer, Assistant Vice President of Principal Gifts, Gift Planning and Athletic Fundraising.

About Kathryn Kelly

Kathryn Kelly '19 is the editor-in-chief of The Lafayette. She studies government & law and Classics.

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