Campaign goal increases to $175 million

With the Forever Furman capital campaign ahead of schedule and mounting fiscal challenges looming, the board of trustees voted unanimously May 13 to boost the university comprehensive campaign goal from $150 million to $175 million.

The campaign, launched publicly a year ago after a 30-month "quiet phase," will be completed in fall of the year 2001, ending as Furman celebrates its 175th anniversary.

"This new goal – to raise $175 million as we celebrate our 175th anniversary – is important because it will help prepare Furman for the fiscal challenges that lie ahead. It is designed in particular to complete the funding for the $25 million expansion of the James Buchanan Duke Library," says Gordon Herring, chair of the Campaign Executive Committee.

To date, the campaign has raised $130 million.

The Duke Endowment announced in January that it had committed $10 million to the campaign, $9.5 million of which will be allocated to the library project. The renovation and expansion will cost $25 million and represents the largest construction project undertaken by the university since Furman relocated to it current location from downtown Greenville during the late 50s.

Other construction projects on the horizon include Herman N. Hipp Hall, the Younts Conference Center, the renovation of Furman Hall and a new science building.

Even though the need for facility improvement projects are great, Herring says the top priority of the Forever Furman campaign remains boosting the university’s endowment.

Compared to peer institutions such as Davidson ($169,000), Richmond ($190,000) and Washington and Lee ($334,000), Furman has a relatively low endowment-per-student of $82,000. This means Furman is less able to provide financial aid for students and support for faculty and programs than its competitors.

In addition to boosting the endowment and improving facilities, other priorities of the campaign include increasing annual gifts and encouraging supporters to include the university in their estate plans.

In announcing the revised goal, Neel Hipp, national campaign chair, urged alumni and friends to "adopt" one of the priority needs in the campaign, from annual giving to endowments to enhancing facilities.

"This is a comprehensive campaign," he says, "and there’s a place for every donor, from the one who provides major support to the one who gives annually to put our alumni participation over 50 percent. All are welcome and needed."