The Daily OrangeDespite recession, SU sets to meet $1 billion campaign goal
By Justin Murphy
Posted: 11/19/09, 2:00 AM EST Section: News
After raking in $84 million in the last year, Syracuse University believes it is on pace to reach its goal of a $1 billion endowment by the end of 2012, in a fundraising effort called The Campaign for Syracuse University.
SU reported a total fund of $675 million at the end of September, according to the latest tally by The Chronicle of Higher Education. That leaves the university with $325 million left to raise in 39 months, an attainable goal according to officials, including Brian Sischo, the campaign's director.
"We feel very good about the progress we've made in the campaign and our ability to meet the goal," Sischo said.
SU formally announced its campaign on Nov. 2, 2007.
In July, August and September of this year, the campaign raised a total of $14.8 million, far below the pace needed to reach a billion dollars. But summer is usually a slow period for fundraising, and winter is when most donations come in, Sischo said.
In 2008, SU raised $15 million from July to September but rebounded with $39.2 million from October to December.
The economic recession dampened fundraising efforts in 2009, both at SU and at universities across the country, said Kathryn Masterson, who reports on university fundraising for The Chronicle of Higher Education.
"Other billion dollar campaigns have seen a real drop in giving since 2007-2008," Masterson said.
In September of 2009, the most recent month with figures available, SU raised $4.2 million.
But of the 33 schools with active fundraising goals of $1 billion or more, 21 had raised more than SU in this time span.
Cornell University raised $26 million in September, and Columbia University led all schools with $31 million, according to Chronicle figures.
The goal for now, Sischo said, is for SU to reach the $700 million mark by the end of the year.
"I feel confident we'll have some nice seven-figure gifts to close in the next six weeks or so," he said.
SU reported a total fund of $675 million at the end of September, according to the latest tally by The Chronicle of Higher Education. That leaves the university with $325 million left to raise in 39 months, an attainable goal according to officials, including Brian Sischo, the campaign's director.
"We feel very good about the progress we've made in the campaign and our ability to meet the goal," Sischo said.
SU formally announced its campaign on Nov. 2, 2007.
In July, August and September of this year, the campaign raised a total of $14.8 million, far below the pace needed to reach a billion dollars. But summer is usually a slow period for fundraising, and winter is when most donations come in, Sischo said.
In 2008, SU raised $15 million from July to September but rebounded with $39.2 million from October to December.
The economic recession dampened fundraising efforts in 2009, both at SU and at universities across the country, said Kathryn Masterson, who reports on university fundraising for The Chronicle of Higher Education.
"Other billion dollar campaigns have seen a real drop in giving since 2007-2008," Masterson said.
In September of 2009, the most recent month with figures available, SU raised $4.2 million.
But of the 33 schools with active fundraising goals of $1 billion or more, 21 had raised more than SU in this time span.
Cornell University raised $26 million in September, and Columbia University led all schools with $31 million, according to Chronicle figures.
The goal for now, Sischo said, is for SU to reach the $700 million mark by the end of the year.
"I feel confident we'll have some nice seven-figure gifts to close in the next six weeks or so," he said.
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