Syracuse University Campaign Rakes in $110 Million in First Year
The Faculty Today fundraising campaign was launched Oct. 13 with a goal of using $30 million from the university's endowment to match donations toward establishing endowed faculty chairs and professorships.
So far, it has raised more than $3 million to establish three chairs and a fourth will be announced soon, Sischo said.
Last month, SU launched the Syracuse Responds Initiative, which has a goal of raising $2 million by today for student financial aid.
"We have a final push that is on this week to reach out and try to fulfill as much as we can," Sischo said.
That campaign was at $830,000 as of Monday and helped more than 350 students who asked the university for more financial aid so they could continue their studies at SU, Sischo said.
Levine said launching campaigns within a campaign can help boost the overall campaign because it creates new publicity about fundraising.
Universities are constantly raising money and the high price tags attached to private institutions make it necessary for them to raise money for student financial aid so their institution is affordable, she said.
Especially at a time when their endowments, which typically provide money for student financial aid, are taking hits because of the souring economy.
College and university endowments reported an average rate of return of negative 3 percent for the fiscal year ending June 30, according to a survey by the National Association of College and University Business Officers.
The results of a follow-up survey show that endowments' investment returns fell an additional 23 percent from July to November, the first five months of fiscal year 2009.
Between June 30 and the end of December, the SU endowment dropped from $946 million to $686 million, a 26 percent decrease, SU officials said.
The current estimated annual cost of attending SU — including tuition, housing, meals, fees and books — is $47,820. The university provides about $155 million in annual financial aid to about 69 percent of the student body, with an average financial aid award of $16,737, according to SU.
Nancy Cole can be reached at firstname.lastname@example.org or 470-2173.