DePauw University publically launched "The Campaign for DePauw," a fundraising campaign with a $300 million goal, at a kick-off celebration on East College lawn.
According to the press release, the campaign “will seek new funds to support the university’s academic programs, financial aid efforts, student preparation programs and an array of campus improvements.”
"It is DePauw's moment, and it will take the participation of a great many of our loyal alumni and friends to meet the challenge we are setting today,” University President Brian Casey said in a press release. “I am confident we will rise to the challenge and, as a result, that DePauw will ascend as a college known across the state, nation and the world as a place that changes lives."
DePauw last launched a captial campaign in 1992.
“At its core, a campaign is an opportunity to set key priorities and seek resources that allow us to make critical investments in crucial initiatives and programs,” said Melanie Norton, vice president for development and alumni engagement, in a Sept. 30 email to faculty, staff and students.
Sarah Wallace, ‘76, and David Hoover, ’67, are the campaign’s co-chairs. Wallace just finished her term as the board's first chairwoman.
“The size of this campaign, the money we’ve raised right now, is significantly greater than you’ll see in any liberal arts college in our region, in our space," Casey said in a press conference Friday afternoon. "It is a massive campaign. The numbers are enormous.”
The campaign has reached two-thirds of the goal with a little over $200 million in commitments so far. These donations were made during the campaign's “quiet phase” which mostly reached out to members of the Board of Trustees.
“As alumni, this is a place that we love, a place that has shaped us,” Wallace said in the release. “We have an opportunity and an obligation to ensure that DePauw’s combination of intellectual challenge and its legacy of preparing leaders remains available for students today and for generations to come.”
Hoover added to Wallace’s statement.
“At the very core of DePauw are students who are transformed through a combination of dedicated faculty, small classes and countless opportunities for leadership,” Hoover said in the release.
The goals for the campaign include: the renovation of Roy O. West, additional funding for the School of Music’s 21st Century Musician initiative, additional funds to support faculty development, the creation of The DePauw Trust, which will provide need-based aid to students, strengthening the student engagement programming, other building projects and the re-launching the university’s annual fund as The Fund for DePauw.
Those wishing to donate or find out more about the campaign should visit campaign.depauw.edu.
Casey said that it would have been easier to stay the same and not attempt advancing the university.
“What we were was great, but trying to be better is really expensive. Unbelievably expensive,” Casey said.
However, the university is on track with its fundraising goals.
“It would be extremely unusual to see a single gift that endows all of faculty development,” Casey said. “That’s not typical.”
Funding for endowment-based goals tend to come later in the campaign.
“Capital projects almost always go first,” Casey said. “I’ve never seen a campaign where they didn’t go first.”
Casey stressed the importance of raising money for the endowment. He believes that the institution needs $1 billion in endowment.
“I want enough endowment that you can say to every student, 'I meet all your needs and you don’t take out loans,'” Casey said.
His other goal is to have all faculty development programs on endowment.
“This is not the last campaign; the day after this one finishes, we start the next one,” Casey said. “Now I want to go raise money.”
