Indiana University Raises Fundraising Campaign Goal
February 6, 2009, BLOOMINGTON, Ind. -- Indiana University and its fundraising partner, the IU Foundation, today announced that they are raising the goal of the university's "Matching the Promise" fundraising campaign for the Bloomington campus by $100 million, or 10 percent, to $1.1 billion.
The seven-year campaign, which runs through 2010, already has realized 95 percent of its initial $1 billion goal, according to IU President Michael A. McRobbie.
"We recognize that this is a bold move in the current economic environment," McRobbie said. "That environment has prompted us to reduce our budget, increase revenue and reallocate resources to priority areas. These efforts have enabled us to continue to move forward boldly yet realistically in the face of these economic challenges. At a time when many in higher education may be scaling back, we are redoubling our efforts to enhance the educational and research environments that serve the citizens of Indiana and beyond."
McRobbie noted that more than $300 million of contributions and gifts raised so far in the campaign are being used for scholarships and fellowships at IU Bloomington, much of which is significantly reducing out-of-pocket tuition costs for Hoosier students from low- and moderate-income families.
"Affordability and accessibility are key elements of the Matching the Promise campaign," McRobbie said. "By pushing toward a higher goal -- $100 million dollars higher -- we are also pushing toward even greater opportunity for talented Hoosier students."
Gene Tempel, president of the IU Foundation, pointed out that challenging economic times call for creative approaches to philanthropy, but that the Matching the Promise campaign "has maintained its momentum, even during the downturn of the past six months.
"Now we need to -- and can -- do more," Tempel said. "We have faith in our donors, who have demonstrated over and over again their commitment to philanthropy in support of education. It is not a time to stand still."