Campaign Approaches Final 2 Years

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Editor’s Note: This article is the first in a monthly series that focuses on Campaign Georgia Tech. Next month, we’ll focus on endowed chairs and professorships.

Summaries

Summary Sentence:

When Campaign Georgia Tech began its quiet phase on July 1, 2004, three and a half years had passed since the successful conclusion of the previous capital campaign.

Full Summary:

When Campaign Georgia Tech began its quiet phase on July 1, 2004, three and a half years had passed since the successful conclusion of the previous capital campaign.

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When Campaign Georgia Tech began its quiet phase on July 1, 2004, three and a half years had passed since the successful conclusion of the previous capital campaign. 

That five-year effort raised nearly three-quarters of a billion dollars in gifts and commitments, surpassing the original goal of $300 million and multiple revised goals, and finally closing at $712 million. At the time, it was the most successful campaign in the Institute’s history, measured not only in dollars but also in terms of physical spaces (Technology Square, the four-building Biotechnology Complex, the Klaus Advanced Computing Building, and the Campus Recreation Center). Add to that hundreds of newly endowed undergraduate scholarships and graduate fellowships, as well as 54 new endowed chairs and professorships. In five short years, the campaign had played a critical role in Georgia Tech’s transformation.

Fast Forward

What a difference a decade makes. The current campaign started with a goal of $1 billion — the highest in school history — and was originally scheduled to end in 2010. But a change in Institute leadership in 2009 brought with it a new strategic plan and a corresponding roadmap for philanthropy. President G.P. “Bud” Peterson, along with his leadership team and members of the campaign steering committee, decided to extend Campaign Georgia Tech through Dec. 31, 2015, and to raise the goal to $1.5 billion.

Where do things stand with less than two and a half years remaining? As of the close of fiscal year 2013, the campaign has generated $1.248 billion in gifts, multiyear pledges, and testamentary commitments. In addition:

  • Of that total, $470 million has been directed to permanent endowments, $282 million to facilities construction and renovations and equipment, and $488 million to current operations.
  • Alumni continue to be the primary source of philanthropy, with $570 million, followed by corporations at $348 million, and foundations at $150 million.
  • $158 million has been raised for intercollegiate athletics.
  • The G. Wayne Clough Georgia Tech Promise scholarship program has received $41 million in endowments toward a $50 million goal.
  • Two academic programs have been named: the H. Milton Stewart School of Industrial and Systems Engineering and the Ernest Scheller College of Business.

Led by co-chairs Mary and John Brock, Campaign Georgia Tech is closely aligned to the strategic plan. It’s focused on securing resources for the strategic priorities that will enable Tech to define the technological research university of the 21st century.

According to Tech’s Vice President for Development Barrett H. Carson, the campaign is fully on track for success on or before Dec. 31, 2015, “but opportunities and challenges still exist in these final 28 months. Our opportunities become our challenges as time begins to close in. While we can celebrate our accomplishment of endowing 74 new faculty chairs and professorships, for example, I see the 26 that remain to be funded to get to our goal of 100.” He added, “The math is easier than the fundraising in this case.”

Carson also noted the accomplishments to date in the area of facilities construction and renovation.

“The campaign is providing critical philanthropy — the Marcus Nanotechnology Building, Clough Commons, the Hall Building, the Caddell Building, the Ken Byers Tennis Complex, and the list goes on,” he said. “But I see the facilities that remain. Most critically, the Engineered Biosystems Building, among a number of others.”

The public launch of Campaign Georgia Tech took place in the fall of 2010, followed by a series of roll out events regionally, nationally, and in select cities internationally, announcing the campaign and engaging thousands of alumni. Today, with just more than two years remaining, Development, alumni, and Institute leadership are stepping up efforts to educate the entire Georgia Tech community — in Atlanta and around the world — about the profound impact of philanthropy. For more information about Campaign Georgia Tech, click here.

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  • Created By: Amelia Pavlik
  • Workflow Status: Published
  • Created On: Sep 16, 2013 - 11:21am
  • Last Updated: Oct 7, 2016 - 11:14pm