To celebrate its 350th anniversary, the University--with much pomp and grandeur--raised $350 million. Eleven years later, at the midway point of its $2.1 billion capital campaign, Harvard has raised more that $350 million dollars in a single year.
With two years left in the five-year Capital Campaign, funds and pledges now total $1.54 billion, 74 percent of the University's goal.
"Things are well ahead of schedule," said Thomas M. Reardon, vice president for alumni affairs and development. But he cautioned that the final $600 million will be more difficult.
Campaign officials must now focus on fulfilling the priorities of the campaign--not simply a grand total, said President Neil L. Rudenstine in a recent interview.
"One of our goals now is to raise money for the priorities for which we set out to raise the money," said Susan K. Feagin, director of the University Development Office. "Some are not doing as well."
Before launching the campaign three years ago, each school evaluated its needs and priorities as part of the University-wide academic planning process. Rudenstine has asked the Deans to reevaluate these plans now and to refine them for the final stage of the Campaign, he said.
Professorships, libraries and technology have all proved difficult to raise money for.
The Faculty of Arts and Sciences hopes to endow 40 new professorships, particularly in areas with high student demand, but funds have been raised for only 18 of these positions. The Divinity School has endowed only two of the four professorships it wishes to create.
Overall, the University has raised only 40 percent of its goal for professorships, each of which costs $3.5 million to endow.
The University has also had trouble finding the $78 million it hopes to raise to acquire additional collections for Harvard's libraries, renovate Widener Library and preserve Harvard's aging collection. So far the University has achieved only 27 percent of its goal.
But this has come as no surprise to those versed in fundraising. Libraries are a known sore spot in campaigns, Rudenstine said. When he was provost at Princeton, the libraries "came in last."
One of Harvard's newest fundraising ideas has also proven troublesome--the University Fund. Rudenstine hopes to raise $250 million to fund Harvard's five inter-faculty initiatives; supply seed money for new academic ventures; and provide some non-earmarked, fungible money for use at the President's discretion.
The Campaign has raised only $136 million, 51 percent of this goal.
But Reardon said that now more will be done in this area. The University first wanted to focus on the needs of Harvard's schools. "We have not focused on [the University Fund] with the clarity we might," Reardon said. Some of the Campaign successes are already visible on campus, including the renovation of the Union to create the Barker Center for the Humanities and the restoration of the Memorial Hall-Loker Commons complex. Harvard Law School and the School of Public Health have also begun large construction projects. Read more in News