Despite the increasingly troubled economic climate, the University’s “Knowledge is Power” capital campaign remains on track, said Alison Traub, assistant vice president for development and director of the campaign.
The University started the campaign in 2006 with an original goal of raising $3 billion during the course of three years, $1.865 billion of which already has been met through gifts and pledges, Traub said. Even during tough economic times, campaign officials have continued seeking contributions from prospective donors through letters and phone calls, Traub added, noting that her office’s efforts have helped keep the campaign accelerating toward its projected target.
“We are respectful of our alumni and friends who say the timing is not right,” said Charlie Fitzgerald, senior associate vice president for principal relationship development. “But we’re not going to assume the timing is wrong.”
The University by and large has prevented the current economic downturn from severely slowing the pace of the Knowledge is Power Campaign — even though some individual donors possibly now are facing new monetary concerns — by remaining mindful of donors’ sensibilities and continuing to press for campaign gifts, Fitzgerald and Traub said. The campaign ended 2008 on a good note, Traub said, taking in $42 million in new commitments.
“I don’t feel that we’ve faced difficulties because what we do now is no different from what we do in any other times,” Traub said. “We’re always sensitive to [donator’s] timing.”
She also admitted, though, that there have been instances in which donors have altered previously made pledges. Traub said some donors have lessened their commitments, while others have agreed to pay off their promises sooner.
“Certainly [the economy is] having an impact,” Traub said. “There are people that it’s affecting tremendously. There are people who would like to make a donation that are not able to.”
Other higher education institutions’ campaigns may see a decline in giving under similar circumstances, Traub added, but the University’s — because of its persistence and willingness to remain open to gifts of all sizes — “fortunately” remains on track.
“We expect to reach our campaign goal,” she said.
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