2 Universities Seek $1-Billion in Fund-Raising Campaigns

Two private universities announced plans this month to seek $1-billion in capital campaigns.

Northwestern University, in Evanston, Ill., last week announced its campaign to raise $1-billion by August 2003. So far, it has raised $457-million.

And the Johns Hopkins University, in Baltimore, earlier in May unveiled plans to bump up its campaign goal for 2000 from $900-million to $1.2-billion. Begun in July 1994, the campaign has garnered $916-million.

The campaign at Northwestern, which began its “quiet phase” in 1996, has four goals: hiring more faculty and providing more research funds for faculty members, increasing undergraduate scholarships and programs, strengthening support for graduate programs, and financing capital improvements.

The fund drive is the first comprehensive campaign in Northwestern’s history. It previously ran drives to raise money for particular projects or programs.

“A big part of this campaign was that the university realized it had to go with the big-tent philosophy,” said Alan K. Cubbage, vice-president for university relations. He added that a key goal was to increase giving among alumni. One-third of those who attended the university as undergraduates now give.

Johns Hopkins is not the first university this year to increase its goal to $1-billion. The University of Virginia, in Charlottesville, announced in February that it would seek $1-billion by December 2000, after having announced a goal of $750-million in 1995. The institution has thus far raised $700-million.