Veritas, Vol. 30, No. 07, March 1990

              MARCH 1990 • VOLUME 30 • NUMBER 7 • FOR THE FACULTY AND STAFF OF THE UNIVERSITY OF MIAMI
Campaign raises over half-a-billion dollars
The five-year Campaign for the University of Miami, one of the largest fund-raising efforts in the history of higher education, concluded in January raising $517.5 million, far surpassing the original goal of $400 million.
“We are delighted at the outpouring of generosity this community has shown for the University of Miami,” says James W. McLamore, chairman of the Board of Trustees and chairman of the Campaign, noting that more than 75 percent of the commitments have come from South Florida.
“It is absolutely incredible that a young university, only 64 years old, has generated the kind of confidence more typical of the established, old-guard schools,” he adds.
When the Campaign was announced in December 1984, it was the second most ambitious campaign in the history of higher education.
Only two other universities have concluded larger campaigns: Washington University in St. Louis and Columbia University.
“This great community effort could not have been so successful without the strong, tireless leadership of Jim McLamore,” says President Edward T. Foote II. “Mr.
McLamore, the other trustees, and many hundreds of volunteers have done an incredible job, for which we are extremely grateful.”
Most everyone involved with the Campaign agrees that it has been successful beyond any reasonable projection that could have been made based on the University’s fund-raising history. According to a report prepared by a consultant who was brought in to assess the Campaign’s accomplishments: The Campaign’s success was achieved with fewer staff and at less cost than any campaign its size; the University’s policy for counting gifts was very conservative; and the major reason for the degree of success of the Campaign was the quality of the leadership, in particular that of the chairman and the president.
Where the support came from
The Campaign included 196,089 gifts, pledges, and planned gifts, with 86 donors committing $1 million or more. The largest benefactor is the Harcourt M. and Virginia W. Sylvester Foundation, which committed $32.5 million for the Sylvester Comprehensive Cancer Center. The Sylvester
commitment will generate more than $77 million over the next 30 years.
James L. Knight, through a charitable trust, committed $56.25 million over a period of 27 years, of which $20 million was counted toward the Campaign. In addition to the construction of the James L. Knight Physics Building, the Knight
gift will provide support for the Bascom Palmer Eye Institute.
Most of the support for the University came from South Floridians who graduated from other schools. Forty-four percent of the commitments came from individuals who are not alumni. Another 23 percent came from philanthropic foundations, 16 percent came from corporations,
6 percent came from organizations, and 10 percent came from alumni. Institutions much older than UM usually depend upon generations of alumni contributors. However, more than half of the University of Miami’s alumni have graduated since 1972.
How the University benefits
Evidence of this effort has sprung up across the University’s campuses. Funded through $77 million in gifts and commitments, 14 major construction projects have been initiated, along with renovations to many University buildings. These projects include the Sylvester Comprehensive Cancer Center, the James L. Knight Physics Building, the J. Neville McArthur
Engineering Building addition, the Florence Hecht Residential College, the Neil Schiff Tennis Center, the L. Austin Weeks Center for Recording and Performance, the Ziff Tower of the School of Architecture, the Reba Engler-Daner Wing of the School of Law Library, the Knight Sports Complex, the Ron Fraser Baseball Building, the
Diabetes Research Building, and the William L. McKnight Vision Research Center expansion.
In addition, 45 endowed professorships have been created, ten of which originated from trustees or corporations they represent. These chairs are designed to attract and then support the work of some of the world’s best scholars. Top researchers and teachers have already been recruited in medicine, business, marine geology, and other areas. These new endowed chair funds bring the University’s total to 59.
More than $75 million has been added to the University’s endowment, a fund from which income is drawn to support faculty research, student financial assistance, the library, and other programs as designated by donors. As of December 31, the value of the endowment stood at almost $155 million, up from $66 million when the Campaign was launched.
Another $23 million was raised during the Campaign for student scholarships. Three-quarters of the University’s students now receive financial assistance to help fund their education.
Clearly defined goals
The goals of the Campaign were rooted in a clearly defined set of needs. Following an initial two-year study, a five-year, corporate-sty le plan was developed that outlined the University’s commitment to “reshape itself into a highly selective private university that offers programs of the highest caliber to discerning students seeking a quality education.” The plan called for the University to become a smaller, more academically elite institution, repositioning itself from a predominately regional institution to one of significant national impact and international stature in education and research.
In order to achieve these ambitious goals, the University needed a major infusion of new funds from private sources. As part of the Campaign planning process more than $700 million in needs
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James W. McLamore, chairman of the Board of Trustees, displays the crystal globe presented to him by President Edward T. Foote II at the February trustees meeting in appreciation of his leadership during the Campaign.