Yale and U. of Michigan Bring In Billions

Two capital campaigns that sought to raise more than a billion dollars each have reached record-breaking conclusions.

Yale University announced earlier this month that it had raised $1.7-billion for its “… and for Yale” campaign, which began in May 1992 with a goal of $1.5-billion. And the University of Michigan announced last month that its drive for $1-billion had garnered almost $1.4-billion to date.

Yale’s campaign, which officially concluded June 30, now stands as the largest fund-raising drive ever in higher education, eclipsing the $1.5-billion raised by Cornell University over the first half of this decade.

The University of Michigan met its goal in April of last year, but it kept the “Campaign for Michigan” going until September 30. The drive, which began in 1990, is believed to have raised the largest amount ever for a public university.