University officials are preparing to launch a major fund-raising campaign to implement changes proposed in the Yale College academic review, a task administrators estimate will cost hundreds of millions of dollars.
The campaign will likely begin in the fall of 2004 or sometime in 2005, Vice President for Development Charles Pagnam said. Yale President Richard Levin said about half of the funding would go toward increasing the size of the University’s faculty by 10 percent, one of the major recommendations of the academic review. The review, released last Thursday by the Committee on Yale College Education, also recommended creating a science center and providing more funding for study abroad programs.
Administrators expressed concern over the current economic situation, but remained hopeful that alumni would support the campaign.
“One of the big questions for us is the economic environment, which currently is not as conducive as one would like for fund raising,” Pagnam said. “That wouldn’t determine if we have a campaign. That would determine the size of the campaign.”
Levin said he is confident the campaign will be successful despite the current economic situation.
“By the time we get the campaign organized and launched, we hope the economy will be well on its way to recovery,” Levin said. “It might be a little harder to raise money than it was in the boom years of 1998 to 2000, but there’s a lot of loyalty among our alumni and a lot of loyalty for Yale College.”
Pagnam said he anticipates individuals will supply a very high percentage of the donations, with limited support from foundations and even less support from corporations.
Pagnam said officials hope every alumnus participates in the campaign, but they intend to solicit large donations from about eight to 10 percent of alumni. He said about 90 percent of total dollars raised in capital campaigns comes from a small portion of potential donors.
Pagnam said University officials may send letters to large groups of alumni, but the majority of fund raising will be face to face. He said Levin and Yale College Dean Richard Brodhead will be instrumental in securing large gifts from alumni.
Officials have not yet determined the size of the campaign, Pagnam said. He said his colleagues will discuss the recommendations with the budget office, even as the report is being reviewed and endorsed.
Pagnam said if the campaign raises more money than the review requires, the University will find other uses for the funds.
“Clearly there would be needs that that money could support,” Pagnam said.
Brodhead, who headed the academic review, said the committee was aware that some recommendations would require fund raising, while others would not.
“We well understand that some of the proposals we can do ourselves and some we will need resources to accomplish,” Brodhead said.