Rutgers Fundraising Campaign Sets New Record

NEW BRUNSWICK, N.J. – Rutgers University’s historic fundraising campaign has just set another record: It has now raised more money than any previous campaign in the university’s 246-year history.

Based on the ongoing strength of the current campaign, Our Rutgers, Our Future is well on pace to surpass its $1 billion fundraising goal, said Rutgers University Foundation President Carol P. Herring.

“Individuals and institutions continue to support Rutgers University in unprecedented numbers, despite our nation’s sluggish economy,” said Rutgers President Richard L. McCormick. “Thanks to their generosity, a Rutgers education will be more accessible to promising students, more world-class faculty will be able to conduct groundbreaking research that benefits humanity and Rutgers University will be better prepared to serve the entire state of New Jersey.”   

Launched publicly in October 2010, Our Rutgers, Our Future addresses critical needs across all areas of the university – from faculty research and student scholarships to campus construction and civic engagement. Ninety percent of the funds raised in the campaign will be used to support academic initiatives, facilities, student services and community outreach.

Today’s announcement marks the latest in a series of major campaign milestones. Others include:

• A record year. During the 2010-11 academic year, Rutgers raised $137.4 million – nearly $9 million more than the previous annual record.

•   A record number of donors. Nearly 95,000 individual donors have contributed to the Our Rutgers, Our Future campaign. That’s nearly 10,000 more donors than during the last campaign.  

• A record number of new student scholarships. Donors have created 558 new scholarships and fellowships during the current campaign.

• A record gift.  An anonymous donor has given $40 million as part of Our Rutgers, Our Future – the most by an individual in university history – to support the following initiatives:

• $27 million for a challenge grant that will establish 18 new endowed chairs in a wide range of academic disciplines, including business education and the sciences. For every $1.5 million that is raised for an endowed chair that meets the donor’s criteria, the donor will match the gift with an additional $1.5 million. A total endowment of $3 million is needed to create an academic chair.

• $10 million to support construction of a new building on the Livingston Campus in Piscataway for the Rutgers Business School-Newark and New Brunswick.

• $3 million to support the Bennett L. Smith Endowed Chair in Business and Natural Resources.

Established in 1766, Rutgers is America’s eighth oldest institution of higher learning and one of the nation’s premier public research universities. Serving more than 58,000 students on campuses in Camden, Newark and New Brunswick, Rutgers is one of only two New Jersey institutions represented in the prestigious Association of American Universities.