August 11, 2005
Phone: (504) 865-5210
Tulane University has had a record-breaking fundraising year thanks to the response to "Promise and Distinction: The Campaign for Tulane University."
During the fiscal year that ended June 30, 2005, Tulane raised a record $95.4 million in new pledges and gifts. Since the public announcement of the "Promise and Distinction" campaign in March, Tulane raised $24 million toward the campaign goal of $700 million by 2008.
The additional $24 million brings the total amount raised during the campaign to $494 million and exceeds by $12 million the university's normal donations during this time period.
"The campaign is succeeding as we expected," Tulane University President Scott Cowen said, noting that the increase in donations has come from every segment of the university's giving pool. "I am perhaps most pleased by the response of our staff and faculty, whose level of giving has increased 62 percent from last year. This is so critical, because we have to believe and invest in ourselves before we can ask others to do the same," Cowen said.
In addition to staff and faculty giving, donations from the university's Alumni Board increased 32 percent from the previous year and, reflecting the increasing importance of web-based giving, the value of online donations was up nearly 110 percent while the number of online donations increased 41 percent.
Overall, annual private giving has more than doubled since the campaign began. "The support we have received to date from friends and alumni has been tremendous and we look forward to their continued generosity in the remaining three years of the campaign," Cowen said.
The next major effort of the campaign will be "Tulane Today," a series of mini-conferences featuring Cowen and a host of renowned Tulane faculty members held in cities throughout the country. The first "Tulane Today" will take place October 29 at The Lighthouse, Pier 61, Chelsea Piers, New York.
The event will feature Darwin Prockop, director of the Tulane Gene Therapy Center; Reed Kroloff, new dean of the School of Architecture; Douglas Brinkley, renowned author and director of the newly established Theodore Roosevelt Center for American Civilization at Tulane, and Board of Tulane member Walter Isaacson, president and CEO of the Aspen Institute and former chairman and CEO of CNN and other major media corporations.
"Tulane Today is an opportunity for us to showcase to a national audience some of the outstanding research and scholarship in which Tulane faculty are engaged on a daily basis. This ranges from pioneering advances in treating diseases using adult stem cells to writing best-selling books that help us better understand our nation and world," said Yvette Jones, senior vice president of external affairs at Tulane.
The "Promise and Distinction" campaign is an outgrowth of the strategic plan formulated by Cowen in 1998 to assess the university's needs and aspirations for the next decade. Nearly half of the $700 million raised during the campaign will be dedicated to Tulane's permanent endowment.
The university's goal is to have an endowment in excess of $1 billion by 2008. On June 30, the market value of the university's endowment was $810 million. The second largest amount of raised funds, $200 million, will be dedicated to expanding and improving campus facilities.
Undergraduate education and research and education programs will receive $125 million of the money raised. The final $50 million of the raised funds will be dedicated to the university's annual fund, unrestricted funds that allow an institution flexibility in new programming.
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