With $5.49 billion haul, UCLA rivals private colleges in fundraising — it’s part of a trend
UCLA has raised $5.49 billion in one of the nation’s most successful public university fundraising campaigns, as an “arms race” heats up throughout the country for private philanthropy to offset state funding shortfalls. State support has fallen from 84% of its core budget in 1990 to 42% today. Overall, the campaign outstripped expectations by drawing gifts from more than 220,000 donors from all 50 states and 99 countries. With more than 400 fundraising officials and 1,500 volunteers, Turteltaub said, the campaign relied on a strategy to attract a small cadre of very large contributors and a broad base of smaller ones. Donations ranged from $1 to $100 million, with 81% less than $1,000. Chancellor Gene Block's top fundraising priority is expanding student scholarships and fellowships to make UCLA more affordable for a greater diversity of students. His matching fund has received 58,000 gifts of a total $665 million so far, and Block said he would continue to work to “reach the moon” of his ultimate $1-billion goal.
"UCLA has raised $5.49 billion in one of the nation’s most successful public university fundraising campaigns, as an “arms race” heats up throughout the country for private philanthropy to offset state funding shortfalls.
The final tally, announced Wednesday by campus officials, surpassed its initial goal by more than $1 billion after its public launch in 2014 to commemorate UCLA’s centennial anniversary this academic year. The funds will help support a range of initiatives at one of the nation’s leading public research universities, including student scholarships and support, endowed faculty chairs, research projects and building needs.
“The primary goal of this effort was to let UCLA’s future eclipse even the greatest achievements of our past,” Chancellor Gene Block said. “This campaign, fueled by so many passionate supporters, provides the foundation we need to move into our second century with confidence.”
The massive campaign reflects a growing national trend as more campuses launch larger and longer fundraising efforts in a scramble to find new sources of revenue for needs that state funding no longer fully supports.
U.S. higher education hit a critical tipping point in 2017, when more than half of all states relied more heavily on tuition dollars to fund their public colleges and universities than on government appropriations for the first time in the nation’s history. At University of California campuses, state support has fallen from 84% of its core budget in 1990 to 42% today."— Teresa Watanabe, Feb. 26, 2020
This post is an excerpt. Read the full article on the Los Angeles Times website.
Stay engaged. Use #UCLAarts to stay connected.
