University of Pittsburgh
February 24, 2005

Pitt Reaches Three-quarter Mark in Its Billion-Dollar Discover a World of Possibilities Capital Campaign

More than $750 million raised as of Dec. 31, 2004
Contact:  412-624-4147

PITTSBURGH— The University of Pittsburgh's Discover a World of Possibilities capital campaign raised more than $750 million in gifts and pledges—three-quarters of its $1 billion goal—Pitt Chancellor Mark A. Nordenberg announced today at the University's winter Board of Trustees meeting. This three-quarter mark was reached as of Dec. 31, 2004. The campaign has raised the largest amount of money of any fundraising effort ever undertaken in Western Pennsylvania.

"Our fundraising success is a tribute to the strength of our case for support, the generosity of our donors, the commitment of our volunteers, and the abilities of our staff," said Nordenberg. "But this campaign, in the end, is not really about the dollar goal. Instead, it is about all the wonderful things we can do for the betterment of our students and faculty and the enhancement of the cultural, educational, and economic vitality of our home region and the Commonwealth."

"Since 1997, when the Discover a World of Possibilities fundraising campaign began, our trustees, alumni, administration, and countless volunteers have worked diligently to ensure our success to date. Without their support, this campaign would not have been possible," said Vice Chancellor for Institutional Advancement Albert J. Novak Jr. "Their deep commitment to the University of Pittsburgh has left an indelible mark on future generations of students and on the well-being of our region."

As one signal measure of its unprecedented success, the campaign already has surpassed its goal of raising 1,500 Endowed Funds—including scholarships, fellowships, professorships, and chairs; that figure now stands at 1,548. Since its inception on July 1, 1997, the campaign can boast a number of noteworthy accomplishments:

• 275 new named endowed scholarship funds ranging from $50,000 to $150,000 each for a total of 693, an increase of 65 percent in the number of such funds within the past seven years;

• 43 new named endowed faculty chairs of $1.5 million to $2.5 million each for a total of 83, an increase of 108 percent in chairs within the past seven years;

• 22 new named endowed fellowship funds of $250,000 to $1 million each for a total of 80, an increase of 38 percent in the number of such funds within the past seven years; and

• 12 new named endowed professorships of $750,000 to $1 million each for a total of 46, an increase of 35 percent in named professorships within the past seven years; and

• 309 new named miscellaneous faculty and student resource endowments of $10,000 to $500,000 each to support such activities and programs as research projects, research travel, book purchases, and student academic projects for a total of 649 of these endowments, representing an increase of 91 percent in the number of such funds.

The campaign already has enjoyed broad support from the University's alumni and friends, attracting a total of 346,980 gifts from 98,450 donors. Another significant measurement of the success of any fundraising campaign is the number of donors who have made commitments of $1 million or more, and here the total of 145 such gifts is particularly telling.

In June 2002, the University's capital campaign had exceeded its $500-million fundraising goal more than a year before its scheduled conclusion, and the Board of Trustees passed a resolution at its June 20, 2002, meeting authorizing the University to increase the campaign's goal to $1 billion.

In taking that action, the board, in its resolution, reaffirmed its 2000 statement of vision, ambition, and direction, which declared: "By aggressively supporting the advancement of Pitt's academic mission, we will clearly establish that this is one of the finest and most productive universities in the world."