Las Vegas Sun

March 28, 2024

UNLV surpasses goal, raises $537 million in campaign

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Beyond the Sun

The UNLV Foundation announced this morning it has received more than $537 million in gifts to its first-ever capital campaign, surpassing the goal of $500 million.

The "Invent the Future" campaign began in 2002 with what’s known as a "quiet period," before moving into a widely publicized phase several years later.

The intent was to enhance the quality and strength of the university’s education and research activities, as well as boost UNLV’s reputation and public profile. In addition, the campaign sought to strengthen alumni ties and involvement, increase UNLV’s fundraising resources and improve the university’s position as an engine of economic development for the community.

Among the final numbers:

*Nearly 80 percent of the gifts – 84,486 in total -- came from local residents, although donors came from all 50 states, the District of Columbia, American Samoa, Puerto Rico and the Virgin Islands.

*The average gift amount was $6,358.

*There were 2,182 individual gifts of at least $10,000.

*Alumni accounted for nearly 42 percent of the gifts.

*Faculty and staff made up 4 percent of the donors.

Of the campaign’s final tally, $397,154,054 is in actual cash pledges, with $140,047,424 in estate gifts and bequests.

Here’s how the university says the money has – and will be – used:

*Program support: 58 percent

*Scholarships/fellowships: 16 percent

*Facilities: 16 percent

*Unrestricted: 3 percent

*Research: 2.6 percent

Gov. Jim Gibbons is calling for steep cuts to the university system’s budget. UNLV Foundation officials say it’s critical that the public understand the proceeds of the capital campaign can’t be used to make up for the shortfall in state support.

Overall, 97 percent of the funds have been allocated to a specific use, designated by the donor.

"That’s one of the most important messages we’ve tried to put out – these dollars are restricted for scholarships, for buildings and for programs," said Bill Boldt, UNLV’s vice president of university advancement. "Ideally, you want private support to provide a margin of excellence above what you can do with the money you receive from the state."

The high percentage of gifts coming from the alumni is particularly encouraging, Boldt said.

"It’s the foundation for a strong pipeline of future giving," Boldt said.

Completing a major campaign during an economic downturn is a significant accomplishment, said Rae Goldsmith, vice president of advancement resources at the Council for Advancement and Support of Education, a national organization which sets fundraising guidelines followed by most universities and colleges.

Most major university campaigns run about eight years, and "the chances are there will be some sort of economic downturn during that course of time," Goldsmith said. "What’s challenging now is we’re dealing with an economic climate that is largely unpredictable, and unlike anything we’ve had to deal with before."

As a result, some institutions have suspended existing campaigns or delayed launching new ones, Goldsmith said.

As for how those institutions intend to spend those dollars, it varies widely from campus to campus, Goldsmith said. Schools that already boast sizeable endowments might opt to spend more funds on new programs, as opposed to building up its reserve.

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