Capital campaign reaches $428 million

The University announced that it has raised $428 million toward the $500 million goal for its "Our Students, Our Future" campaign.

The campaign will conclude June 2009.

"We try to release an update every few months. People are interested in what we are doing, and we want to keep the public aware of how we are doing," said David Wolf, assistant vice president for development.

Before the capital campaign began, the University created a steering committee consisting of alumni, college representatives and development officers. The group worked with the president and the advancement office to discuss and estimate what could feasibly be raised in a given time span.

When UA President Robert Witt arrived in March 2003, Wolf said the plan was tweaked to incorporate his plans for the University, including the enrollment goal.

"It is quite a process to build a capital campaign," Wolf said. "It takes a couple of years before you announce what your capital campaign is, and while you are doing this you are also soliciting."

The Capstone announced its $500 million capital campaign in April 2006 when the campaign had already raised nearly $300 million. Wolf said most of the donations are from alumni and friends of the University. He also said the University is expected to surpass its goal.

Brittany Fox, a junior majoring in accounting, said some of the groups she is involved with have donated money to the campaign. She said she was glad to hear the fundraising was going well.

"I know one of the organizations I am involved donated $500, and a few of the sororities pitched in as well," Fox said. "It's great to know that students contributed to the campaign."

Each donor can specify how their donation should be allocated, Wolf said.

"There will not be an accounting surplus because donors stipulate exactly where they want their money to go," Wolf said. "With large pledges many donors decide to pay over time. They don't just write a check for $100,000. They may choose to give $20,000 a year for five years."

Half of the money raised in the capital campaign will go toward student financial aid to recruit and retain students. So far more than $170 million has been allocated to student financial aid, Wolf said. Endowed scholarships account for $75 million.

In a press release, Witt said the University's ability to recruit students comes partially from the donations that fund scholarships.

"As the University grows, the need for scholarships becomes more important, and we are confident that we can count on the University of Alabama family to make sure we reach our goal," Witt said.

Wolf said endowed scholarships are important for fundraising and they are an indicator of the health of the University.

"It is like creating a savings account for scholarships," Wolf said. "Our goal is to create opportunity for generations and generations of students."

An additional $77 million has been donated to buildings and facilities. The athletics department and the UA School of Law have raised substantial amounts of money for building purposes, Wolf said.

"The new addition to the law school is amazing," said Jonathan Kinsley, a third-year law student. "I'd have to say the new cafeteria area is my favorite. I wasn't aware that it was the result of the UA capital campaign."

To donate to the "Our Students, Our Future" campaign visit the Web site www.giving.ua.edu.