News Feature
Numbers of a Remarkable Year
October 4, 2007
At the conclusion of Fiscal Year 2007, which ended June 30, the overall Campaign total had reached almost $2.326 billion. This figure put the Campaign a remarkable $726 million ahead of schedule.
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It’s always wonderful news when a campaign runs ahead of schedule, but it’s not entirely surprising; campaigns often raise a disproportionate amount of money in the early stages. What remains noteworthy is the amount by which we are ahead. As Susan Feagin and Esta Stecher note, our momentum reflects great effort on the part of many different people. As we continue to develop new sources of potential donations, much of the hardest work still lies ahead.
Exceeding Our Goals
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FY07 alone saw almost $913 million in gifts and pledges to The Columbia Campaign. This represents 203 percent of the $450 million fundraising target for the year, and an increase of more than 27 percent beyond the $714 million in gifts and pledges raised in FY06. The $400 million generously pledged by John W. Kluge CC'37 accounts for much, but not all of this. Indeed, Columbia would still be $63 million above its goal for the year even without the Kluge gift—that said, we’re extraordinarily pleased to have it!
Money for Endowment, Construction, and Current Use
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By June 30, 2007, Columbia had raised 66 percent of both its $1.6 billion goal for new endowment and its $1.4 billion goal for current-use monies. The University had also raised 35 percent of its $1 billion goal to benefit its physical plant; new buildings and facilities for science, the School of the Arts, and the Business School are all on the horizon.
Support from Alumni and Friends
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As Columbia continues its effort to strengthen connections with alumni throughout the University, we see that alumni accounted for 76 percent of donations by June 30, 2007, to units on the Morningside campus. The Medical Center relies more heavily on organizations, which accounted for 46 percent of donations by the end of FY07, and non-alumni friends, who have contributed 39 percent of total donations there.
Cash Receipts Rise
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In addition to overall gifts and pledges, actual cash receipts are up as well. The $424 million recorded in FY07 set a Columbia record, and represents 113 percent of the goal for the year.
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