Harvard Raises $2.33-Billion, but Its Record May Not Last Long

Harvard University announced today that its capital campaign has raised $2.33-billion — setting a record for money raised by a single institution in a single campaign.

However, the campaign, which will continue until December 31, may not remain the most successful for long. As of July 31, Columbia University had garnered $2.29-billion, also exceeding its $2.2-billion campaign goal, according to a top fund-raising official there. The university will continue the fund drive to its scheduled conclusion in December 2000.

Of the money raised in Harvard’s “University Campaign,” which began in May 1994, $1-billion went to the institution’s endowment, which is now worth $14.4-billion.

Just under half of the campaign funds, $965-million, will support programs to strengthen Harvard’s undergraduate programs.

Before Harvard and Columbia broke the $2-billion mark in their campaigns, Yale University had held the most successful campaign in the nation. It raised $1.7-billion in a campaign completed in 1997.