University Sets Campaign Record

The University of Southern California, in Los Angeles, last week announced the conclusion of a capital campaign that raised more than $2.85-billion — the largest amount raised in a single nonprofit drive.

The university began its campaign in 1993 as a $1-billion, seven-year effort.

When the campaign picked up momentum — reaching its initial goal two and a half years ahead of schedule — the university board of trustees voted to extend it by two years and raise the bar, ultimately settling on a $2-billion goal.

The record-setting campaign concluded after nine years in December 2002 with a total of $2,850,143,933.

The previous record was set by Columbia University, in New York, which completed a 10-year, $2.844-billion campaign in 2000.

USC tapped into a diverse pool of donors in pursuit of its goal, according to Alan Kreditor, senior vice president for university advancement. While alumni donated about 40 percent — or $1-billion — toward the goal, “the real magic of the campaign was that it was able to reach out to a lot of people who didn’t have a natural affiliation with the university,” Mr. Kreditor said. Alfred Mann, the founder of numerous biopharmaceutical companies, stood out among such donors with his $112.5-million contribution in 1998 to establish a school of biomedical engineering, he said.

The campaign funds will primarily be put into an endowment to support academic programs and faculty members, as well as athletics, capital improvements, and fellowships and scholarships. At the end of fiscal 2002, the university’s endowment stood at $2.1-billion.

The university’s previous campaign ended in 1990 and raised $642-million.