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Updated 2:30 PM September 19, 2005
 

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  The Michigan Difference
Campaign total reaches $1.83 billion

The Michigan Difference, the University's $2.5 billion fund-raising campaign, has raised more than $1.83 billion to date, or 73 percent of the goal.

"The tremendous support and loyalty we enjoy from our donors, alumni and friends are being seen like never before in The Michigan Difference campaign," President Mary Sue Coleman says. "In today's world, philanthropy is key to our ability to drive the intellectual vitality of our institution and maintain the excellence that we prize. In a time of shrinking state support, voluntary donations enable us to maintain and enhance the attributes that make us one of the nation's leading universities. Our supporters understand the critical role they play in U-M's ability to be an institution where teaching, research and creative activity occur at the very highest level."

The fiscal year that just ended marked the University's best in two areas: in commitments to the campaign in terms of pledges and outright gifts, and in cash receipts, the amount actually received by the University in a given year. While an outstanding year, Vice President for Development Jerry May points to the need for continued effort to complete the campaign.

"We have made wonderful progress but we need to maintain our momentum," May says. "I know our alumni and donors are stepping up with commitments to Michigan as never before, but key goals remain that still need to be completed, such as $8.2 million more for the Museum of Art, $122.4 million more to meet our student scholarship goal, and $242.2 million more for faculty support, just to name a few projects."

The University added more than $492 million to the campaign total in fiscal year 2005, or nearly 20 percent of the goal in a single year. The yearly total comprises new outright gifts as they are received, new pledges and the face value of irrevocable trusts and other deferred gifts.

In a separate category, cash receipts, the University took in more than $255 million in FY 2005, an increase of $43 million over last year's $212 million total, which is a 21 percent increase. The cash receipts are the highest since FY 2000, when the total was $231 million. Cash receipts are different from the campaign total, and refer to pledge payments and outright gifts received in a given year—money that comes in and is available to spend or apply to the endowment.

"To date, the campaign has raised $277.5 million for student scholarships, a critical need for the University. We have set an overall $400 million goal for student support, including $60 million to create a permanent endowment for the M-PACT program. M-PACT was established this year as another means of ensuring that a U-M education is accessible to qualified in-state students who have the greatest financial need," says Bob Groves, associate vice president and director of the campaign. "We will redouble our efforts in support of this initiative."

The campaign success was fueled by extraordinary gift commitments, including $100 million from Stephen M. Ross for the Ross School of Business; $44 million from William and Dee Brehm to work for a cure for diabetes; $25 million from the C.S. Mott Foundation for the children's hospital campaign; a $20 million commitment from Sam and Jean Frankel for the Frankel Institute for Advanced Judaic Studies; and a $10 million gift from Fred and Barbara Erb for the Erb Institute for Global Sustainable Enterprise. Even without those gifts, however, the campaign added $293 million.

"It is clear that private support has now begun to play a new and even more integral role in the revenues of the University," May says. "We see a major paradigm shift occurring in this regard."

Nearly every school and unit still has unmet campaign goals. Across campus, the most pressing needs are for faculty support for endowed chairs, a powerful tool in attracting new professors and retaining the best faculty. Student financial assistance is another high priority.

In addition, the continuing campaign will be focused on building expansion, renovation and new construction. While several projects across the University still need funding, two prominent ones are the Ross School of Business and C.S. Mott Children's Hospital.

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